Investment Opportunities Grupo de Bullet S.A. is interested in identifying a Global Gold Partner to enter into a strategic alliance to develop the companyâ€™s extensive gold portfolio in Colombia. Due to its more than 20 years of operating experience in Colombia, Bullet currently holds arguably the largest and most prospective gold portfolio in the country. This extends the length of the Andes Cordillera from the southern border with Ecuador, to the northern border with PanamĂĄ and from the alluvial plains of the Pacific coast to the Amazonian jungle bordering Brazil. The current portfolio is estimated to contain over two million hectares and is focused upon Colombiaâ€™s most prolific gold districts, which are estimated to have produced in excess of 80M oz Au during the past 500 years.
Investment Opportunities The company has a successful track record of identifying early stage prospects and over the past few years it has sold a number of key projects to multinational gold mining companies including La Colosa (Anglogold Ashanti), Gramalote (B2Gold), Buritica (Continental Gold) and Cisneros (Antioquia gold). Bullet now wishes to enter into a strategic partnership with a well funded private group to develop its extensive gold portfolio and realize value through the construction of mines and/or divestiture into public vehicles. Should a partner wish to develop all projects internally a global budget of some 190 million dollars over a three to four period is considered sufficient to explore and develop the most prospective properties up to and including some mine and process plant construction (5 mines producing up to a combined 2000 t/d). In return for making this investment Bullet is prepared to offer XX% of the company and any revenues generated. Initial evaluation studies have been completed to identify the most prospective areas likely to give the quickest return on investment. www.grupodebullet.com
Grupo de Bullet â€“ Big Picture Over 20 years exploration and mining experience in Colombia Privately held Principal strength of the company in precious metals Diversified minerals portfolio The Bullet Group of Companies: > Grupo de Bullet > Continental Gold > OtĂş Gold www.grupodebullet.com
Grupo de Bullet â€“ Ownership Structure Robert Allen 100%
Bullet Holding Corp.
Grupo de Bullet, S.A. (Col.)
Continental Gold 20%
OTU Gold www.grupodebullet.com
Projects Company Bullet* Continental* OtĂş Gold Total
Projects 60 7 1 68
Hectares +4.5 million 100,000 100,000 +4.7 million
*Bullet has 1 J.V. with B2 Gold and 1 J.V. with AngloGold Ashanti and Continental has 2 J.V.â€™s with AngloGold Ashanti
Grupo de Bullet â€“ Big Picture Strongest project development pipeline in Colombia Opportunities in all major mineral districts The Bullet Option with Continental: > Ensures a pipeline of quality projects to Continental > Five year option grand by Bullet to Continental in Sept. 2007 to be the first buyer and covers only metallic metals > Bullet maintains the rights to all non-metallic minerals > Continental maintains the Concessions in good standing > Continental only pays 25% of the final agreed value > All Bullet exploration fieldwork conducted to NI-43-101 standards
Bullet Precious Metals
Track record of exploration success (Gramalote, Buriticรก) Strong project pipeline with work completed on various projects Most promising mineral districts
Bullet Precious Metals
> Bullet Precious Metals Gold, Platinum, Silver
>Bullet Industrial Minerals Bauxite, Iron
> Bullet Base Metals Copper, Molybdenum, Zinc
>Bullet Construction Materials Sand, Gravel and Marble
>Bullet Fuel Minerals Thermal Coal
Bullet Precious Metals
Darien Project Au-Cu project straddling Panama border ≈ 140,000 Ha surrounding Anglo American’s Acandí porphyry Cu-(Au) project Minimum 6 geochemical / geological anomalies Outcrop samples up to 1.62 g/t Au and 0.56% Cu
Bullet Precious Metals
Central Cauca Project Central Cauca Project Au-Ag(-Zn) in central Cauca Mining District â‰ˆ 70,000 ha surrounding B2Goldâ€™s Quebradona project, north of Marmato Up to 3 g/t Au, 58 g/t Ag & 7.1% Zn in outcrop Potential for disseminated (porphyry) and vein style mineralization.
