The Montemor-o-Novo exploration concession (“Montemor” or the “Concession”) covers approximately 728.22 km2 is located approximately 95 km east of Lisbon, the capital city, near the towns of Montemor-o-Novo and Évora, in the Alentejo region of southern Portugal. The property completely surrounds the Company’s 100% owned Boa Fé Experimental Mining License.
On November 2nd, 2011, the Company entered into a prospecting and exploration license agreement with the Government of Portugal whereby the Company has been granted the exclusive right to prospect and explore for base, precious and strategic metals on the property, which completely surrounds the Boa Fé Experimental Mining License.
Focus was given to sections of two prospective shear corridors that parallel the Boa Fé shear zone. The shear corridors comprise of the Monfurado Cambrian belt (felsic metavolcanics, calcsilicate and carbonate rocks, amphibolites) and the Mourel Proterozoic black graphitic schist belt.