The Pucarana project, is a joint venture with Estrella Gold Corporation, it is located in a productive gold-silver district in south-central Peru. It lies between the Chipmo and Poracota mines, which combined, produced 370,000 ounces of gold in 2009. This advantageous land position within a producing district places Esperanza in a unique position to make a new discovery.
Regional setting of the Pucarana JV in a belt of producing mines.
Rock chip samples up to 2.9 g/t Au together with strong alteration and promising geologic structures point to favorable vein drill targets on Cerro Talla-Talla. Necessary permits have been received and have planned a 2,500 meter drill program to start in April 2011.
Satellite image showing Pucarana JV concession and adjacent mines.
Nearby producing mines from underground reserves.
Cerro Talla-Talla drilling target area.
Esperanza has an option to earn a 60 percent interest in the property under an agreement with Estrella Gold Corp. Esperanza must spend a total of US$ 1.3 million over a four year period beginning from the receipt of necessary drill permits, and making combined cash payments of US$80,000.
Satellite view of Cerro Talla-Talla showing geology and proposed drill holes.
Schematic cross-section showing geology, veins, and proposed drill holes.