Bullet Precious Metals
Guadalupe Project Located 110 km Northeast of Medellin. â‰ˆ20,000 Ha surrounding the La Bramadora (Au) and El Hoyo (Sb-Au) mines and Azufral (Cu) prospect Results to date up to 43 g/t Au, 455 g/t Ag in vein channels and 1.55 % Cu, 5.21% Zn and 2.28 % Sb in outcrop/float. Potential for VMS polymetalic deposits as well as epithermal precious metal veins and stockworks.
Bullet Precious Metals
Batholith Project Located 75 km Northeast of Medellin. â‰ˆ50,000 Ha in a similar geological setting to the Gramalote (>2Moz Au resource) and Cisneros (currently being drilled) deposits Results to date up to 36g/t Au from abandoned artisanal workings
Bullet Precious Metals
ChigorodĂł Project Alluvial Au-Pt project Comprisesâ‰ˆ104,000 ha, including potential source area 1,352 mg/m3 Au in panning concentrate Cretaceous to Neogene clastic sedimentary sequences intruded by Paleogene granitoids
Bullet Base Metals
Polymetallic projects Projects in most promising mineral districts, mostly in Western Cordillera Porphyry Cu(-Au) and VMS style potential Over 700,000 Ha under contract or application
Bullet Base Metals
Murindo Project Surrounding Rio Tinto and area of historic UN drilling Micogrande Project Surrounding Cu-Zn-Mn stream sediments anomalies and outcropping mineralization
Bullet Fuel Minerals (coal)
Thermal and metallurgical coal in five of Colombia’s principal coal districts: > Cesar – home to Drummond > Boyacá – thermal and metallurgical coal > Santander – thermal and metallurgical coal > Antioquia – thermal coal > Cauca – El Tambo project
Bullet Fuel Minerals (coal)
El Tambo Project Thermal coal deposit in Southwest Colombia â€“ 67,000 Ha â‰ˆ 3,500m of drilling by Ingeominas in the 1990s Estimated +64M tonne thermal coal resource The largest known coal deposit closest to China
Bullet Industrial Minerals
Over 275,000 Ha under application in Eastern Colombia, prospective mostly for bauxite Similar geological setting to Venezuelan bauxite mines Iron sands on Caribbean Coast Also in negotiations with indigenous communities for the production of Tantalum and Niobium
Bullet Construction Materials
Bullet maintains all construction materials rights over its own and Continental Goldâ€™s Concessions Negotiations completed with major civil works contractors involved in construction of Pescadero-Ituango hyrdoelectric project Cash flow generator
Andes The Andes property consists of at least 26,000 hectares, made up of registered mining titles and applications located on the eastern flank of the Western Cordillera of the Andes Mountains in northwest Colombia. Located approximately 70km south-southwest of the city of MedellĂn, in the Department of Antioquia, the property is situated within one of the most prospective and productive gold belts of Colombia, with more than 500 years of gold mining history combined with a number of modern day discoveries.
Andes Geologically, the property is situated to the west of the Cauca-Patia Depression, which marks the terrane boundary between the “Continental” Central Cordillera and “Oceanic” Western Cordillera. This zone is an important feature from a metallogenic standpoint as it became the locus for eastward migrating magmatic activity beginning in the Oligocene – Miocene, due to the reactivation of the Cauca-Romeral Fault Zone, and hosts numerous hypabyssal porphyry intrusions of dioritic to granodioritic composition, related to the area’s gold mineralization.
Located to the northwest of the property is the producing Copper-gold mine at El Roble and to the east are a number of projects currently being advanced by multi-national exploration and mining companies. These include Anglogold Ashanti / B2Goldâ€™s Quebradona project which is currently being drilled, as well as Colombia Goldfields/Medoro Resources historic Marmato Mountain project.
Work completed to date by Grupo de Bullet S.A. has been initial reconnaissance style exploration and prospecting, which has confirmed the potential of the property and highlighted a number of areas for follow-up study. Highlights include 435g/t Au over 20cm in a quartz sulphide vein structure and 2.1g/t Au from a quartz vein in an abandoned tunnel.
