Proactive investors

Peru

Tesoro Gold Project
St. Elias Mines owns a 100% interest in the Tesoro Gold Property located in Peru.  The Property covers approximately 1,700ha (4,250 acres) and is located in the Acari District within the prolific Nazca-Ocoño gold belt of southwestern Peru.  The Nazca-Ocoño gold belt is a 300km (200 mile) x 30km (20 mile) belt paralleling the Pacific coast of southwestern Peru.  Gold is associated with disseminated sulfides that seeped into quartz veins or rock fractures within the intrusive body.  The continuity of the quartz veins and fractures is very impressive in the Nazca-Ocoño belt since these veins are often hosted within fractures and shears that show continuity along several kilometers.  To date, more than 70 gold deposits have been exploited in this region since as early as the 17th century. [READ MORE]

Vilcoro Gold Project
St. Elias has an option to acquire a 95% interest in the Vilcoro Gold Property located in Santiago de Chuco area, northwest, Peru. The Vilcoro Gold Property comprises 1,600 hectares and lies along the same geological belt of Tertiary rocks that hosts many multi-million-ounce deposits in northern Peru such as Newmont’s Yanacocha Mine (+40 million oz gold) and Barrick’s Pierina deposit (8 million oz. gold).  The Property is favourably located adjacent to the claim block that covers the Lagunas Norte mine (+9 million oz gold) recently put into production by Barrick Gold in the Alto Chicama mining district of central Peru.

Access to the property is excellent with a well maintained gravel road connecting the region’s main town (Santiago de Chuco) with the Pan-American Highway.  Multiple secondary roads leading from Santiago de Chuco bisect the Vilcoro Gold Property. [READ MORE]

Cueva Blanca Project
St. Elias Mines owns a 100% interest in the Cueva Blanca Gold Project located in northern Peru.

The property was originally staked for its geological and physiographic similarities to the Yanacocha mining district.  Both the Cueva Blanca and Yanacocha are associated with elliptical basins or lowlands rimmed by high-elevation ridges and uplands.  These features, developed in Mid-Upper Tertiary volcanic rocks, are believed to be calderas.  Faults, both ring and radial, cut the basins and the mountainous rims and appear to control the occurrence of the gold ore-bodies at Yanacocha.  These faults also have pronounced topographic expressions and are marked in both locations by scarps and small lakes.  At Cueva Blanca, at lease one such lagoon overlies part of a strongly altered breccia zone at the base of a silicified volcanic neck. [READ MORE]

Portugal

Jales Gold Project
Previously St. Elias owned a 51% interest and Kernow Resources & Developments Ltd. (“Kernow”) owned a 49% interest in the Property.  It was recently agreed that Kernow purchase St. Elias’ 51% interest in the Property in consideration of   Kernow forgiving all the outstanding payments due to Kernow by St. Elias (approx. CDN$61,200); a $50,000 cash payment; 1,000,000 common shares of Kernow; and upon receipt of a Full Mining License from the Portuguese Authorities, a further 2,000,000 shares and a further $100,000 cash payment.  In addition, St. Elias will retain a 0.40% NSR on the Property. [READ MORE]

Canada

Carmi Moly Project
Hi Ho Silver Resources Inc. (“Hi Ho”) earned an initial 51% interest in the Kettle River (Carmi) Moly Property from St. Elias by paying $75,000, issuing 500,000 common shares of Hi Ho to St. Elias and incurring exploration expenditures of $2,000,000 on the Property.  St. Elias recently agreed to sell the remaining 49% interest in the Property to Hi Ho in consideration of $750,000 and 3,500,000 common shares of Hi Ho.  St. Elias retains a 1.5% net smelter return royalty (“NSR”) from all proceeds received from commercial production.  In addition, St. Elias agreed to grant Hi Ho an option to purchase 1,750,000 of these shares at $1.00 per share and Hi Ho agreed that in the event it sells the Property (or an interest in the Property) in the future, St. Elias will receive a portion of the proceeds which Hi Ho realizes from the sale of the Property or an interest therein. [READ MORE]
South Rim Project
St. Elias owns a 100% interest in the South Rim Project, B.C. The Project covers 81 square km. and lies within a mineral-rich region of central British Columbia, located approximately 130 kilometres south of Houston, B.C. and located on the south rim of a 20km x 40km caldera (volcano crater).

Numerous large scale mines/deposits occur in the region including Blue Pearl’s Davidson Mo Deposit is 145km to the north and their Endako Mine (30,000tpd Cu/Mo) is 150km to the northeast. The Berg Cu/Mo Deposit (238 million tonnes 0.4%Cu, 0.052%MoS2 & 2.8g.t Ag) is 40km to the north. Imperial Metals - Huckleberry Mine (20,000tpd Cu/Mo) is 27km north northeast.  There are two targets within Project – Molybdenum and Gold. Grades from 0.070% MoS2 to 2.12% MoS2 occur in moraine material which was traced for over 2,000 feet. Epithermal Gold occurs within quartz vein at 12 separate zones and gold values range from trace to 24.0g/t across 1 metre. [READ MORE]

Beaverdell Project
St. Elias owns a 100% interest in the Beaverdell Gold/Silver Property located in south-central British Columbia. The Property comprises 42 mineral claims covering approximately 32,250 acres and is located in the Greenwood Mining Division of British Columbia in the immediate vicinity of Beaverdell, British Columbia.  Access is excellent with Beaverdell lying on a major highway and a network of secondary and logging roads and trails accessing most of the showings on the Property. [READ MORE]