The El Abuelo project (500 has.) is located approximately midway between Barrick Gold's Pierina and Alto Chicama mines. Gold mineralization is associated with white crystalline quartz veins, stockwork and breccias hosted in Chicama black shales (Cretaceous-age) along a northeast-trending structural zone that currently measures 2,000 x 100m. The mineralization remains open in all directions. Mr. Mike McClave, an independent qualified person under the definitions of NI 43-101, evaluated the property for Bear Creek Mining in November 2006 and concludes that the geologic environment is similar to slate belt gold systems which have the potential to be large and may extend to great depths. Evidence of past mining by hydraulic and placer methods suggests the presence of significant free gold recoverable by low-cost gravity and leach methods.

The 82 surface rock chip samples collected to date average 1.7g/t gold, and:
  • 39 samples assay greater than 0.5g/t Au,
  • 24 samples assay greater than the average, and
  • the 6 highest assays returned 6.6, 7.7, 9.1, 10.4, 12.4 and 17.2 g/t Au.
Gold is the primary metallic element with minimal silver or base metals.

Bear Creek can earn 100% of the property by making escalating payments totaling $10M over 4 years, investing a minimum of $1M in exploration over 3 years and drilling a minimum of 1,000m in the first 6 months.

  • El Abuelo Database -- Feb 16, 2006

    El Abuelo Surface Geology Map -- Feb 19, 2006

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