At the Remolino target area, a fence of three drill holes was designed to test a coincident magnetic and gold-in-soils geochemistry anomaly that had similar characteristics as the original Falla 13 discovery. Of the three drill holes, two intersected anomalous copper and/or gold mineralization, including 12 m of 0.29 g/t gold from surface and 30 m of 0.14% copper (80 m - 110 m in depth) in drill hole 23MAR-025R and 20 m of 0.25 g/t gold (124 m - 144 m in depth) and 36 m of 0.18% copper (164 m - 200 m in depth) in drill hole 23MAR-026R. Importantly, copper mineralization at Remolino is characterized by intervals of secondary chalcocite copper oxide mineralization, indicating the possibility of a proximal copper sulphide source to the mineralization encountered in the Remolino drill holes.

Based on the new discovery of copper oxide mineralization at the Cototuda target and the long broad intervals of mineralization encountered at the Margarita copper oxide zone, the Company is planning on initial metallurgical test work from both zones to determine the leaching characteristics of the oxide mineralization encountered. In addition, a follow-up drill program is currently being planned on the newly discovered mineralized structure adjacent to the Falla 13 discovery, as well as along the Cototuda structural corridor and to test several remaining undrilled target areas. display:table-caption;caption-side:bottomFigure 1: Illustrates the location of the Margarita project within the Coastal Cordillera belt and its proximity to major deposits in the region.

display:table-caption;caption-side:bottomFigure 2: Illustrates the position of the discovery holes, 23MAR-031R and 23MAR-035R, at the Falla 13 and Cototuda target areas, respectively, as well as the significant copper oxide mineralization encountered in drill hole 23MAR-036R at the Margarita structural corridor.