Excerpts: A History of the Santa Cecilia Project
The owners of the Santa Cecilia claims have never doubted that the property has merit and paid the yearly claim costs for a total of thirty eight (38) years.
In 2009 they rejected a US$30,000,000 (plus a 3% NSR) option agreement with Exeter Resources who were drilling the adjacent Caspiche project.
Caspiche is located 450 meters from Santa Cecilia’s eastern claim boundary and is 1,300 meters from the eastern end of Santa Cecilia’s main gold MMI anomaly.
In 2010 Exeter’s drilling brought the Caspiche ore body into perspective and the Santa Cecilia owners decided to run a Mobile Metal Ion (MMI) geochemical survey and CSAMT geophysical lines over a large part of the property.
The decision by Santa Cecilia in 2010 to run a MMI sampling program at Santa Cecilia was taken after studying and plotting Newcrest’s 1998 MMI results over Caspiche property.
Newcrest’s MMI results for gold at Caspiche show very good correlation with the subsurface outline of the 42 million gold equivalent ounces resource later outlined by Exeter Resources’ extensive drilling.
Santa Cecilia’s gold MMI anomaly with a response ratio exceeding 15 is roughly 80 % larger than Newcrest’s Caspiche MMI gold anomaly with the same response ratio exceeding 15.
The results of this work vindicated the faith of the owners in their project and their decision to reject Exeter’s offer for the property!