Ann: Corporate Presentation, page-52

Picha in southern Peru, 125km south-west of the regional centre of Juliaca, lies within belt of Tertiary age volcanic rocks that host a number of economically important mineral deposits, including the nearby Chucapaca copper-gold-silver deposit.

Minas Buenaventura-owned Chucapaca, only 17km south-west of Picha, boasts a resource of 132.8 million tonnes grading 1.42 grams per tonne gold, 10.8 g/t silver and 0.09 per cent copper. Importantly, the deposit contains more than 6 million ounces of gold and 46 million ounces of silver, presenting an enticing model for ongoing exploration at Picha.