Carmona gold-silver project, Coquimbo Region, Chile

Why Carmona is the cornerstone

Carmona is the largest of the two Central Belt properties and the one with the widest footprint of alteration. Three extensive gold-silver bearing, porphyry-related high-sulphidation epithermal systems cover an estimated 18 km² of surface expression. The property encompasses an old pre-Columbian gold mining camp, evidence that mineralization has been known and worked here for centuries, and its geological and mineral features are similar to those at the nearby operating Carmen de Andacollo mines.

Because it sits in the same regional structural corridor as Las Garillas, about seven kilometres by road, the Company treats the two as one district. Results at Oro Brillante inform targeting at Carmona, and the road, camp and contractor base serve both.

Mineralization and sampling

Historical exploration and small-scale mining identified high-grade precious-metal mineralization in vein-hosted systems. Mining on 1 to 2.5 metre veins reported 50 to 76 g/t gold and 780 to 1,153 g/t silver. Lithogeochemical sampling of veins and the surrounding alteration zones returned 1.0 to 29.5 g/t gold, 2 to 233 g/t silver and 0.55% to 6.8% copper over widths of approximately 1.5 to 15 metres.

These are historical and selective results. They show that the system carries high-grade gold and silver at surface; they do not define a resource. That is the job of the Phase One program.

Phase One exploration and drilling

The July 2026 private placement was raised to fund a Phase One exploration and drilling program at Carmona. Field work is expected to begin once the Phase Three program at Oro Brillante is complete. Through the two programs the Company aims to systematically evaluate and better define the gold mineralizing systems across the district.

Statements about planned programs, timing, budgets and geological potential are forward-looking and subject to permits, financing, contractor availability and results. See the disclaimer.