At the heart of the Antioquia Batholith gold district
The Batholith The Batholith project is located in Northwest Colombia in the centre of Antioquia Department. Geologically it is situated over the Antioquia Batholith and its eastern contact with metamorphic rocks of the Palaeozoic Cajamarca Formation. This district is considered highly prospective due to more than 500 years of gold mining history combined with a number of exciting new discoveries including the Gramalote project, sold by Grupo de Bullet to Anglogold Ashanti/ B2Gold. The project is located at the northern end of the Central Cordillera of the Andes Mountains. Situated approximately 75km northeast of the city of MedellĂn, the area has excellent infrastructure for exploration and mining. The project consists of at least 14,500ha of mining titles and applications.
The Batholith Geologically, the property is situated over the Cretaceous Antioquia Batholith and its eastern contact with Palaeozoic schists and gneisses. When the geochemical features of Gramalote and surrounding gold deposits are combined with the higher level mineralisations observed along the margins of the Antioquia Batholith, and within relicts of the Cretaceous cover sequences, a full-scale metallogenetic spectrum and zonation of mineralisation and alteration styles, emanating from the Batholith may be envisioned. Surrounding the project to the south and southwest are a number of projects currently being advanced by multi-national exploration and mining companies. These include Anglogold Ashanti/ B2Goldâ€™s Gramalote project which has a 43-101 compliant resource of over 2 Moz Au, as well as the historically producing Guayabito project, currently being drilled by Antioquia Gold. www.grupodebullet.com
The Batholith Work completed to date has been initial reconnaissance style exploration and prospecting of part of the property, which has confirmed its potential and highlighted a number of areas for follow-up study. Results to date have included up to 36.7g/t Au and 47g/t Ag from old workings. Based on this an exploration program has been recommended with the aim of defining first pass drill targets to more fully evaluate the property. The company is currently interested in identifying partners to help advance this important project. A summary technical report has been completed on the property and is available for review upon the signing of a Confidentiality Agreement with the company. Should you be interested in knowing more about the project, please contact Miller Oâ€™Prey, VP Exploration, at email@example.com or 57-4 354 2444.
CARAMANTA PROPERTY At the centre of Colombiaâ€™s Central Cauca gold district
Caramanta The Caramanta project is located in Northwest Colombia in the southwest of Antioquia Department. Geologically it is situated in the heart of the Middle Cauca Gold Belt, as defined by Sillitoe (2008). This belt is considered one of the most prospective and productive gold belts of Colombia, with more than 500 years of gold mining history combined with a number of exciting new discoveries including the La Colosa project of Anglogold Ashanti. The project is located on the eastern flank of the Western Cordillera of the Andes Mountains. Situated approximately 120km south of the city of MedellĂn, the project consists of at least 12,000ha of mining titles and applications.
Caramanta Geologically, the property is situated to the immediate west of the Cauca-Patia Depression, which marks the terrane boundary between the “Continental” Central Cordillera and “Oceanic” Western Cordillera. This zone is an important feature from a metallogenic standpoint as it became the locus for eastward migrating magmatic activity beginning in the Oligocene – Miocene, due to the reactivation of the Romeral Fault Zone, and hosts numerous hypabyssal porphyry intrusions of dioritic to granodioritic composition, related to the area’s gold mineralization. Surrounding the project to the immediate north and south are a number of projects currently being advanced by multi-national exploration and mining companies. These include B2Gold’s Quebradona project which was drilled in 2008, as well as the historic Marmato Mountain project, currently being developed by Colombia Goldfields/ Medoro. www.grupodebullet.com
Caramanta Work completed to date has been initial reconnaissance style exploration and prospecting, which has confirmed the potential of the property and highlighted a number of areas for follow-up study. Results to date have included up to 3g/t Au in outcrop. Based on this an exploration program has been recommended with the aim of defining first pass drill targets to more fully evaluate the property. The company is currently interested in identifying partners to help advance this important project. A detailed technical report has been completed on the property and is available for review upon the signing of a Confidentiality Agreement with the company. Should you be interested in knowing more about the project, please contact Miller Oâ€™Prey, VP Exploration, at firstname.lastname@example.org or 57-4 354 2444.
