Mogollon has the potential to host several high grade silver and gold underground mines. The Property is located in New Mexico and is 70 miles northwest of Silver City and adjacent to the Arizona Border.
An initial program is proposed to complete several infield drilling core holes based around the nine discovery holes that John Livermore drilled at the Consolidated Mine which may confirm an exploration resource of 7,500,000 ounces silver and 150,000 ounces gold from 800,000 tons. The Consolidated Mine produced 300,000 tons before being shut down by the Second World War while still in ore.
The exploration resource would be sufficient to bring the Property to production and to subsequently explore other former producers including the last Chance East, Fanny East, Deep Down, Deadwood, and Cooney Mines over 6 miles as well as explore the remaining several miles of the Queen Vein epithermal system to the northeast.
Previous production of 2,074,000 tons from several mines produced 17,500,000 ounces silver and 305,000 ounces gold. Mining widths ranged from 6 to 30 feet, strike length of the Queen Vein system over 10 miles long and some 1,500 feet in depth.
The Company has an option to purchase a 100% working interest for $ 1,000,000 USD payable over 4 years with $ 300,000 paid to December 31,2016. There are no work commitments required and most claims are subject to a 2% royalty. Mogollon comprises 86 patented claims and 83 BLM claims that cover approximately 2,000 hectares.