The DynaMexico Luna-CAM SJG Technical Reports included as Item 14.0 a NI 43-101 Mineral Resource Estimate as prepared by Mr. Robert Sandefur BS, MSc, P.E., a senior reserve analyst for Chlumsky, Armbrust & Meyer LLC, Lakewood, CO. ("CAM"), and a Qualified Person as defined under NI 43-101 (the "2012 DynaMexico-CAM SJG Mineral Resource Estimate", and the "Mineral Resource Estimate").
The 2012 DynaMexico-CAM SJG Mineral Resource Estimate concentrates on four separate main vein systems at SJG: Tres Amigos, San Pablo, La Union, and La Purisima. The Mineral Resource Estimate includes Indicated Resources at: (1) Tres Amigos of 893,000 tonnes with an average grade of 4.46 g/t, totaling 128,000 Oz. Au; and (2) San Pablo of 1,308,000 tonnes with an average grade of 6.52 g/t, totaling 274,000 Oz. Au. The Resource Estimate also includes an Inferred Resource of 3,953,000 tonnes in aggregate for the four main vein systems, with an average grade of 5.83 g/t, totaling 741,000 Oz. Au. The Effective Date of the 2012 DynaMexico Luna-CAM SJG Technical Reports and including the 2012 DynaMexico-CAM SJG 43-101 Mineral Resource Estimate is February 6, 2012. The Mineral Resource Estimate is reported using a 2.0 g/t cut off grade for underground mining. As of the Effective Date of the Technical Reports and Mineral Resource Estimate, there is no economic assessment report completed for SJG so the precise cutoff grade for possible underground mining has not yet been determined.
A preliminary economic assessment study, or similar preliminary evaluation, is expected to be commissioned by DynaMexico in the near future.
About DynaUSA and DynaMexico
DynaUSA is a resource investment and management company based in Irving, Texas, with a current focus on the San Jose de Gracia Project in Mexico, targeting growth in the defining and production of predominately gold resources. DynaUSA formed its subsidiary, DynaMexico, in March 2000 specifically for the purpose of acquiring and consolidating the mining concessions and related interests forming the SJG Project. The consolidation of the entire SJG Project to DynaMexico was completed in 2003, which at that time consisted of approximately 15 Sq. Km. of mining concessions, * except for the San Miguel Mining Concession (7 Hectares, which DynaMexico is endeavoring to accomplish the transfer of title to DynaMexico, under previously signed sale and purchase agreements).
During the period 2003-2006, DynaMexico conducted Pilot Production operations at the San Pablo area of SJG, reporting production results of: 18,250 Oz. Gold produced; 42,000 tons mill feed; average feed grades of approximately 15-20 g/t Gold; and, average production costs of less than $175./Oz.
In September 2006, the Company and DynaMexico entered into an Earn In/Option Agreement with Goldgroup Resources Inc., subsequently Goldgroup Mining Inc., of Vancouver, BC. ("Goldgroup") and granted options to Goldgroup to acquire up to 50% of the outstanding shares of DynaMexico by financing $18 Million USD in capital contributions to DynaMexico and to be expended by DynaMexico in exploration/development costs at the SJG Project. The final option under that option agreement was exercised in March of 2011, so that Goldgroup now holds 50% of the outstanding shares of DynaMexico, and DynaUSA retains 50 % of the outstanding shares of DynaMexico.
Exclusive Operating Entity at San Jose de Gracia
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