Samalayuca is VVC’s Focus Property - a copper project in Northern Mexico. It is the Company’s project that is closest to production. Currently in Phase III of drilling of a 3 phase drilling program focused on a pilot mine. Phase I and II of drilling were completed in 2017 and 2018.
Investment Rationale for Samalayuca site:
Site has been mined in the past and was economically viable with primitive mining methods
High probability - earlier resource estimates borne out by Phase I and II drilling - the copper deposits are concentrated and close to surface, making a commercially attractive Pilot mine possibility viable.
Northern Chihuahua State of Mexico
60 kilometers southwest of El Paso, Texas
4,055 acre property 10 kilometer long by 3 kilometer wide.
VVC optioned 33.75% of the Samalayuca project in October 2013 and assumed management control, increasing that option to 67.5% in 2015.
This is a previously-producing property operated by local miners selling ore to Asarco’s smelter in El Paso, Tx into 1970.