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.