Surupana

SURUPANA PROPERTY OVERVIEW

SURUPANA PROPERTY

8,000+ acres of concessions.
Located in central Puno province of southern Peru in the silver-rich altiplano region.
An estimated twelve historical mine workings focused on high-grade silver, copper and lead mineralization reported.

GEOLOGY

Described by intermediate sulphidation epithermal model, with meaningful potential as bulk tonnage silver and base metal target.

Highlights

Rock sampling returned 96 samples within the Supay Huasi Reconnaissance Area where three short underground adits exploited a metre-scale vertical structure. The area measures 950m by 800m with coincident surface rock geochemical anomalies, including silver, copper, zinc, arsenic, mercury, antimony and bismuth.

Silver highlights include:

- Sample SUR-33 returned 1880 g/t Ag
- Sample SUR-04 returned 1460 g/t Ag
- Sample SUR-94 returned 1455 g/t Ag
- Sample SUR-57 returned 1430 g/t Ag
- Sample SUR-81 returned 1050 g/t Ag

A chip sample with a value of 3400 g/t Ag over a width of 0.4 m was reported at the adits of the historical Supay Huasi Silver mine .

PROPERTY LOCATION

Favourable logistics: Paved/dirt road access; National airport 100 km south at Juliaca (population: 270,000); 830 km SE of Lima. Elevation: 4,400m to 5,150m.
Open Altiplano pampa grass terrain. Accessible and workable year-round with the Village of San Jose as the closest community.
Proximal to Bear Creek’s Corani bulk tonnage Silver-Lead-Zinc development project (90 km northwest) and Minsur’s San Rafael high-grade Tin Mine (50 km northwest);

Property Concessions

Property Location

GEOLOGY IN PERUVIAN ALTIPLANO

Cenozoic basins archive the ongoing development of the central Andes and the Andean plateau, Earth’s second largest modern orogenic plateau.

Protracted subduction of the Nazca oceanic plate beneath the South American continent resulted in mountain building, and creation of the low relief, high‐elevation topography of the Altiplano.

ALTIPLANO MINERALISATION

Described as epithermal veins.
Appear genetically and spatially linked to deep seated porphyry copper-gold deposits.
High-sulphide deposits are formed similar to low-sulphide deposits, however at a greater depth with stronger link to underlying magma.

Historically, epithermal veins have been mined by underground techniques as miners followed the veins from the surface outcrops to underground. However, modern mining techniques allow most epithermal deposits to be mined using open-cut pit techniques.

HISTORICAL WORKINGS

1960s-1980s

Peruvian Surupana Mining Co. carried out small-scale surface pitting and narrow vein-style underground mining; focused on narrow structures hosting high grade silver, copper and lead. Work terminated in 1980s due to the Shining Path guerrilla war.

2007-2010

Solid Mining (private co.) staked ground and completed minor surface rock sampling, geology surveys and data compilation.

2017-2018

Minera Rosetta (private co.) staked concessions and preliminary recon. rock and soil sampling.

WORKPLAN

YEAR 1

Complete a comprehensive property assessment, including IP geophysics survey, soil sampling and target definition.
Conduct an initial drill campaign targeting anomalies and areas of interest identified by IP survey and rock sampling work.
Estimated cost of US$3 million.

YEAR 2

Follow-on drill campaign targeting additional anomalies and delineating areas of interest based on initial drill campaign.

FUTURE

Opportunity to develop a bulk-tonnage project similar to the nearby Corani project.

Surupana

SURUPANA PROPERTY OVERVIEW

Highlights

PROPERTY LOCATION

Favourable logistics: Paved/dirt road access; National airport 100 km south at Juliaca (population: 270,000); 830 km SE of Lima. Elevation: 4,400m to 5,150m.

Open Altiplano pampa grass terrain. Accessible and workable year-round with the Village of San Jose as the closest community.

Proximal to Bear Creek’s Corani bulk tonnage Silver-Lead-Zinc development project (90 km northwest) and Minsur’s San Rafael high-grade Tin Mine (50 km northwest);

Property Concessions

Property Location

GEOLOGY IN PERUVIAN ALTIPLANO

Cenozoic basins archive the ongoing development of the central Andes and the Andean plateau, Earth’s second largest modern orogenic plateau.

Protracted subduction of the Nazca oceanic plate beneath the South American continent resulted in mountain building, and creation of the low relief, high‐elevation topography of the Altiplano.

ALTIPLANO MINERALISATION

Described as epithermal veins.

Appear genetically and spatially linked to deep seated porphyry copper-gold deposits.

High-sulphide deposits are formed similar to low-sulphide deposits, however at a greater depth with stronger link to underlying magma.

Historically, epithermal veins have been mined by underground techniques as miners followed the veins from the surface outcrops to underground. However, modern mining techniques allow most epithermal deposits to be mined using open-cut pit techniques.

HISTORICAL WORKINGS

1960s-1980s

Peruvian Surupana Mining Co. carried out small-scale surface pitting and narrow vein-style underground mining; focused on narrow structures hosting high grade silver, copper and lead. Work terminated in 1980s due to the Shining Path guerrilla war.

2007-2010

Solid Mining (private co.) staked ground and completed minor surface rock sampling, geology surveys and data compilation.

2017-2018

Minera Rosetta (private co.) staked concessions and preliminary recon. rock and soil sampling.

WORKPLAN

YEAR 1

Complete a comprehensive property assessment, including IP geophysics survey, soil sampling and target definition.

Conduct an initial drill campaign targeting anomalies and areas of interest identified by IP survey and rock sampling work.

Estimated cost of US$3 million.

YEAR 2

Follow-on drill campaign targeting additional anomalies and delineating areas of interest based on initial drill campaign.

FUTURE

Opportunity to develop a bulk-tonnage project similar to the nearby Corani project.