The Pucarini Property consists of a single 1,000 ha (GBT-92) claim centred at 70º 30’ 51” W; 15º 55’ 56” S. The concession was acquired by Globetrotters Resources Peru SAC (“Globetrotters”) in 2018 and is currently held by Cordillera Resources SAC, a 99.99% owned subsidiary of Forte.
The Property is an early-stage high-sulfidation gold project located approximately 43 km west-northwest of the city of Juliaca in the Department of Puno, Peru. The property was mapped and sampled by Teck Resources Peru SAC in the period 2011-2015, and subsequently dropped without having been tested by drilling.
Regular scheduled commercial flight service is available from the Juliaca airport to Lima and other major airports throughout Peru. Access to the property is by unpaved, maintained public roads from Lampa, which is the closest town located 16 km to the east of the Property. Lampa is connected to Juliaca and Arequipa by the national highway network. Most of the population in the vicinity of the Property is involved with agriculture. Lampa is connected to the National electric grid.
Pucarini has a temperate climate with a wet season from October through March and a dry season from April to September. Temperature averages 6.2 (0.7-17.4 C) in the wet season and 8.8 (-4.4-15.8). Precipitation averages 88.0 mm during the wet season and 14.5 mm during the dry season. Snow is common August through November at higher elevations.
The General Mining Law of Peru defines and regulates different stages of mining activities ranging from sampling and prospecting, to development, mining, and processing. The General Mining Law of Peru was changed in the mid-1990’s to foster the development of the country’s mineral resources. The law further defines and regulates different categories of mining activities according to the stage of development (prospecting, exploitation, processing, and marketing).
The Peruvian State does not have free carry rights or options to acquire shareholdings in mining companies. There are no requirements for participation in ownership of mining rights by indigenous persons, groups or entities. Titles over mineral claims are controlled by the Institute of Geology, Mining and Metallurgy (“INGEMMET”). The current status of any mining right can be verified by accessing INGEMMET’s nationwide online concessions database at https://geocatmin.ingemmet.gob.pe/geocatmin/
Mining concessions in Peru are valid for both exploration and mining activities.
