- GNG has 8 properties which cover the heart of the Ureuachic mining district in Chihuahua State, Mexico, which has a production history dating back to 1700’s and 1800’s.
- GNG’s claims are owned 100% with no payments to make.
- One of GNG’s largest properties (Nopalera) lies directly adjacent to an exciting new discovery by industry giant Fresnillo PLC called Orisyvo, which already has a resource of 9.8 million ounces of gold and 13 million ounces of silver. GNG’s property has similar geology and alteration and has yet to be diamond drilled. The discovery has also focused the attention of the mining community to the district as many believe that Orisyvo will end up being the largest gold mine in Mexico.
- In July 2015, GNG signed a Letter of Intent with Fresnillo PLC outlining the terms for Fresnillo to option several of GNG’s properties in the district. The terms include cash payments totaling $3 million and assumption of all assessment and tax liabilities, which benefits the Company in the current market by reducing costs and providing cash, while still maintaining an interest in the properties
- GNG retains a 100% interest in its principle property in the district, San Timoteo, which has extensive old workings and has current drill targets. The future development of a mine and mill by Fresnillo at Orisyvo could have significant impact on the development of San Timoteo.