Assay Results

Phase 2 Drilling

The following table summarizes the most significant drill assay results (uncut, undiluted) for the Babicanora Vein only;

Hole No. From
(m)
To
(m)
Drilled
Thickness
(m)
Est. True
Thickness
(m)
Au gpt Ag gpt AgEq* gpt
UB17-01 33.5 40.9 7.4 4.5 1.30 343.0 440
 Includes 33.5 34.4 0.9 0.5 7.99 805.0 1,404 
Includes 39.9 40.9 1.0 0.6 0.62 1,230.0 1,277
UB17-01a 17.9 20.9 3.0 2.0 0.08 450.3 456
Includes 18.9 19.9 1.0 0.7 0.05 754.0 757
  20.9 28.1 7.2 4.8 0.05 41.5 45
UB17-03 23.0 29.9 6.9 2.8 3.29 447.2 694
includes  26.8 29.9 3.1 1.3 7.06 719.0 1,249
  29.9 150.1 120.2 49.0 0.07 17.6 23
Includes 29.9 68.2 38.3 15.5 0.06 32.8  38
UB17-04 9.1 15.6 6.5 5.0 3.91 182.5 476
includes 10.8 13.8 3.0 2.3 7.06 133.0 662
  15.6 50.5 34.9 27.0 0.09 23.4 30
UB17-05 7.7 14.5 6.8 6.1 4.84 383.0 746
includes 8.7 10.7 2.0 1.8 13.68 1,149.7 2,176
includes 10.0 10.7 0.7 0.6 4.63 2,560.0 2,907
  14.5 28.3 13.8 12.5 0.24 22.8 41

   Note: all numbers are rounded.
   *AgEq based on 75 (Ag):1 (Au) and 100% metallurgical recovery.

All assays were completed by ALS Chemex in Hermosillo, Mexico, and North Vancouver, BC.

Phase 1 Drilling

The following table summarizes the most significant drill assay results (uncut, undiluted) for the Las Chispas vein only; September 14, 2016

Hole No. Location From (m) To (m) True
Thickness**
Au gpt Ag gpt AgEq
gpt *
LC-16-17 Las Chispas Vein 81.0 82.0 1.0 2.27 306.0 476.2
LC-16-18 Las Chispas Vein 80.0 81.0 1.0 1.55 706.0 822.2
LC-16-19 Las Chispas Vein 167.0 168.0 1.0 1.07 143.0 223.3
               
LC-16-18 Adjacent Footwall Vein*** 118.0 119.0 1.0 0.92 113.0 182.0
LC-16-19 Adjacent Footwall Vein 186.0 189.0 3.0 0.30 68.1 91.1

   Note: all numbers are rounded.
   *AgEq based on 75 (Ag):1 (Au) and 100% metallurgical recovery.
   ** All holes were drilled at perpendicular angles to mineralization with no adjustments required.  Minimum sample width is 1.0 m.
   *** Intercept is for a new consistent vein in the footwall of Las Chispas Vein as previous drilled and defined.

The following table summarizes the most significant drill assay results (uncut) for the William Tell vein and the previously unidentified veins; September 7, 2016

William Tell Drill Hole Intercepts within Potentially High Grade Corridor > 150 gpt AgEq
Hole No. From (m) To (m) Drilled Thickness (m) Est. True Thickness (m)**  Au gpt Ag gpt AgEq* gpt 
LC16-03 172 176 4 1.5 2.03 683 835
includes 173 175 2 0.8 3.81 1,102 1,388
LC16-12 118 119 1 0.9 2.40 229 409
LC16-13 168 172 4 3.2 1.08 141 222
includes 168 169 1 0.8 3.58 249 517
Includes 171 172 1 0.8 0.23 249 266
LC16-15 197.5 199 1.5 1.3 1.94 352 497
New Identified Vein Intercepts adjacent to the William Tell Vein
LC16-13 180 181 1 0.8 4.79 364 723
LC16-16 93 94 1 0.9 6.57 395 888
William Tell Drill Hole Intercepts < 150 gpt AgEq
LC16-02 94 95 1 0.5 0.97 20 94
LC16-04 201 205 4 1.7 0.04 69 72
LC16-16 270 272 2 1.8 0.01 39 40

Note: all numbers are rounded.
*AgEq based on 75 (Ag):1 (Au) and 100% metallurgical recovery.
** All holes were drilled at angles to mineralization; true thickness is estimated based on geometry of the vein model.

