Paco Orco Property
Geology and Mineralization
Paco Orco contains a recently discovered, structurally-hosted zone of gossan occurrences that exend northwest from CopperNico’s Sombrero Project. The gossans are derived from weatherning of massive sulfide mineralization hosted within limestone, part of a likely carbonate-replacement deposit. The main gossan body is large, measuring 100 – 200 meters in diameter and extending southeast for 2.0 km before transitioning into a zone of jasperoidal silicification, extending for another 2.0 km. The property has received very little work and is at a very early stage of exploration. Rock samples of gossan from the property contain values up to 58 g/t silver, 0.58% lead and 0.26% zinc.
Joint Venture Terms
Solaris Resources Inc. (TSX:SLS/ NYSE: SLSR) (“Solaris”) has an earn-in option agreement on Paco Orco for up to 75% interest over two stages. Solaris has agreed to obtain all necessary drill permits and spend US$4 million during the first three years for 51% interest. An additional 24% interest, for a total of 75%, can be earned after Solaris spends US$11.5 million over four years, fully funding a Pre-Feasibility (“PFS”) for the project, and pays US$0.5 million.
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