100% Option Agreement
Inomin has an agreement (non-binding) to acquire a 100% interest in the La Gitana gold-silver property located in Mexico.
Established Mining Belt
The property is situated along a 120 kilometre long regional structure that hosts several mineral deposits and mines.
Near-Surface Gold and Silver
La Gitana hosts a low-sulphidation gold-silver epithermal system prospective for near-surface deposits. Gold and silver mineralization has been traced on surface over a 1.4 kilometre by 300 metre area.
Initial exploration drilling has discovered a gold and silver bearing zone approximately 400 – 500 metres long, 50 – 150 metres wide, and 50 – 200 metres deep.
The La Gitana property is located in Oaxaca State, Mexico along a regional fault structure that extends for approximately 120 kilometres. This mineral belt hosts several deposits and mines including Gold Resource’s (NYSE: GORO) La Aguila open-pit gold-silver mine, and Fortuna Silver’s (TSX: FVI) San Jose underground gold-silver mine.
La Gitana hosts a low-sulphidation gold-silver epithermal system in Tertiary-aged volcanic rocks. Gold and silver mineralization occurs in multistage quartz breccia-veins, quartz stockworks and locally as disseminations. The property contains two subparallel northwest trending mineralization and alteration corridors approximately 1 to 4 kilometres long, with widths ranging between 50 and 300 metres.
A 38-hole (8,231 metres) diamond drilling program, completed in 2006 by Chesapeake Gold Corp., tested a portion of one of the corridors, confirming the continuity of gold-silver epithermal mineralization at depth. Drilling intersected notable gold mineralized intersections in a zone approximately 400 to 500 meters long, 50 to 150 meters wide, and 50 to 200 meters deep. The gold-silver zones remain open along strike and at depth.