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LLUVIA DEL ORO
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Key Facts
Location:
Sonora, Mexico
0 km of MAGDALENA DE KINO Commodities: Gold
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Comparable Properties |
Latest Information December 30, 2006 This former open-pit gold and silver mine is currently on care and maintenance. In 1998, the mining operations were shut down. In 1997, the mine was scheduled to produce 814.9 kg of gold, and 3110.34 kg over a 4 year mine life. An exploration program designed to upgrade and expand resources was scheduled to begin during the first half of the year. In the 3rd quarter/97, hole L239 of a 6 hole drill program intersected 30 m grading 1.5 g/t Au, L240 intersected 14 m grading 1.62 g/t Au, L241 39 m grading 2.29 g/t Au and L242 intersected 18 m grading 1.33 g/t Au. Exploration drilling in the second quarter/97 expanded the proven reserves by more than 60%.  April 9, 1999 Santa Cruz Gold announced that it has entered into an agreement to sell the Lluvia de Oro Gold Mine, in Sonora, Mexico for a cash consideration of US$120,000 and the assumption of certain liabilities. The transaction is scheduled to close on or about April 26, 1999. The company also added that it knows of no material reasons for the recent trading volume and increase in stock price. January 31, 1997 Crushing operations were recently terminated. As a result, life-of-mine cash operating costs for the run-of-mine operation were estimated to decline to US$210 per oz including royalties. |
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