AFFINITY GOLD CORPORATION (Ticker: AFYG) is a junior mining company focused on creating shareholder value through the acquisition and development of near-term production opportunities within Peru.
•Currently, the Company is involved in two high-grade precious mineral projects in Peru.
•The Company’s wholly-owned “Inambari River” project located in Carabaya, Puno, Peru is 500 hectares in size (approx. 1,235 acres) with previous technical studies performed in 2007, 2008 and 2009.
–The last technical report was produced in 2009 by Eng. Robert W. Laakso which estimated a total gold resource of around 2,092,132 ounces: Measured - 36,432oz.; Indicated - 235,900oz.; Inferred - 819,800oz.
–In late 2012, the Company entered into a Mineral Lease agreement for an additional 1800 hectares of mineral rights located immediately to the south of its wholly-owned 500 hectares.
The Company is currently renegotiating the terms of the lease with the owners.
•The Company’s second project called “Machacala” is a gold & silver low sulphidation epithermal deposit with past production history located in La Libertad, Peru.
–The project has substantial historical data showing a total of 13 identified veins and over 210,000 metric tons of tailings.
–The 210,000 metric tons of tailings contain economically viable grades of gold & silver representing an estimated $20M USD gross revenue.
–The hardrock underground potential for Machacala is estimated between $2-$3bln USD
–Machacala can begin producing from its 210,000 metric tons of tailings almost immediately