1. EL RUBI – ESPERANZA PROJECT
Sonora, Mexico
(CONTACT:

2. El Rubi – Esperanza Project
KEY FACTS
U S A
Sonora
El Rubi – Esperanza Project
Privately owned
Known as “La Virginia” by Minefinders and Pan American Silver
Low sulfidation epithermal system
Optioned by Minefinders in 2007, bought with the company by Pan American Silver in 2012
Over 188 drillholes
Hearsay: Over 200 K Oz Au were defined
Pan American Silver seems open to negotiate the data
MEXICO

3. LOCATION U S A SIERRA MADRE PRECIOUS METAL BELT
Cerro Magallanes
Sonora
Chihuahua
Mesa de Plata
El Tigre
El Rubi - Esperanza
El Rubi – Esperanza is located on the
Sierra Madre precious metal belt, host to many
large gold and silver epithermal deposits
An ideal location for exploration of
Multi Million Oz Au-Ag deposits
Lampazos
Dolores
La India
Mulatos
Pinos Altos

4. HISTORY OF PREVIOUS DEAL
In 2007 Minefinders field checked the area, as part of their helicopter borne program to identify other targets like Dolores
The Dolores model involves a low sulfidation epithermal system associated to rhyodacitic dikes cutting through andesitic volcanic rocks of the Lower Volcanic Group
The El Rubi – Esperanza area fits the model, after conducting helicopter based sampling they decided to option the properties and stake ground
Minefinders optioned the El Rubi and Esperanza concessions, and staked additional ground

5. HISTORY OF PREVIOUS DEAL
In January 2012 Pan American Silver bought Minefinders, including the La Virginia Project
Pan American continued definition drilling on El Rubi-Esperanza from 2012 to 2014
In late 2014 returned the El Rubi concessions
In late 2016 returned the Esperanza concession

6. MINING CONCESSIONS The land package offered covers over 2,100 ha
Pan American Silver still retains a large land position, and seems willing to negotiate

7. MINING CONCESSIONS
Open
Pan American
Silver
El Rubi/Esperanza
8.5 km

8. LOCATION OF NEARBY PROPERTIES
El Tigre
LOCATION OF NEARBY PROPERTIES
El Rubi - Esperanza is located in the Sierra Madre, which hosts published resources of over 69 M Oz of gold in 47 deposits, 23 of which are of epithermal low sulfidation affinity
El Rubi/Esperanza
The project is between the Dolores mine, in Chihuahua (2.2 M Oz Au, 80 M Oz Ag), and El Tigre project in Sonora (350 K Oz Au, 24 M Oz Ag), 90 km from each
Lampazos
Dolores

9. GEOLOGIC OVERVIEW Thick felsic – intermediate volcanic rocks sequence,
dominated by felsic tuffs an andesitic flows intruded by rhyodacitic dikes
Dikes
Dikes

10. MINERALIZATION
Mineralization is often associated to the rhyodacitic dikes, with quartz stockworks developing in the dikes or in the adjoining wallrocks

11. GOLD ON ROCK SAMPLES
Good surface geochemistry, with gold up to 110 g/t at El Rubí zone, 36 g/t Au at Campo Santo, g/t Au at Convirginia, 1.55 g/t Au at Pinos Altos, 1.7 g/t at Las Huatas and 0.3 g/t Au at La Colonia
(Samples on Esperanza concession by J. Cirett)

12. SILVER ON ROCK SAMPLES
Good surface geochemistry, with silver up to 6,720 g/t at El Rubí, 943 g/t ppm at Campo Santo, 1,530 g/t at Convirginia, 558 g/t at Pinos Altos, 73 g/t at Las Huatas and 99 g/t at La Colonia
Las Huatas vein, 4m wide on the road to Mesa de Tres Ríos

13. DRILLING
At least three drilling campaigns by Minefinders and Pan American Silver
Over 188 holes, according to sequential numbering
94 holes with more than 23,500 m of drilling on El Rubi concessions, unknown numbers on the Esperanza concession
Pan American holds all the core, and the drill data on Esperanza
The drilling data on El Rubi was returned to owner

14. DRILLING AND RESOURCES
Definition drilling on 100 m centers
Heresay is: Two oreshoots with more than 200 K Oz Au defined at Las Huatas and Convirginia
CONVIRGINIA
LAS HUATAS

15. PUBLIC RESULTS
(On Esperanza claim)
Las Huatas Zone
Convirginia Zone

16. DRILLING HIGHLIGHTS (Whithin El Rubi claims)

17. EL RUBI - ESPERANZA property overview / Prospective Zones
Campo Santo
Six prospective zones within the concessions:
El Rubi
Campo Santo
Convirginia
Las Huatas
Pinos Altos
La Colonia
Convirginia
Las Huatas
La Colonia
Pinos Altos

18. EL RUBI ZONE
The largest rhyodacitic plug in the project, intruding andesitic flows
Up to 110 g/t Au and 6,700 g/t Ag
Over 200m of strike length with bonanza grade samples on surface
Only minor prospecting by Mine finders, Pan American Silver did not work in this area
No drilling!

