- Sarape is 57 square kilometres. Held 100% by Advance Lithium with Orogen Royalties owning a 1.5% royalty.
- Located in close proximity to SilverCrest’s Las Chispas Mine and First Majestic’s Ermitano Mine. Orogen Royalties was an early mover into the region, they optioned Ermitano to First Majestic and hold a 2% royalty. Orogen Royalties acquired Sarape for its similar geological characteristics to Ermitano.
- Las Chispas, Ermitano and Sarape are all in the same geological setting, in the same structural corridor and are all epithermal vein projects.
- Las Chispas and Ermitano are high-grade gold and silver mines, with low costs of production and generate remarkable free cash flow.
- Sarape has two key epithermal veins, the Sarape vein is over 5000 metres and Chiltepan is over 2000 metres, both are under explored with widespread gold, silver and antimony from surface samples taken where the veins outcrop.
- Sarape and Chiltepan veins both have several epithermal vein outcrops that remain to be drilled to explore for boiling zones. Past work suggest drilling and vein outcrops are above boiling zones and remain open for drilling along strike and at depth.
- Epithermal veins are often found in clusters, therefore the Sarape project is open for exploration to find additional near surface and blind veins. Both Las Chispas and Ermitano have many epithermal veins in their respective clusters.
Paying special attention to clasts of a tectonic breccia in hole SAR21-12, fine bands of sulphide, and fine grains of visible gold. We believe clasts have been transported upward, and therefore provide clues about occurrences of blind gold-silver mineralization at depth. XRF returned high grades of Au and Ag on some clasts of the tan quartz. Not in primary quartz vein, likely too high in the epithermal vein system.