All rights and privileges for the mineral resources to be found within this concession have been formally transferred to Cooperative Minera aurifera Nueva La Joya Ltda. In recent years, the Cooperative has actively conducted subsoil mining (including open pit in small quantities) using manual methods for extraction of gold and silver resources located at La Joya.
Additionally, the Cooperative has identified mineral rich seams along nine existing tunnels. These seams are not currently or projected to be infringing on exploration rights of any third party. The Cooperative has outlined total resource of a proven and a probable reserve of 548.102 tons of recoverable ores with 2.701 and 23.753 kilos of gold and silver, respectively. Presently, the Cooperative is producing 200 tons of ore per day, and this processing rate is anticipated to increase based on the plant upgrade design requirements and supported by the required capital investments received. The current estimate gross in-situ value for metals contained at the La Joya site exceeds $500,00,00 (US).
There are two principle structures that control the mineralization:
*High angle veins that vary in width from millimeters to meters; these veins contain gold values ranging between 5 to 30 grams per ton.
*Smaller veins which vary between millimeters to 10 centimeters in width. The principle disposition of these veins is of a stock-work type; these veins contain gold values ranging between 2 to 6 grams per ton.