THE CHIMU GOLD PLANT
Ozinca Peru SAC (a 100% owned subsidiary of Oar Resources) has acquired the Chimu Gold plant in Southern Peru.
The Chimu Gold plant is a gold lixiviation plant that is strategically located to purchase high grade gold ore from a significant number of existing small gold miners in the Ayacucho and Chala region of Southern Peru.
The last ten years of continuously increasing gold price has resulted in a boom of small mining activity focused on the extraction of the abundant narrow, high grade veins found in this region of Peru.
As a result of the increase of this particular class of ore production, Oar will toll process the ore supplied to its Chimu plant with a Carbon in Pulp (CIP) process, this carbon will then be transported to Lima for final Gold processing and the gold bullion will be sold to overseas buyers.
In addition, the company plans to develop its own mining operation relatively close to the plant to provide a constant source of ore which over time should completely remove the need to purchase ore.
Oar will also identify and further develop Gold plants in other Gold districts of Peru.
The company has the vision to become one of the top ten producers and exporters of gold in Peru by 2020 through development and operation of small high-grade underground mines to supply ore to its efficient state of the art gold processing plant in the gold districts of Peru.
The Company continues to assess the importance and scope of other opportunities that continue to be presented to Management, and we are confident that a significant project will be added to our portfolio in the not too distant future.
The Chimu plant can be accessed by driving 620km south of Lima on the Panamerican Highway to the coastal town of Chala.
Travel 38km east up the Tocota Valley on a gravel road to the town of Relave.
The plant is located 1.8km further up the valley from the town.
The Chala area is surrounded by thousands of Mining producers, with high concentrations in the areas of Mollehuaca and the Relave communities.