Prepared by: Seymour M. Sears, B.A., B.Sc., P.Geo.
International Geological Consultants
840 Hillsdale Crescent, Sudbury, Ontario, Canada P3E 3S9
APGO Certificate of Authorization No. 90150
Sears, Barry & Associates has been retained by Morocota Gold SAS (Morocota) to provide an update to an April 2017 report on the Gomez Plata Project (Project). This report is designed to provide an independent opinion on the economic viability of the mining and processing of the known gold bearing veins within the Project and to suggest a strategy to advance the exploration and/or development of the Project.}
The Gomez Plata Project is a very promising project of merit. It is located in the center of a developing gold camp with three deposits at the advanced exploration, development and/or production stage. Morocota’s 2017 reconnaissance scale work program has documented scores of historical artisanal scale mine workings and extensive placer operations within the Project area and outlined extensive areas of anomalous gold and related metals in the local drainage system. Follow-up work programs are currently identifying significant gold bearing structures within the anomalous areas. In addition, the Project hosts numerous known Au-bearing structures in the immediate area of Morocota’s newly constructed 50 tpd gold mill and recovery plant, most of which have not been explored. There is a very strong community support for mining in this area which is most beneficial when bringing a property into production.
. The most promising targets are the Molinos and Cesgalete Veins, both of which can be readily developed for short term mining without major investment.
The gold bearing veins in the immediate area of the Morocota mill and gold recovery plant appear to be formed within narrow fault zones that are continuous over many hundreds of metres and display robust vertical continuity as steeply dipping structures. The mineralization however, is typically confined to very narrow quartz and sulphide rich zones that pinch and swell along strike and down dip. Thicknesses of gold bearing material range from a few centimetres to 0.5 metres in most areas with occasional lenses that exceed 1.0 metre. The exceptions are the Molinos Vein located in close proximity to the mine/mill area and the Cesgalete Vein, located less than 1 km to the north. The Molinos vein is developed within a fault zone that averages approximately 0.7 m in width. The Cesgalete Vein, where observed, ranges from 0.5 m to 3.0 m in width. The host structure at Cesgalete is a vein as well as a strongly silicified breccia zone
The Cesgaete Vein, where exposed in the underground workings, ranges from 0.7 – 3.0 metres in width and contains visible gold. Sampling and detailed mapping were in progress at the time of writing of this report.