A Silver Opportunity Primed for Its Debut
A Silver Opportunity Primed For Its Debut
Alcon has a historical inferred resource totalling 4.6 million tonnes grading 90.88g/t Ag, 1.66% Pb and 1.69% Zn) and a portfolio of Silver exploration projects recently optioned from Pan American Silver.
1. Alcon Silver Corp. is not treating this historical resource estimate as a current mineral estimate. See Disclaimer.
Strong Shareholder Base
Pan American Silver holds 5%, Management/ Insiders hold 24%, and High-Net-Worth investors hold 40%
Non-Dilutive Share Structure
“Investor in mind” mentality, with only 33.6M shares outstanding, no options, no warrants, no debt
Unparalleled Experience
Management experience from BHP Billiton, Eldorador Gold, Oz Minerals, and Horchschild Mining
Well Endowed Mining Jurisdiction
Peru is one of the top 10 mining jurisdictions in the world
Alcon recognizes this resource estimate as a historical resource and is not treating it as a current mineral resource. This historical resource estimate was stated as an Inferred Mineral Resource in a fully compliant NI 43-101 technical report filed on SEDAR on 29-July 2011 by Caracara Silver Inc. (Vachon, 2011). Verification of this historical resource would require additional drilling to confirm historical intersections. The historical estimate was based on 24 out of 64 available diamond drill holes (DDH) when the 2011 technical report was prepared. Data from fifteen (15) DDHs drilled in 2013 not included in the 2011 resource calculation are now available in Caracara’s historical drilling database. Key parameters in the historical resource calculation: minimum true thickness = 1.2m; dip of structure = 60o; specific gravity = 2.75g/cc; radius of influence = half distance to nearest neighbor; high-grade samples not cut.
The Caracara 2011 historical resource estimate cannot be relied on due to the destruction of historical drill core, loss of corresponding sampled material (pulps and rejects) and lack of sufficient work by a Qualified Person to assess the validity of the historical estimate. The historical estimate may be validated by completing a series of replicate holes in a future drill program on the property.
¹This historical resource estimate was stated as an Inferred Mineral Resource in a fully compliant NI 43-101 technical report filed on SEDAR+ on 29-July 2011 by Caracara Silver Inc. (Vachon, 2011). Verification of this historical resource would require additional drilling to confirm historical intersections. The historical estimate was based on 24 out of 64 available diamond drill holes (DDH) when the 2011 technical report was prepared. Data from fifteen (15) DDHs drilled in 2013 not included in the 2011 resource calculation are now available in Caracara’s historical drilling database. Key parameters in the historical resource calculation: minimum true thickness = 1.2m; dip of structure = 60o; specific gravity = 2.75g/cc; radius of influence = half distance to nearest neighbor; high-grade samples not cut. The Caracara 2011 historical resource estimate cannot be relied on due to the destruction of historical drill core, loss of corresponding sampled material (pulps and rejects) and lack of sufficient work by a Qualified Person to assess the validity of the historical estimate. The historical estimate may be validated by completing a series of replicate holes in a future drill program on the property.
Hole | From (m) | To (m) | Intersection1 (m) | Silver (g/t) | Lead (%) | Zinc (%) |
PR-02 Values from Chance tech report 2022 Table 9. Significant Intersections |
121 | 155 | 34.0 Values from Chance tech report 2022 Table 9. Significant Intersections |
66.1 | 1.08 | 1.6 |
N/A | 26.7 | 30.1 | 3.4 | 61 | 5.8 | 1.6 |
PRIN-06-05 | 3.5 | 36.2 | 32.7 | 93.2 | 1.45 | 1.33 |
PR-09 | 6.8 | 24 | 17.4 | 86.4 | 2.48 | 0.18 |
PR-11 | 40.8 | 55.8 | 15.0 | 214 | 1.17 | 0.67 |
PR-53 | 61 | 73.6 | 12.5 | 570 | 2.50 | 1.02 |
PR-61 | 91.5 | 109.5 | 15.0 | 174 | 5.02 | 1.76 |
Note: Intersections are reported as core lengths and are not necessarily true thickness. Refer to NI 43-101 technical report on the La Princesa Property prepared for Alcon Silver (Chance, June 24, 2024) available online at SEDAR+. All technical information was derived from drill campaigns completed by Caracara Silver (2006-2013) and subject to QAQC protocols administered by Caracara Silver.
The potential quantity of a mineral resource on Caujul is conceptual in nature since there has been insufficient exploration to define a mineral resource. In addition, it is uncertain that further exploration on the Caujul property will result in defining a mineral resource. The statement of potential mineral resource is based on recent exploration programs completed by PAAS characterizing the extent and quantity of mineralized veins and reported in a PAAS internal technical report dated November 2020.
Alcon is optimistic that there is potential for discovery of 40 to 60 Moz Ag based on a Pan American Silver internal report (November 2020)1.
*Pan American Silver Caujul project presentation titled “Prospecto Caujul” (Slide 5, Resumen) quotes minimum 50 Moz silver potential (November 24, 2020)
1Candente Copper Corp. news release July 11, 2006 and May 10, 2007. QAQC information regarding acquisition of this geophysical data is not available.
Sample # | Type | Width (m) | Gold (g/t) | Silver (g/t) | Copper (%) | Lead (%) | Zinc (%) |
E510 011356 | Channel | 0.2 | 2.54 | 1590 | 0.14 | 0.98 | 0.10 |
E510 114556 | Channel | 0.3 | 1.82 | 127 | 0.01 | 0.08 | 0.03 |
E510 009986 | Channel | 1.0 | 1.23 | 107 | 0.01 | 1.08 | 0.02 |
E510 011337 | Rock Chip | 0.3 | 1.52 | 904 | 0.10 | 1.87 | 0.03 |
E510 114866 | Channel | 0.2 | 1.58 | 1147 | 0.07 | 0.21 | 0.04 |
E510 114874 | Channel | 0.6 | 0.29 | 951 | 0.01 | 0.09 | 0.03 |
E510 039373 | Channel | 1.0 | 3.15 | 1447.3 | 0.14 | 6.46 | 9.08 |
E510 042539 | Channel | 0.25 | 0.52 | 318 | 1.96 | 20.00 | 9.97 |
E510 042586 | Channel | 0.9 | 2.12 | 547 | 0.08 | 2.57 | 0.30 |
E510 042589 | Channel | 0.3 | 0.78 | 414 | 0.12 | 3.89 | 1.50 |
E510 114999 | Dump | N/A | 2.67 | 1072 | 0.37 | 1.43 | 0.08 |
1All samples were collected across the true width of vein structures except for ‘dump’ sample. Refer to NI 43-101 technical report on the Caujul Property prepared for Alcon Silver (Park, 2023) available online at SEDAR for sample location maps, sample descriptions, assays, geological maps, and interpretation.
Steven L. Park: Author NI 43-101 Technical Report-Caujul. Graduated Mackay School of Mines at the University of Nevada-Reno, 1983, M.Sc. in Economic Geology. Mr. Park has practiced as a professional geologist more than 30 years in the Americas including more that 20 years continuous exploration experience in Peru. Mr. Park is a member in good standing with the American Institute of Professional Geologists and is a Certified Professional Geologist
Patrick N. Chance: Author NI 43-101 Technical Report-La Princesa. Graduated in 1975 from Queen’s University at Kingston with a B.Sc. (Applied Science) in geological Engineering and graduated from the University of Western Ontario with a M.Sc. in geology in 1981. Mr. Chance is a Professional Engineer in the province of Ontario and has practiced as an exploration geologist for 41 years including with the Mina Tintaya porphyry-skarn resource development project in Peru.
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