THE DARIĂ‰N PROPERTY An emerging copper-gold district in Northwest Colombia
The Darién The Darién project is located in the extreme northwest of Colombia, bordering Panamá in the region known as the Darién Gap. As such it represents the northern extension of the Chocó Gold Belt, as defined by Sillitoe (2007). It is also the site of Eocene age porphyry copper style mineralization, discovered in the 1980s (Sillitoe, 1982) and currently being explored by Anglo American plc. The project can be reached by air to Acandí, in the northern sector, approximately one hour from Medellín, or via the Pan-American Highway and a short boat trip to Unguía, in the southern sector, approximately a 10 hour journey from Medellín. It includes 25 mining title applications covering well in excess of 100,000 hectares.
The Darién Geologically, the project is centered on the Cordillera del Darién mountain chain, which is dominated by two main rock types. The northern extension of the Eocene Mandé Batholith is seen intruding the Late Cretaceous to Early Palaeogene Santa Cecilia – La Equis Formation. The former is the largest acid-intermediate igneous body outcropping in the Western Cordillera and is typically a quartz diorite displaying both intrusive and faulted contacts with the country rock. The latter comprises both bi-modal volcanic units and minor amount of clastic and calcareous sediments. On the low-lying coastal plains the underlying geology is covered by various recent alluvial deposits. Known mineralization in the area includes several copper bearing porphyry style systems. At present Anglo American plc is exploring the Acandí system, the most advanced project which was initially drilled in the early 1980s. The potential for epithermal precious metals deposits is also considered high, as supported by the discovery of numerous alluvial workings and potentially economic grades in outcrop. In addition, high concentrations of iron in both beach sands and stream sediments support the belief that the geological environment is also conducive for the formation of iron deposits. www.grupodebullet.com
The DariĂŠn Work completed to date by the company has included a regional stream sediment/ BLEG sampling and prospecting program over the entire property. This was conducted over a six month period and resulted in the collection of 475 stream sediments, 440 BLEG samples and 134 rock/float samples. Whilst stream sediment/ BLEG sites were selected on the drainage network of the properties, rock/float samples were taken only when considered to be of interest. Stream Sediment and rock/float samples were analyzed for a full multi-element suite by SGS, PerĂş and BLEG samples for gold by ACME, Chile. Results to date returned up to 1.62g/t Au and 0.56% Cu from outcrops on the property and based on the full database of results for the three sampling media used, six separate, highpriority, multi-element anomalies were defined along the entire length of the project.
The DariĂŠn The largest and strongest anomaly was identified in the southern sector of the project, which has never been the subject of previous exploration activity. This covers an area of approximately 10,000 hectares. Additional anomalies were identified along strike of the known AcandĂ system and new anomalies were identified in the eastern Coastal Cordillera range, coincident with a number of pronounced topographic lineaments. In summary, the work program to date has clearly demonstrated the considerable merit of the project as an early stage exploration project in a geologically endowed terrane that had never been systematically explored. Furthermore the potential for the discovery of large, bulk-tonnage, near-surface precious and base metal deposits has been strengthened by the identification of at least six high priority targets.
The DariĂŠn The company is currently planning a follow-up program to evaluate the full potential of the targets defined and is interested in identifying partners to enter into a strategic alliance to develop this exciting project. A detailed technical report has been completed on the property and is available for review upon the signing of a Confidentiality Agreement with the company. Should you be interested in knowing more about the project, please contact Miller Oâ€™Prey, VP Exploration, at email@example.com or 57-4 354 2444.
Guadalupe The Guadalupe property consists of more than 20,000 hectares, made up of Exploration Licences, Concession Contracts and applications located in the Central Cordillera in the municipalities of Guadalupe, Gomez Plata, Carolina, Angostura, Amalfi and Anori in the Department of Antioquía, Northwest Colombia. Situated approximately 80km northwest of the city of Medellín the property is situated within a unique geological context that has resulted in the occurrence of multi commodity targets. Geologically, the property is located along the northern contact of the Antioquía Batholith, a known historic gold producer from typically high grade mesothermal vein systems, with the Cretaceous aged San Pablo Formation a flyssch sequence of mixed basic volcanics and clastic sediments. This geological is almost unique to this property.
