SANTA ROSA

The 100% owned Santa Rosa gold project is an intrusive hosted structurally-controlled quartz stockwork system within the prolific Antioquia Batholith.  Gold mining within the Santa Rosa project pre-dates the 16^th century when an estimated 30 million tonnes were mined.  The San Ramon gold deposit (a single shear zone within the Santa Rosa project) trends east-west, dips 70^o to the north, extends over 1,900 metres, is up to 50 metres in width and is mineralised from surface.  Preliminary metallurgical results give 94% gold recoveries through CIL processing.  23,000 metres have been drilled to date to a vertical depth of 250 metres with mineralisation remaining open at depth.  The most significant drill intercepts to date include:

SR-042 - 66.9m at   3.06 g/t Au incl. 6.0m at 31.85 g/t Au
SR-045 - 35.5m at   2.28 g/t Au incl. 1.5m at 28.26 g/t Au and 1.9m at 14.36 g/t Au
SR-053 - 17.7m at 17.14 g/t Au incl. 7.0m at 41.53 g/t Au
SR-060 - 11.4m at 16.04 g/t Au incl. 2.0m at 30.73 g/t Au and 3.5m at 29.29 g/t Au

The high potassic alteration, anomalous geochemistry and drill results all confirm and are coincident with the historic workings.

Geology

Geology within the Santa Rosa gold project is dominated by hornblende-biotite diorite and quartz diorite of the Antioquia batholith. The batholith is a calc-alkaline, plutonic intrusive complex belonging to an early- to mid-Cretaceous magmatic arc. Basement geology is a complex elongated mosaic of Palaeozoic and younger autochthonous and allochthonous terranes that were accreted to the South American continent and subjected to transpressional tectonics and episodic subduction-related magmatism. Mineralisation is contained within numerous mesothermal veins and stockworks structurally related to east-west and north-north-west corridors.

Previous Exploration

Exploration to date has entailed:

Detailed structural and geological mapping of over 250 near surface underground adits witin the oxidised saprolite and over 60 historic open cut hydraulic workings.

Surface geological mapping.

Bulldozer and hand trenching.

Collection and analysis of over 2,600 adit and trench channel samples in the oxides.

Helicopter-borne magnetic and radiometric surveys.

Detailed Mobile Metal Ion (MMI) geochemical sampling programme on a 200m by 50m grid.

23,000 metres of core drilling in 139 holes to a vertical depth of 250 metres.

Preliminary metallurgical testwork.

Environmental baseline studies. 

Current Work Program

22,000 metre Phase Four core drill program completing in-fill drilling to 50m spacing and expanding at depth to 500 metres.

Updated NI 43-101 compliant Resource Estimate.

Preliminary Economic Assessment.

Environmental Impact Assessment.

Permitting.