CSE:HSLV

ALTA VICTORIA

Central Peru

Historic Production

World-Class District

Under-Explored

Description

WORLD CLASS MINING JURISDICTION

  • PREMIER SILVER-POLYMETALLIC DISTRICT
    • Over 1.5B oz silver production
  • MAJOR MINES & DEPOSITS
    • Morococha (Pan American Silver)
      • > 200 Moz AgEq. > 100yrs continuous production
    • Julcani (Buenaventura)
      • >128M oz @ Ag @ 16 opt
    • Toromocho (Chinalco)
      • 1.5B Mt @ 0.48% Cu porphyry
    • Uchucchacua (Buenaventura)
      • ~310M oz Ag @ 16 opt

* Information regarding mineral resources, geology, mineralization, and production history on adjacent or similar properties is not necessarily indicative of the mineralization of Alta Victoria.

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Perú Ranking in world metal production: Silver 2nd, Copper 2nd, Zinc 3rd, Lead 4th, Tin 4th, Gold 8th

Source: USGS

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Photo Gallery

Highly Prospective Setting

STRUCTURE

  • Alpamarca Fault – Regional scale overthrust & first order control to major deposits in the belt

STRATIGRAPHY

  • Siliciclastic and limestone sediments with intermediate, feldspar porphyritic dikes, sills, stocks

MINERALIZATION

  • Ag-Zn-Pb (Au) manto, veins, breccias, stockwork & replacement zones
  • Historic production from multiple mines
(Click image to enlarge)

Styles of Mineralization Exposed At Surface

Santa Teresita Target Concept

  • Coincident anomalous soil and rock geochemistry, outcropping alabandite (manganese oxide) and IP chargeability anomaly produced initial drill target
  • First phase drilling: Modest Ag and base metal grades hosted in massive alabandite demonstrate fertile mineral system. Mineralisation and alteration analogous to upper portions of the high grade Uchucchacua mine.
  • Second phase drilling to target potential high grade ore body in Santa formation limestones, subjacent to 2022 drilling.
  • Santa formation limestones are the host rocks for the Santader and Iscaycruz mines.
(Click image to enlarge)

Uchucchacua (UC) analogue – similar mineralisation and alteration at the top of both systems

    • UC historic production of > 110 Moz high grade Ag*
    • Massive alabandite (MnS) – grades into high grade silver ore bodies at UC
    • Modest Ag and base metal grades in upper portions at UC
    • Fluorescent (hydrothermal) calcite
    • Producing veins at UC crop out as modest mineralised structures
    • Majority of ore at UC below 4,500m elevation (elevation of 2022 Santa Teresita drilling)
* Source: Buenaventura Investor Presentation, 2022
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2022 Drill Program

Santa Teresita Drilling:  Total drilling of 1,092.5m in six holes.

 
Significant Intercepts in five of six holes

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Cross Section Drill holes AV22 – 12, 13, 14 & 15

Cross Section Drill holes AV22-16 & AV22-17

2022 Exploration Summary

POSITIVE DRILL RESULTS AT SANTA TERESTITA

  • Significant intercepts reported in 5 of 6 drill holes
  • Several lines of evidence point to an Uchucchacua analogue
  • Next phase of drilling to target down dip of the confirmed alteration and mineralisation

PACHAS DRILLING

  • Mineralisation and alteration limited to narrow intercepts within the drilled stratigraphic levels
  • Exploration potential remains within receptive host rocks at depth
(Click image to enlarge)

2021 Exploration Summary

Expanded & refined drill targets of Pachas & Santa Teresita Areas

PACHAS

  • Confirmed prospectivity of down dip extension of Adriana North manto mineralization
  • Gravity & magnetics survey enhance/define drill targets below & down dip from Buena Estrella breccia, vein & manto mineralization
  • Surface sampling & mapping defines key NE trending structural corridors

SANTA TERESITA

  • Detailed mapping & sampling of outcropping Ag-Mn mineralization
  • Plan for drill testing 2022

Grass roots reconnaissance discovery of 3 discreet zones of mineralization

MARCA PLATA

  • 250m x 150m target area defined as possible Santander analog

NINARUPA

  • Discovery of two zones of zinc rich mineralization along Alpamarca Fault
  • “Zone 2” with significant scale implications
(Click image to enlarge)

2021 Reconnaissance, North Block

2021 Marca Plata Discovery

A Santander Analog(?)

2020 Scout Drill Program Results

SANTA TERESITA

  • 6 holes – 1,964m drilled
  • Tested coincident Au, Ag, Pb and Zn surface rock and soil along structural controls with underlying charge-ability highs

PACHAS AREA

  • 1 hole – 336m drilled
  • Tested Sanguinetti mine structure
  • Anomalous Au, Pb, Zn

SIGNIFICANT INTERCEPTS

* Reported intervals do not represent true thickness. True thickness is unknown at this time.

Target Model

CARBONATE REPLACEMENT DEPOSIT (CRD)

  • Large alteration footprint
  • Ore Minerals: Ag, Pb, Zn + Au + Cu
  • Geochemistry: Mn, Mo, As, Ba. Bi, Sb
  • Form lenses, pipes, breccias, veins and stockwork zones
  • Associated with IP chargeability geophysical anomalies

MAJOR DEPOSITS of the Central Peru Polymetallic Belt

HOSTED BY MESOZOIC SEDIMENTARY ROCKS

Antamina – World’s largest Cu-Zn skarn

Cerro de Pasco – Peru’s largest CRD deposit (600M oz Ag)

Uchuchacua – S. America’s largest primary Ag producer

Morococha – over 100 years continuous production

Toromocha – 1.5B mt 0.5% Cu (Porphyry Cu-Mo deposit)

Iscaycruz – No current info available

Chungar – 10mt 4.6% Zn, 1.5% Pb, 2opt Ag

Santander – Resource, reserve 8.77 Mmt, 5.27% Zn, 0.27% Pb, 18.6 g/t Ag

Alta Victoria

IP Geophysics

HIGH CHARGEABILITY ANOMALY CONTINUOUS OVER 5.6KM STRIKE

  • Known Ag-Pb-Zn mineralization is invariably associated with pyrite
  • IP anomaly hosted in siliciclastics along a NNW trending thrust/fold axis
  • IP anomaly is open to the NW, SE and down-dip
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Note size of Target Zones – comparable to Cerro de Pasco pit outline (inset map)