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Kings Minerals N.L. (Listed on Australian Stock Exchange)

An Australian company that optioned a Luismin property from Wheaton River and is pursuing it with agressive drilling.

San Anton Project, Guanajuato.

Located 270km NW of Mexico City in Guanajuato State

• Guanajuato City (capital of Guanajuato State), founded in 1554, has been a prolific silver and gold producer since 1548 with historic production of >22.5 Moz Au Eq
• Guanajuato lies within the highly productive silver metallogenic province in Mexico (Mexico is the world's largest silver producer)
• San Antón located 20km ENE Guanajuato City and historic mining area
• Luismin discovered porphyry style mineralisation at San Antón in 1998 (15 drill holes for 3,550m). Limited modern exploration completed
• Major target identified is a gold-rich porphyry system containing silver, copper and possibly molybdenum, zinc and lead credits. Full extent of porphyry system not yet defined
• Hypogene alteration and gold-silver copper base metal mineralisation is concentrically zoned around a quartz monzonite stock with the highest gold-silver grades found in the enclosing "hornfels"
• Potential gold equivalent grade of ~1.2 - 1.8g/t over an annulus width of >200m around the intrusion
• Significant results include:
- Core drilling: 200.25m @ 1.20 Au Eq terminated in mineralisation (copper and other base metals not included)
- Core drilling: 215.75 @ 1.17 Au Eq terminated in mineralisation (copper and other base metals not included)
- Trenching: 160m @ 1.76g/t Au Eq (Mo not included, open both ends)
• Mineralisation open in all directions - laterally, along strike and at depth >400m below surface indicating potential for a large system. Exploration is cognizant that other blind deposits may be clustered in this porphyry environment
• Limited modern systematic exploration completed
• Historic production of 40,000 tonnes of ore grading 5g/t Au and 350g/t Ag (~10g/t Au Eq) from epithermal veins peripheral to porphyry deposit
• Potential for additional high grade epithermal deposits, eg follow-up nearby vein intersection of 0.7m @ 23.70g/t Au and 1,507g/t Ag
• Year round accessibility, undulating topography, good access, water supply, infrastructure
• Simple metallurgy using gravity and flotation for metal recovery
• Free gold observed, no refractory gold reported, range of silver minerals identified
• Analogous to other world class porphyry deposits, eg Cadia Valley Porphyry System (25Moz gold, 3.2Mt copper). Newcrest's most profitable project
• An aggressive, cost-effective exploration planned, including drilling to define resources, high resolution airborne magnetic and radiometric surveys, gradient array and dipole-dipole IP, stream sediment geochemistry and geological mapping