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Megastar Development Corp.
Summary
| Project: | Rama De Oro | |
|---|---|---|
| Deposit: | Rama De Oro | |
| Location: | Mexico | |
| Commodities: | Gold-Silver | |
| Date: | 11/13/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Supporting Acquisition | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 13-11-2018: Megastar Development Corp. announces a Supporting Acquisition report for its Rama De Oro deposit at the Rama De Oro project. Summary of property in support of option agreement. At the request of Megastar Development Corp. (Megastar), Stephen R | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Stephen Maynard (Independent) | |
| ABSTRACT: | At the request of Megastar Development Corp. (Megastar), Stephen R. Maynard, M.S., C.P.G., has prepared this Technical Report on the Rama de Oro project, Santiago Matatlán Municipality, Oaxaca, Mexico in compliance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects (NI 43-101). The author visited the project on 9-11 October, 2017 in the company of David M. Jones of Minera Zalamera, S.A. de C.V. (Minera Zalamera). Data reviews were conducted in Oaxaca City, Oaxaca, Mexico, and in Albuquerque, NM, USA. Minera Zalamera has 100% ownership of the 2 contiguous mining concessions covering 1,940 hectares that constitute the Rama de Oro project. Megastar has entered into an option agreement with Minera Zalamera to acquire 100% of the Rama de Oro project for a cash payment of USD$35,000 and the issuance of 2,900,000 common shares of Megastar over a period of two years, and total work commitment of USD$350,000 over two years. Upon the exercise of the option by Megastar, Minera Zalamera shall retain a royalty of 2% net smelter return. The Rama de Oro Project lies to the northwest of and borders the La Calavera and Cobre Grande copper-gold porphyry-skarn projects in east-central Oaxaca. It also lies to the north of the WNW-ESE San José structural zone defined by Gold Resource Corporation (http://www.goldresourcecorp.com/exploration.php). Access to the Rama de Oro Project is by two-lane paved highway from Oaxaca followed by improved dirt roads from Santiago Matatlán to the western side of the project area. Numerous dirt farm roads and paths afford access to majority of the project area. Oaxaca City, Santiago Matatlán, and San Pablo Villa de Mitla are local sources of skilled workers, water, and power for the project. | |
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