Peru: 2nd Ranked Mining Jurisdiction in South America

Peru Is A Worldwide Leader In Mining

  • Stated goal of government of Peru (2019) to be in top 10 countries globally for mining attractiveness by 2021
  • In 2019 Peru ranked 12th globally for best practices mineral potential – best in South America, by Fraser Institute
  • Peru is a global leader in mineral production:
    • 2nd globally for copper production
    • 2nd globally for silver production
    • 6th globally for gold production
  • Mining typically accounts for close to 14% of GDP and 60% of total exports. Government recognizes its importance
  • Fiscal regime favourable / government streamlining mining regulation to encourage growth in exploration / developmen
  • Despite exceptional geology, Peru remains under-explored
  • Improving infrastructure and government commitment to mining (2020 and beyond) present unique opportunities

High-Grade Gold Potential in Very Active Mining District

Muylaque

800 hectares of highly prospective concessions.


  • 2 main concessions
    • Multiple target areas, including zones of historic high-grade community mining
    • 15 g/t gold and 20% copper cut-off for regional processing*
    • Historically up to 30 tons ore daily production
    • Companies with rights to property previously included First Quantum Minerals
    • Property wide sampling, geological mapping and airborne geophysical surveying highlighted new target areas

 

  • Rock grab samples / samples from community mining: Au 0.16-3.5 oz, Ag 2.0-10.0 oz, Cu 0.4 to 21.24%*
  • New US$10 million government sponsored road provides improved access to key target areas across the property
  • Majors active in District include: Vale, Southern Peru Copper, Anglo American, Hudbay and First Quantum Minerals
  • Notable producing mines include:
    • Cuajone – reserves estimated at 1.6 billion tonnes at 0.57% Cu * *
    • Quinsacolla – reserves estimated at 1.1 billion tonnes at 0.55% Cu * *
    • Pinco Pinco and Quellaveco

*Provided by Conico Resources Ltd. and included / referenced in Company press release dated October 13, 2020.
A qualified person has not done sufficient work to classify any of these estimates as current mineral resources or mineral reserves and these estimates are being treated as historical in nature and not as current mineral resources or mineral reserves. These historical estimates are presented for context only and should not be relied upon for assessing the merits of the Muylaque or Libertador concessions.

* * Sourced from Wikipedia, relevant company reports, and other publicly available information. A qualified person has not done sufficient work to classify any of the estimates discussed in this Presentation as current mineral resources or mineral reserves

High-Grade Gold Potential in Very Active Mining District

Libertador

4,357 hectares of highly prospective concessions


  • 7 main concessions
    • Multiple target zones, including 2 zones of historic community mining
    • Privately owned since 2012 by a subsidiary of the AJE Group,  Lima based Latin American multinational
    • Geological mapping, sampling, ground geophysics, underground work, leach tests, extensive community consultation
    • Rock Grab samples across several zones: Au 2.2 – 9.3 g/t; Ag 49 – > 100 g/t – see map for details*

 

  • Permits in place for initial 20-hole drill program
  • Majors active in District include: Placer Dome, Cambior, Pan American Silver, Gitennes and Barrick
  • Majors active in District include: Vale, Southern Peru Copper, Anglo American, Hudbay and First Quantum Minerals
  • Notable producing mines include:
    • Lagunas Norte – Au reserves estimated 3.95m oz – production approx. 245,000 oz (2018) * *
    • La Arena – Au resource estimated as > 3.5m oz* *
    • La Virgen and Shahuindo 

*Provided by Condoro Explorations Inc. and included / referenced in Company press release dated October 13, 2020.
A qualified person has not done sufficient work to classify any of these estimates as current mineral resources or mineral reserves and these estimates are being treated as historical in nature and not as current mineral resources or mineral reserves. These historical estimates are presented for context only and should not be relied upon for assessing the merits of the Muylaque or Libertador concessions.

* * Sourced from Wikipedia, relevant company reports, and other publicly available information. A qualified person has not done sufficient work to classify any of the estimates discussed in this Presentation as current mineral resources or mineral reserves

Fast-Tracking Exploration


  • Binding LOI structure enables early work to be carried out on the Properties
  • Work will commence immediately and encompass site visits for 43-101 technical reports
  • Work will validate / expand on historic assay results and reported grades from Community Mining
  • Work will test any additional zones / areas of interest highlighted including possible drill targets
  • Work will enable recommendations for more in-depth programs following Definitive Agreements