The Company purchased a 100% interest in the El Horcón Silver-Gold Project in Jalisco State, Mexico in 2012 for total consideration of US$1,600,000 in cash. El Horcón covers 7,908 hectares in 17 contiguous mining concessions and is located 60 kilometres northwest of the GMC (100km by road).Uggs angebot The Company entered into an option agreement in May 2015 to acquire a 100% interest in the Coricancha Mine Complex. Coricancha is a gold-silver-copper-lead-zinc mine, located in the Peruvian province of Huarochiri, approximately 90 kilometres east of Lima, and has been on care and maintenance since August 2013. Coricancha has a fully-permitted and operational 600 tonne per day processing facility along with supporting mining infrastructure.
In May 2015, the Company completed the acquisition of Cangold and its wholly-owned subsidiary,Uggs angebot Coboro, for total consideration of $3,093,000 (approximately half of which was represented by shares of the Company issued for shares of Cangold). As a result, the Company acquired an option to purchase up to a 100% interest in the advanced stage Guadalupe de los Reyes gold and silver project (the “GDLR Project”) located in the foothills of the Sierra Madre Mountains in the state of Sinaloa in northwestern Mexico.
The Company also acquired 100% interests in the Plomo property located in Sonora, Mexico and the Argosy property located in the Red Lake Mining District in northwestern Ontario. On February 24, 2016, the Company terminated the option agreement for the GDLR Project after conducting an evaluation of the project,Uggs angebot including an initial drill program, as the results of the evaluation did not warrant continued exploration work.