Levon Resources is exploring one of the world's largest silver resources at the company's 100%-owned Cordero Project in northwest Mexico. In less than four years, Levon has amassed a resource at Cordero containing 364M oz silver indicated plus 91M oz silver inferred. Further indicated resources of 945,000 oz gold, 6.1B lbs zinc and 3.3B lbs lead have established Cordero as one of Mexico's premier polymetallic porphyry targets.
Resource tonnage and grade details are available in the Technical Report: Cordero Project, June 2012 Mineral Resource Update.
The Cordero resource remains open to expansion in nearly all directions with at least six additional large-scale targets located within the property's 20,000 hectares (49,400 acres). A Preliminary Economic Assessment is available for viewing here.*
Levon is well funded for continued organic growth at Cordero and potential asset acquisitions.
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* A Preliminary Economic Assessment should not be considered to be a prefeasibility or feasibility study, as the economics and technical viability of the Project have not been demonstrated at this time. The preliminary economic assessment is preliminary in nature and includes inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves. Furthermore, there is no certainty that the preliminary economic assessment will be realized. Mineral resources that are not mineral reserves do not have demonstrated economic viability.
The Technical Report: Cordero Project, Preliminary Economic Assessment was authored and approved by Herbert E. Welhener, MMSA-QPM, SME Registered Member #3434330RM who is the Qualified Person for purposes of this Preliminary Economic Assessment and the associated updated resource calculation.
The following risk issues have been identified for the Cordero project:
1) A mining claim with uncharacterized mineral potential is present in the central portion of the resource. Acquiring an agreement with the owners of this claim would help clarify the mineral potential in this portion of the resource and remove this complication in exploration and exploitation of the resource.
2) Cordero as currently understood is a low grade, bulk tonnage deposit which will need favorable metal recoveries, metal prices and low operating costs to be developed.