19. CAMPOSANTO ZONE Complex set of dikes, wide stockwork zone
Up 10.8 g/t Au and 360 g/t Ag on surface,
g/t Au and 943 g/t Ag on underground working
Several subsidiary structures with anomalous geochemistry
6 drill holes
Best intercept : g/t Au

20. CONVIRGINIA ZONE
Wide swarm of rhyodacitic dikes into andesitic flow unit
Wide zones of stockwork quartz veining
Up to 16.8 g/t Au and 1,500 g/t Ag on surface
32 holes, results include 1 g/t Au, 96 g/t Ag, 11.7 g/t Au, 34 g/t Ag; 9.4 g/t Au, 1,358 g/t Ag; 7.8 g/t Au, 1,055 g/t Ag; 8.3 g/t Au, 198 g/t Ag, etc.

21. CONVIRGINIA DRILLING RESULTS
ppm Au, 96 ppm Ag
166c
173c
174c
175c
188c
136c
160c
134c
135c

22. LAS HUATAS ZONE Minor rhyodacitic dikes into andesitic flow unit
Up to 1.7 g/t Au and 73 g/t Ag in surface
49 drillholes. Results include: 13.8 g/t Au, 218 g/t Ag, 1 g/t Au, 81 g/t Ag; 0.8 g/t Au; 1.3 g/t Au, 29 g/t Ag

23. PINOS ALTOS ZONE
Minor rhyodacitic dikes into intermediate and felsic volcanic rocks sequence
Up to 4.3 g/t Au and 558 g/t Ag on surface
4 drillholes. Up to g/t Au, 23 g/t Ag; 1.14 g/t Au and 1.0 g/t Au
Favorable structures over 1.5 km long, plus anomalous arsenic and antimony on rock grid sampling

24. LA COLONIA ZONE
Possibly a down-dropped block along the basin and range fault, exposing an upper level of the epithermal system
Interpretation supported by spotty gold and silver values, as well as shallow epithermal elements like antimony and arsenic and argillic alteration

25. OTHER STRUCTURES
Only the most evident mineralization has been explored
Other non-explored structures
Convirginia
Structure

26. OTHER EXPLORATION OPPORTUNITIES
Pan American Silver ground (in yellow) has not been thoroughly explored,
Minefinder’s did exploration with prospectors, not geologists, on the area
All the exploration effort by Pan American was concentrated on definition of a resource, no prospecting, mapping or rockchip sampling was carried by them outside the drilled area on the outer claims
40 Km

27. REGIONAL EXPLORATION MODEL
Thick felsic – intermediate volcanic rocks sequence,
dominated by felsic tuffs an andesitic flows
Intruded by rhyodacitic dikes

28. REGIONAL EXPLORATION
El Tigre
Prospective Belt > 200 km long x 70 km in width,
with favorable volcanic rock formations
Multiple alteration zones from SGM 250 K geologic sheets strength the case for an unexplored stretch of the
prolific Sierra Madre Belt
El Rubi - Esperanza
Dolores

29. REGIONAL EXPLORATION
El Tigre
As a neglected exploration area, mining concessions cover only a limited amount of land
Multiple areas of alteration in ground open for staking
El Rubi - Esperanza
Dolores

30. STRONG POINTS WEAK POINTS
2,102 Ha consolidated claim package in a very prolific mineral belt
Easy access, paved road within 15 km of the property
Government maintained dirt road crosses the property
The area has seen mining in the past
Low population density - lesser probability of community issues
Multiple targets within the concessions
Favorable dacitic dikes mapped for more than 9 Km
High grade gold-silver drill intercepts in mineable widths (0.8 – 18.0 m)
Mineralization has more than 500 m of vertical span
Hearsay resource of > 200 K Oz AuEq in two ore shoots
WEAK POINTS
Hearsay resource relatively small, 200 – 250 K Oz AuEq
Pan American Silver envelops the El Rubi – Esperanza claims, and has not confirmed on what terms might option the ground
Pan American Silver has not stated what it wants for the core and drilling information
No metallurgy study yet