AM Resources can earn a 60% interest in the Mico gold property by incurring minimum expenditures of $50,000 over a 12-month period. The property consists of one concession covering 10.4 hectares and is easily accessible from the village of Barranco de Loba. AM has also filed an application to acquire an additional 6,000 hectares.
The property is located within the Serrania San Lucas, a geological setting well known for its orogenic gold potential and host to a vein-type gold system within volcanic rocks, close to the Norosi batholith. North-northeast striking, steeply dipping decimetre-size veins and veinlet stockwork with grades ranging from 10 to 30 g/t Au have apparently been found in the past. No modern geological work has been performed on the property.
AM plans to conduct a ground geophysics survey to confirm the property’s potential in the coming months and will subsequently start drilling and prepare a mine plan.