Guadalupe Minimal exploration has been completed on the property, with the exception of one area in the southeast, which was explored by the company in association with Noranda in the late 1990s. A number of VMS style outcrops grading approx 2% Cu have been mapped on the surface and through TEM surveys. (This is the area under dispute). Work completed to date by Grupo de Bullet S.A. has included a regional-scale prospecting and sampling program. This work has confirmed the potential of the property and highlighted at least two new priority areas for follow-up study. These are both gold dominant systems. To the southwest of the property, within the Antioquia Batholith are a number of mesothermal showings and small mines that returned up to 43g/t Au over 0.5m of vein material and a further 10g/t Au over 1m in the host rock. A second target was defined in the volcanic of the San Pablo formation to the east, near the contact with
Guadalupe the Batholith. This returned up to 2.28% Sb, 455g/t Ag and 0.3g/t Au in intensely silicified rock in what appears to be an epithermal setting. Limited channel samples form a mine lower in the system returned up to 10.45g/t gold over 0.5m. Additionally the source of a number of alluvial workings and gold in pan anomalies remains undiscovered. It is estimated that some US$500,000 would eb necessary to define drill targets and clean up the outstanding legal issues.
THE OTÚ PROJECT
OtĂş OtĂş Gold is an exciting development in the historical heart of Colombiaâ€™s most productive gold district. Its current infrastructure includes two airports and one of most important road projects in Antioquia known as the Highway of Peace, as well as fluvial transport by the Nechi River until the Atlantic. The project encompasses an extensive land position in the Bagre-Zaragoza-Segovia-Remedios-Vegachi municipalities that has accounted for over 30 million oz of principally alluvial gold production. However no company has ever systematically explored the district. Many major gold districts Western Australia and the California Motherlode district were first identified through alluvial gold production where small scale mining extracted gold from rivers and sediments. The presence of alluvial gold eventually lead explorers to search for the hard rock source, such as the mesothermal veins that occur throughout this area. www.grupodebullet.com
OtĂş The geological potential is for motherlode style mesothermal vein deposits, over 50 of which have been discovered on Continental Goldâ€™s concessions, as well as being prospective for potentially bulk minable stockwork style deposits. The district includes a handful of hardrock vein mines, including Frontino Gold Mines, La Ye, Quintana, Machuca, El Limon La Balastrera and Santa Isabel amongst others. Frontino Gold Mines has produced over 5.5 million ounces of gold over the past 157 years of operation. OtĂş Gold has put together a 15x100km land package that covers a significant part of the drainage system into the Nechi river from where multiple million ounces of gold have been dredged. Given the scale of the project, a new company has been formed to develop it with the initial goals of: seeking local partners that can add to the overall land position in the district as well as contribute their expertise and local knowledge, and to raise up to US$50 million to advance the project. www.grupodebullet.com
OtĂş The short term development strategy is to legalize the informal alluvial and hard rock mining in the district in collaboration with regional government, whilst exploring the project area to identify large bulk-tonnage and vein targets using modern exploration techniques, in all cases in an environmentally responsible manner. Through this program OtĂş Gold will legalize small-scale mining operations on its concessions, help to improve working conditions for small scale miners, ensure that their social security and health insurance payments are made and effect technology transfer to improve the environmental performance of small scale miners, such as reducing the use of mercury and ensuring that worked areas are rehabilitated whilst working with the communities to improve their quality of life.
Otú It is estimated that within two to three years, the Otú project could generate some 100,000 oz/y of gold with average grades in the region between 5 and 15 g/t Au, exploiting veins up to two metres wide. In summary, Otú Gold will: • Develop Colombia’s most important historical gold district • Generate short term cash flow through legalizing artisanal miners • Explore for hard rock gold source(s) of significant alluvial gold endowment • Reduce social issues via legalizing artisanal miners • Rehabilitate and improve the environmental conditions in the district • Help the communities to improve their quality of life
Bullet Projects JV agreements on individual projects, or areas/ minerals of interest
Published on Nov 4, 2009