• Assembled 18 mining concessions into a contiguous 55 square mile property — 35,200 acres or 14,256 hectare that encompasses the Nieves Silver Property.
• Expended about $20,500,000 to acquire, partially explore, assess and report, and maintain Nieves.
• Completed 15 carefully planned exploration programs: 11 drilling Programs (2003-2013), 2 Geophysical Programs, and 1 District Wide deposition Model.
• Discovered and assayed a reported 91,064,729 tons of silver ore with an average grade 40 g/t silver, using a 15 g/t cutoff containing 110,000,000 oz. silver and 116,000 oz. gold.
• Commissioned noted engineering firm, M3, to prepare a Form 43-101 Resource report and Preliminary Economic Feasibility Study.
• Determined the current delineated and reported silver resource can be exploited with an open pit mine, greatly reducing mining capital and operating costs.
• Commissioned a property-wide geophysical survey that indicates the three known major braided vein systems extend laterally an additional 8 km, discovered a fourth vein system south of the Santa Rita, two vein systems 10 km west of the Concordia and four
magnetic anomalies — the inferred source of Nieves’ extensive silver and gold mineralization.
• Acquired Quaterra Resources’ 50% interest in the
Quaterra/Blackberry JV for the development of Nieves leaving Blackberry with 100% ownership of Nieves.
• Commissioned two noted mining engineering firms, M3 and IMC, to undertake a pit optimization study with the objective of developing a starter open pit mine plan.
• Developed a pit optimization plan with a newly drawn shell perimeter to:
- Increase the resource amount
- Increase the average ore grade
- Upgrade the resource classification of the discovered silver resource that can be mined economically <$15 silver.
• Minimized capital shareholders dilution by funding exploration incrementally.
• Developed a three-stage exploration program and corresponding staged financing strategy to:
- Optimize the current drawn pit perimeter.
- Expand the optimized pit beyond the redrawn pit perimeter.
- Further explore the vast Nieves Silver Property in search of the source of it extensive mineralization.