Vila Marieta

Possible southwest extension of the Cerrito Deposit

The Vila Marieta discovery was made in the second quarter of 2023. This discovery, which may be the southwest surface extension of the Cerrito Gold Deposit, is noteworthy for two reasons: significant higher-grade surface mineralization and long intervals.

Hole 22VM001 returned 28.00 metres at 1.3 g/t gold from surface including 4.00 metres at 2.4 g/t gold from 7.00 metres and 5.0 metres 2.5 g/t gold from 16.00 metres. It also returned a long interval of 53.00 metres at 0.7 g/t gold from 139.00 metres including 7.7 metres grading 1.0 g/t gold from 148.00 metres.

These results are consistent with results elsewhere on the property: lower grade halos of mineralization of 0.6 or 0.7 g/t gold with higher grade intervals in between. At 1.3 g/t gold, the average gold grade from this surface mineralization is 85% higher than the average grade of the Cerrito Gold Deposit.

This has important positive implications for optimizing future potential open pit mining scenarios since higher-grade surface mineralized material would ideally be mined first.

Average gold grade from surface mineralization in drillhole 23VM001 is 1.3 g/t gold, 85% higher than average gold grade at Cerrito