The following table summarizes the most significant drill assay results (uncut, undiluted) for the Las Chispas vein only; August 2, 2016


Hole No.
From
(m)
To (m) Drilled
Thickness
(m)
Est. True
Thickness
(m)**
Au gpt Ag gpt AgEq* gpt
LC16-05 149.0 150.0 1.0 0.9 2.10          226.0          383.5
  167.0 172.0 5.0 4.6 4.56          621.5          963.2
includes 171.0 172.0 1.0 0.8 18.55      2,460.0      3,851.3
LC16-06 66.0 67.0 1.0 0.7 14.90      1,815.0      2,932.5
LC16-07 144.0 145.0 1.0 0.7 1.73          164.0          293.8
LC16-08 143.0 145.0 2.0 1.4 1.58          163.5          282.5
  171.0 182.0 11.0 7.2 2.41          311.5          492.5
includes 171.0 176.0 5.0 3.3 2.25          276.3          444.8
includes 181.0 182.0 1.0 0.7 14.40      1,900.0      2,980.0
LC16-11 95.0 96.0 1.0 0.9 1.32          198.0          297.0
  108.0 110.0 2.0 1.6 1.30          152.6          251.8

Note: all numbers are rounded.
*AgEq based on 75 (Ag):1 (Au) and 100% metallurgical recovery.
** All holes were drilled at apparent angles to mineralization and adjusted for true thickness. Las Chispas Main Vein in bold. 
*** Drill hole grade intercepts range from 1.3 gpt Au and 152.6 gpt Ag to 18.55 gpt Au and 2,460 gpt Ag with a weighted average grade of 3.52 gpt Au and 454.8 gpt Ag.

All assays were completed by ALS Chemex in Hermosillo, Mexico, and North Vancouver, BC.

Underground Channel Sampling

The following table summarizes the 14 most significant un-composited assay results (uncut, undiluted) from the Las Chispas Vein 550 level:

Las Chispas
550 Level**
Sample Type
Sample
Width
(m)***
Au
(gpt)
Ag
(gpt)
AgEq*
(gpt)
Chip/Channel 1.0 4.48 698 1,034
Chip/Channel 1.5 1.83 264 401
Chip/Channel 0.8 3.77 543 826
Chip/Channel 0.9 0.76 310 367
Chip/Channel 0.9 1.69 269 396
Chip/Channel 0.7 1.82 278 415
Chip/Channel 0.6 1.72 334 463
Chip/Channel 0.6 13.35 1,720 2,721
Chip/Channel 0.9 8.73 1,255 1,910
Chip/Channel 0.8 11.45 1,435 2,294
Chip/Channel 1.1 7.75 1,215 1,796
Chip/Channel 1.0 4.39 582 911
Chip/Channel  0.8 5.60 776 1,196
Chip/Channel  0.5 3.62 503 775

   Note: all numbers are rounded.
   *AgEq based on 75 Ag : 1 Au and 100% metallurgical recovery.
   ** Level number is based on historical mine level in feet (not metres) from surface collar of historic shaft.
   *** The underground sample width of mineralization may not be indicative of the true width of mineralization. Sampling widths are constrained by access to open faces. Ongoing and planned drilling may suggest wider mineralized zones.

All assays were completed by ALS Chemex in Hermosillo, Mexico, and North Vancouver, BC.

