The San Agustin royalty asset is located ~100 km north of Durango, Mexico and covers any sulfide ore produced from the land claims. At present, San Agustin is an open pit, heap leach gold mine operated by Argonaut Gold Inc. (TSX-V: AR; “Argonaut”) to supply ore to the company’s El Castillo Complex for processing. Commercial production from the oxide portion of the mineral deposit began in October 2017. San Agustin’s sulfide resource could potentially extend the operation’s mine life which is currently expected to end in 2025. Argonaut is aware that the sulfides may have economic potential, which it intends to evaluate in the future.
EMX has not done sufficient work to classify the resource as compliant with NI 43-101 regulation. However, EMX believes these results to be reliable and relevant. EMX acquired the royalty assets from SSR Mining Inc. in 2021 (see EMX Press Release dated July 29, 2021).
Note: The nearby mines and deposits mentioned above provide context for EMX’s Project, which occurs in a similar geologic setting, but this is not necessarily indicative that the project hosts similar tonnages or grades of mineralization