Diversified Mineral Group has entered into a NON-Binding Letter of Intent to develop the Cahuilla Project
Cahuilla
Cahuilla “Company’s Main Asset” – is located in mining friendly Imperial County, California. Mine Development Associates completed a NI 43-101 resource report; reporting an indicated resource of 1.261 Million ounces of gold and 14.37 Million ounces of silver. There was also an additional inferred resource is reported of 184,800 ounces of gold and 1,638,800 ounces of silver. The Amended Report was filed on Sedar on March 18, 2021.
- Teras owns or controls approximately 1800 acres of prospective land and the resource only occupies 143 acres leaving over 90% of the project available for growth (many historic drill holes that cover the remaining project area host strongly anomalous precious metal mineralization).
- New Gold’s Mesquite Mine is in full operation in the same county as Cahuilla approximately 50 miles to the southeast.
- Cahuilla is in an ideal location for mining year-round with excellent infrastructure including improved roads throughout the project, high voltage power lines directly adjacent to the project and an ample water supply.
- Cahuilla encompasses a series of high grade veins running the length of the project in which returned intercepts of up to 135 g/t gold and 1040 g/t silver.
- Teras completed detailed geophysical surveys in February 2013 and technical analysis of the results demonstrates significant anomalies below the resource and we feel this could represent the potential feeder system.
- Cahuilla received permits in November 2015 to drill 2000 new holes.
- Discovery of higher gold/silver grades in sub-vertical sheeted veins from angled diamond drill program in June 2014.
- Geophysics and detailed geologic investigations have defined multiple high grade shallower sheeted vein and deeper feeder vein targets throughout the project area.
- The existing NI 43-101 resource has restricted the higher-grade gold/silver values due to the lack of continuity resulting from predominantly vertical reverse circulation drilling.
- Only a small percentage of this extensive epithermal system has been properly tested by angled core drilling.
- Mineralization continues to significantly expand in all directions along strike and at depth; new extensive targets in the southwest and northeast project areas remain to be drill tested.
