MÓNICA

"Monica" mining property (Title number 227249) is a site containing hematite with more than 62% of iron. The mine is not explored yet, but on the surface you can see an outcrop with about 1000 metrics tonnes of mineral (as you can see in the enclosed pictures). The mine is located in Northwestern , Mexico, 50 miles north of Mazatlan harbor and 19 miles from a railroad station (Estacion Dimas). It has an area of 96 hectares (about 230 acres). The site is accessible by car driving only 7 miles over unpaved road.

Its UTM coordinates are: X(E) = 340879.354; Y(N) = 2646949.915, Zone 13

Geographic coordinates are: 23° 55´ 39.714" North ; 106° 33´ 48.268" West

At the end of last year, a chinese company visited the mine site, they took some samples which were analysed by them in China and they told us that the iron content in the samples was greater than 63% and the outcrop could be 200 per 400 meters in size. They told us that they were interested in the mine, but they wanted we make underground exploration works in order to estimate the volume of the ore reserves, before we can have some kind of deal. We told them that we had not economic resources to make such kind of works, so they did not come back.