The Valenciana Property hosts high-grade epithermal gold and silver veins, with base metals of lead and zinc, in Cretaceous sedimentary units and Tertiary rhyolitic and monzonitic intrusive rocks. It is located on the Mesa Central within the prolific 'Silver Trend' of
VALENCIANA GOLD-SILVER PROJECT,
Located north of the village of Valenciana in northern Zacatecas State, approximately 30 kilometres north of the
Hydrothermal alteration is extensive in the district due to the emplacement of the low to intermediate sulphidation vein systems, hosted mainly in the Cretaceous sedimentary units. Tertiary intrusive rocks of rhyolite and monzonite composition have been mapped on the western extent of the Valenciana Property.
The 1996 exploration program, conducted by
In 2003,
While the LOI is non-binding, negotiation of a definitive agreement is underway at this time, and such definitive agreement is expected to include a four-month due diligence period, scaled option payments, an area of influence and a 2% production royalty ('NSR') on the original concessions, plus a 0.5% NSR on adjacent properties obtained from third party concession holders within the area of influence.
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FORWARD LOOKING STATEMENTS
This News Release may contain forward-looking statements including, but not limited to, statements with respect to the LOI, the execution of and terms of a definitive agreement to acquire 100% of the Valenciana Property and future exploration of the Valenciana Property. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties including, among others: the success of evaluation plans; the success of exploration activities; mine development prospects; potential for future metals production; changes in economic parameters and assumptions; timing of receipt of exploration results; the interpretation and actual results of future exploration activities and mineralization; the results of regulatory and permitting processes; future metals price; possible variations in grade or recovery rates; failure of equipment or processes to operate as anticipated; labour disputes and other risks of the mining industry; the results of economic and technical studies; delays in obtaining governmental and local approvals or financing or in the completion of exploration; timing of assay results. Actual results may differ materially from those currently anticipated in such statements and
Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in the forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.
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