El Sheik Historic workings Varela Main Vein only


Mineralized Area
Sample
Type
Width**
(m)
Au
(gpt)
Ag
(gpt)
AgEq*
(gpt)
Level 1 Chip/Channel 0.63 7.14 129.0 664.5
Level 2 shaft Chip/Channel 0.32 12.45 499.0 1,432.7
Level 3 Chip/Channel 0.42 9.20 94.2 784.2
Level 4 Chip/Channel 0.30 9.58 211.0 929.5
Level 4 Chip/Channel 0.36 8.88 203.0 869.0
Level 4 Chip/Channel 1.60 8.56 307.2 949.4
Including Chip/Channel 0.30 40.90 610.0 3,677.5
Level 4 North Vein Chip/Channel 0.97 4.64 1,074.1 1,422.3
Including Chip/Channel 0.64 0.23 1,450.0 1,467.3
Including Chip/Channel 0.33 13.20 345.0 1,335.0
Level 4 North Vein Chip/Channel 0.46 9.15 274.0 960.2
Level 4 North Vein Chip/Channel 1.31 8.62 556.7 1,203.4
including Chip/Channel 0.89 9.45 692.0 1,400.7
including Chip/Channel 0.42 6.87 270.0 785.2
Level 4 North Vein Chip/Channel 0.37 20.80 929.0 2,489.0
Level 4 North Vein Chip/Channel 0.36 8.78 135.0 793.5
Level 4 North Vein Chip/Channel 0.29 3.81 699.0 984.7
Level 4 North Vein Chip/Channel 0.54 6.11 398.0 856.3
Level 4 North Vein Chip/Channel 0.61 18.25 947.0 2,315.8
Level 4 North Vein Chip/Channel 1.27 5.81 235.9 671.9
including Chip/Channel 0.46 15.00 419.0 1,544.0
Level 4 South Vein Chip/Channel 0.38 17.65 359.0 1,682.7
Level 4 South Vein Chip/Channel 0.97 4.64 1,074.1 1,422.3

Note: all numbers are rounded.
*AgEq based on 75(Ag):1(Au) and 100% metallurgical recovery.
** The underground sample width of mineralization may not be indicative of the true width of mineralization. Sampling widths are constrained by access to open faces. Drilling may suggest wider mineralized zones.

William Tell Vein

William Tell 450 & 650 Level Channel Sampling >500gpt AgEq
Mineralized Area Sample
Type
Width*** (m) Au (gpt) Ag (gpt) AgEq* (gpt)
William Tell South 650 level Channel 0.94 1.78 477 610
Channel 0.68 7.41 1,109 1,664
Includes 0.37 13.40 1,560 2,565
Includes 0.31 0.26 571 590
Channel 0.98 1.20 969 1,059
Channel 0.93 10.85 1,895 2,708
Channel 1.12 9.47 1,910 2,620
Channel 0.55 4.27 686 1,006
Channel 0.55 32.50 1,665 4,102
Channel 0.33 23.60 2,730 4,500
Channel 2.25 1.93 672 816
Includes 0.20 16.65 1,570 2,818
Includes 1.10 0.75 1,000 1,056
Channel 0.40 8.64 576 1,224
Channel 1.30 5.13 307 692
Includes 0.30 17.45 1,100 2,409
William Tell North 450 Level Channel 1.50 0.16 2,170 2,182
Channel 4.20 14.15 225 1,286
Channel 3.00 6.62 88 584
Channel 2.00 14.25 293 1,362
Note: all numbers are rounded.
*AgEq based on 75(Ag):1(Au) and 100% metallurgical recovery.
** Level number is based on historical mine level in feet (not metres) from surface collar of historic shaft.
*** The underground sample width of mineralization may not be indicative of the true width of mineralization. Sampling widths are constrained by access to open faces. Ongoing and planned drilling may suggest wider mineralized zones.

All assays were completed by ALS Chemex in Hermosillo, Mexico, and North Vancouver, BC.

