It encompasses 2,941 hectares located in the southern sector of Maricunga Gold – Silver Belt, noted for its multi-million-ounce deposits such as Cerro Casale located 10 km to the east which has estimated reserves of 23 million oz of gold and 58.7 million oz of silver .
Surface rock chip sampling from the western “Ojos de Agua” alteration zone returned high grade assays of up to 47.6 g/t Au and 765 g/t Ag from 1 – 2 metre wide high sulfidation veins and up to 2.2 g/t Au and 20.6 g/t Ag from the surrounding altered host rock.
That survey, completed over the Ojos de Agua alteration zone, outlines a strong open ended chargeability/resistivity anomaly 50 – 90 metres below surface which extends to over 300 metres in depth.
Stuve Gold does not earn an interest in the Inca Property until the full purchase price of US $6,150,000 has been paid, but Stuve Gold may stop making payments towards the purchase price at any time and Stuve Gold is not obligated to make any additional payments towards the purchase price thereafter.
To fund initial exploration efforts on the Inca Property, the Corporation intends to complete a non-brokered private placement of up to 6,000,000 units of the Corporation .
Stuve Gold may pay a cash commission or finder’s fee to qualified non-related parties of up to 7% of the gross proceeds of the Private Placement and issue broker warrants equal to up to 7% of the number of Units sold in the Private Placement.
Completion of the Private Placement is subject to regulatory approval including, but not limited to, the approval of the TSX Venture Exchange.
Stuve Gold is engaged in advancing mineral exploration on properties in Chile that exhibit promising potential for gold, copper, silver and cobalt as a result of historical mining activities on, or associated with, such properties.
This news release does not constitute an offer to sell or the solicitation of an offer to buy any securities in any jurisdiction.
Such factors include, but are not limited to: general business, economic, competitive, political and social uncertainties; delay or failure to receive board, shareholder or regulatory approvals; the price of metals including gold, silver copper and cobalt; and the results of exploration programs. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements.