PINOS GOLD DISTRICT, ZACATECAS, MEXICO
Catanava is a Joint Venture 49% held by Excalibur which is providing the financing and 51% held by Minera Apolo S.A. de C.V. which is providing the property, mining asset and the management of the project.
The purpose of the JV is to build a gold operation with initial production from a 250 tonne per day plant on the 143 hectare Catanava property, located in the Municipality of Pinos, in the State of Zacatecas, Mexico.
The goal is to commence 250 tpd plant for gold and silver production in 2012 to generate annual production up to 20,000 ounces Au.
The Catanava project is in the Pinos Gold District, in the State of Zacetecas, Mexico which was discovered by the Spanish in 1546 and mined until the Revolution in 1810, by Cornish miners from 1870 to 1911, producing around 5+ million ounces of Gold and over 25 million ounces of Silver until water table 100m, and most recent by an individual miner from 1935 to 1941. Recent exploration work was undertaken through a Penoles/Bethlehem Steel JV from 1975 to 1983, All-North Resources in 1993-4, Hecla Mining Company 1995-7, and by Romarco Minerals from 2006-7.
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