Las Chispas Vein

Mineralized
Area
Sample
Type
Width***
(m)
Au (gpt) Ag (gpt) AgEq* (gpt)
300 Level ** Channel 0.6 7.99 867.0 1,466.3
  Channel 0.4 6.50 1,080.0 1,567.5
  Channel 0.3 11.25 1,140.0 1,983.8
  Channel 2.2 1.09 1,260.0 1,341.8
  Channel 2.2 0.05 1,340.0 1,343.8
  Channel 1.1 2.93 1,270.0 1,489.8
  Channel 0.7 3.71 780.0 1,058.3
  Channel 0.5 5.85 874.0 1,312.8
  Channel 1.0 6.52 797.0 1,286.0
  Channel 1.2 8.43 975.0 1,607.3
330 Level Channel 1.4 7.04 1,140.0 1,668.0
  Channel 1.2 1.94 1,380.0 1,525.5
  Channel 1.1 6.35 688.0 1,164.3
  Channel 0.8 10.55 1,440.0 2,231.3
400 Level Channel 2.0 2.43 484.0 667.0
  Channel 2.0 4.28 544.9 865.9
  Channel 1.6 6.53 896.0 1,385.8
  Channel 0.6 8.97 1,090.0 1,762.8
600 Level Channel 1.4 2.65 541.0 739.8
  Channel 0.7 2.89 476.0 692.8
Note: all numbers are rounded.
*AgEq based on 75:1 Au:Ag and 100% metallurgical recovery.
** Level number is based on historical mine level in feet (not metres) from surface collar of historic shaft.
*** The underground sample width of mineralization may not be indicative of the true width of mineralization. Sampling widths are constrained by access to open faces. Ongoing and planned drilling may suggest wider mineralized zones.

Most significant assays are as follows:


Mineralized Zone
Sample
Type
True
Width (m)
Au gpt Ag gpt AgEq gpt*
William Tell North – 220 Level** Channel 0.7 7.8 1,160.0 1,742.0
  Channel 1.4 3.1 207.0 436.5
  Channel 0.9 5.2 385.0 776.5
  Channel 0.7 11.1 222.0 1,058.2
  Channel 1.2 8.4 94.9 722.6
  Channel 0.5 10.5 114.0 901.5
  Channel 0.2 6.7 117.0 622.5
  Channel 0.5 1.9 421.0 562.7
  Channel 0.6 4.4 423.0 753.7
William Tell South – 600 Level  Channel 0.6 1.4 262.0 368.5
  Channel 1.8 3.4 245.0 501.5
  Channel 0.8 2.2 372.0 539.2
Las Chispas - 400 Level Channel 0.7 2.4 304.0 484.7
  Channel 1.7 0.8 117.0 177.7
  Channel 0.5 2.2 333.0 498.7
  Channel 2.0 2.1 462.0 616.5
  Channel 1.1 0.9 119.0 185.0
U/G backfill sampling Grab n/a 1.3 252.3 349.8
*AgEq based on 75:1 Au:Ag; all numbers are rounded
** Level number is based on historical mine level in feet (not metres) from collar of historic shaft

Las Chispas – William Tell Vein – Sampling Results

Sample Type True Width (m) Au gpt Ag gpt AgEq gpt*
Channel 0.9 24.5 780.0 2,617.5
Channel 0.5 2.0 193.0 341.9
Channel 0.9 2.4 126.0 304.5
Channel 1.1 7.5 116.0 678.5
Channel 0.6 0.1 356.0 361.3
Channel 0.7 6.0 419.0 869.8
Channel 0.7 2.2 188.0 350.0
Channel 1.1 7.4 284.0 842.0
Channel 0.8 3.7 160.0 433.8
Channel 1.2 1.8 225.0 359.3
Channel 0.5 2.5 453.9 640.5
Channel 1.2 0.7 267.0 316.6
Channel 1.2 1.3 327.0 421.9
Channel 0.6 8.5 345.0 984.8
Channel 1.6 1.5 441.0 553.1
Channel 1.2 5.8 84.0 517.5
Channel 0.8 7.9 560.0 1,150.3
*AgEq based on 75:1 Au:Ag
 

Las Chispas - Initial Underground Sampling Results

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