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Greenfield Exploration

Our strategy with regards to our greenfield exploration programme is to maintain and drill a balanced portfolio of early-stage to advanced opportunities. We’ll do this with a combination of earn-in joint ventures, private placements with junior exploration companies and the staking of properties.

Exploration targets

  • Precious metals focused
  • Epithermal veins and larger mineralisation styles

 

Project generation

  • Data driven
  • Past producers and districts with >1 moz Au potential
  • Data rich/high risk projects with >5 moz Au potential
  • Increasing project reviews but with quality more important than quantity
  • Optimal permit jurisdictions – Peru, Chile, North America

 

Execution

  • Projects secured from third parties
  • Maximising investment in ground via low overheads
  • Maximising use of reverse circulation drilling
  • Choose the best junior explorers

 

Portfolio diversification

  • Different deposit styles
  • Different levels of advancement
  • Different geographies to diversify risk of changing regulations

 

2019 Progress

Corina

At Corina, drilling in the third quarter of the year confirmed promising mineralisation within two sub-parallel structures, Corina and Micky. Drill results are included below and do not necessarily represent true widths.

Drillhole

From (m)

To (m)

Width (m)

g/t Au

g/t Ag

COR19001

201.55

204.75

3.20

1.13

24.00

including

203.40

204.75

1.35

1.80

31.00

COR19001

218.80

228.20

9.40

0.43

7.11

COR19002

253.15

254.45

1.30

0.43

4.40

COR19002

330.20

348.50

18.30

0.26

1.35

COR19003

142.85

146.85

4.00

0.28

1.57

219.80

221.00

1.20

0.46

67.40

COR19004

152.00

156.85

4.85

0.07

0.78

265.00

266.35

1.35

0.61

9.00

COR19005

91.10

94.60

3.50

8.97

32.00

including

92.10

93.65

1.55

15.90

47.00

COR19005

117.90

122.90

5.00

0.60

4.99

COR19005

160.80

162.80

2.00

1.18

2.90

COR19006

209.60

211.10

1.50

1.71

7.65

including

210.70

211.10

0.40

2.89

7.90

COR19006

284.85

287.10

2.25

0.27

0.87

COR19007

126.40

142.10

15.70

4.56

53.69

including

132.30

135.00

2.70

15.94

207.20

and

132.30

133.70

1.40

19.55

290.00

COR19007

184.60

189.20

4.60

1.10

27.64

COR19007

200.75

201.75

1.00

1.32

14.50

COR19008

209.40

211.00

1.60

0.52

2.05

COR19008

220.80

223.00

2.20

3.20

25.66

including

220.80

221.80

1.00

5.73

51.00

COR19009

144.80

149.00

4.20

0.82

6.71

COR19009

152.50

157.60

5.10

1.05

14.19

including

156.50

157.00

0.50

2.63

53.70

COR19009

160.40

165.40

5.00

1.08

6.98

including

164.50

165.40

0.90

1.86

2.40

COR19010

189.10

202.60

13.50

6.15

31.10

including

195.10

198.10

3.00

16.08

82.60

COR19010

206.90

210.60

3.70

7.66

17.66

including

207.90

208.90

1.00

17.35

126.00

COR19010

222.65

230.30

7.65

4.08

37.39

including

222.65

228.40

5.75

4.95

45.85

including

224.45

224.95

0.50

8.14

77.60

Hochschild has the option to purchase the Corina Project from Lara Resources by making staged cash payments totalling $4 million of which $0.3 million has been paid to date, with the next instalment of $0.4 million due by July 2020. The Company must also carry out $2.0 million in exploration expenditures, which has been almost fulfilled by the most recent programme, and pay a 2% net smelter return royalty on any future production. The project has now been transferred to Hochschild’s brownfield exploration team and a new drilling campaign will begin in 2020 to define inferred resources.

Snip

Hochschild has the right to enter into an option to earn a 60% undivided interest in Skeena Resources' Snip gold project located in the Golden Triangle of British Columbia by spending twice the amount Skeena has spent since it originally optioned Snip from Barrick.

The 2019 Phase I drilling programme was designed to validate an isolated, historical and incompletely sampled high-grade intersection in the 200 Footwall Corridor. The original target in the 200 Footwall was identified by 1997 underground drill hole UG-2610 which intersected 26.8 g/t Au over 3.4m in an incompletely sampled zone. The recent intercept in drill hole S19-044 has discovered a new occurrence of very high-grade mineralisation averaging 1,132 g/t Au over 1.5m, including a significant subinterval containing abundant visible gold grading 3,390 g/t Au over 0.5m. Additional intercepts reported include:

Target

Results

Snip

S19-035: 5.1m @ 16.6g/t Au

Including 0.5m@ 96.2g/t Au and 0.9m @ 39.8g/t Au

S19-041: 0.7m @ 57.9g/t Au

S19-041: 0.5m @ 57.0g/t Au

S19-043: 1.4m @ 12.0g/t Au

Phase I drill hole S19-043 was completed prior to the newly discovered mineralisation in drill hole S19-044 and intersected anomalous gold grades associated with sheared veining including 12.0 g/t Au over 1.4m. Recently completed modelling of the 200 Footwall mineralisation indicates that this drill hole did not extend deep enough to adequately test the 200 Footwall and will be deepened during the next phase of drilling.

Other projects

In 2020, the team and its joint venture/strategic alliance partners are planning to drill properties across the Americas in Peru and the United States. This includes: the Cooke Mountain gold project owned by Adamera Minerals Corp in Washington State, United States; the Horsethief project owned by Allianza Minerals Ltd, also in Nevada; and the Condor project in Peru.