Additional Properties
The company currently has acquired an additional 13,061 ha of wholly owned mining concessions that cover prospective iron properties in seven separate areas of northern and southern Perú. This total includes 5,200 ha of additional mining concessions (Bob II, 3, 4, 5, 6, 7, 8 and 9, Fierroando 1, Julian 01, 02, 03 and 04) located in the vicinity of the Company’s Cerro Ccopane Property.
The concessions can be grouped in the following property areas; concessions within a designated area may or may not form contiguous groups but nonetheless are located geographically near to each other:
Northern Perú
- Olmos - 300 ha in one concession (Karina 03)
- Trujillo - 1,561 ha in eight concessions (Blanquita II, Charango 1 and 2, Francisca Victoria IX and XI, Arena Dorada, Tigre I, and Palosanto 2007 - 1)
- Chimbote - 400 ha in two concessions (La Gringa Ga, and Sabrina I)
- Aija - 1,500 ha in three concessions (Flamenco 1 and 3, and Iron Mine)
Southern Perú
- Arequipa - 1,000 ha in one concession (Sur 1)
- Marcona - 700 ha in two concessions (Alexia 2007 - I, and Hans Cad 3)
- Apurimac - 2,400 ha in four concessions (Posada 4, Johman 1 and 2, and Huini I)
The northern properties have excellent infrastructure being located close to the Pacific coast and the Pan American Highway. They are also found to be at relatively low altitudes in arid areas that can be worked year round. Portions of some of the concessions have been exposed to small-scale mining and iron mineralization on these properties consists of massive magnetite, hematite or goethite. The most advanced of the Cuervo properties are considered to be the Chimbote concessions, which are permitted for advanced exploration; these concessions are located approximately 40 km from the steel foundary of Siderperu located at Chimbote, Ancash.
The company continues to carry out reconnaissance field activities to evaluate these and other prospects in Perú.
