San José Mine

The Property Encompasses 

687,000 ACRES

The San José Property is located in the northwest corner of the Deseado Massif in the Santa Cruz Province in Argentina, where Jurassic bimodal volcanics host numerous quartz veins bearing gold and silver. Low sulphidation silver-gold and polymetallic mineralization accompanied Jurassic magmatism and deformation in the Deseado Massif.

The mine is part of a larger property which covers a total area of approximately 1,074 square miles (2,781 square kilometers) and consists of 135 mining concessions. The sizable land package provides good potential for additional resource and reserve expansion.

The Jurassic Bajo Pobre Formation is the main host for gold and silver mineralization, where veins are typically developed in competent andesite flows at the Huevos Verdes, Frea and Kospi deposits on the San José property and to a lesser extent in volcaniclastic units.

Mineralization in the San José area occurs as low sulfidation epithermal quartz veins, breccias and stockwork systems accompanying normal-sinistral faults. The main structural trend of fault and vein systems on the property is northwest to north-northwest, together with less prominent east striking and north to northeast striking faults and veins.

The San José property remains under-explored. We continue to identify promising structures and extensions through sustained exploration efforts adjacent to current operations.

Recent exploration has delivered high-grade results in several areas, notably the Odin and Frea veins. At Frea, mine geologists have outlined a zone of consistent mineralization extending approximately 250 meters along strike and 200 meters vertically, currently undergoing infill drilling. One notable drill hole, included in our Q1 2024 results, intersected 12 meters at 12.7 grams per tonne gold and 101 grams per tonne silver.

At the Odin open pit, drilling aims to extend the pit to the northwest. Promising intersections include 6.2 meters at 23.3 grams per tonne gold and 314 grams per tonne silver.

Furthermore, exploration activities on the San José Property will expand later in 2024 to include drilling and trenching on greenfield targets to the north and south of Newmont's Cerro Negro mine. This strategic approach is designed to maximize the discovery and extraction of gold and silver across the property.