Through Minas Dixon, GBML’s 55% owned Peruvian subsidiary has granted Minsur the option to acquire the property on the Terms displayed on the table below:
In addition to these payments GBML holds .75% NSR on the property.
First payment has been received.
- Lara is an 1800 hectare property
- Minsur is building a $1.3 billion mine approximately 20 km away
Lara Drill highlights:
- 108 meters at .9%CuEq
- 218 meters at .81% CuEq
Footnote: Copper equivalents represent (Cu-Eq%) the value for each metal multiplied by the conversion factor, summed and expressed in equivalent copper grades. These results are exploration results only and no allowance is made for metallurgical recoveries. The conversion factors used were: CuEq (%) was calculated using US$2.80 per pound of copper and US$16 per pound of molybdenum. CuEq= copper % + (Mo% X 5.71428571)