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Rosita Mining Corporation (Rosita), a TSX-Venture listed corporation (RST.V), is a junior mining and prospecting company focused on installing a processing facility at the historic Rosita (copper-gold-silver) Mine which is situated on the Rosita project in northeast Nicaragua.
Rosita has the right to earn 65% interest in the project by October 2015 and is currently commissioning a drill program which will complete the earn-in and achieve that ownership target.
The Company aims to generate near-term cash flow from the processing of the historic stockpiles and tailings at the mine, as well as from additional sources of ore in the area. A current inferred resource of 7.95 million tonnes grading 0.62% copper, 0.46 g/t gold and 9.2 g/t silver exists in four stockpiles around the old pits. Diamond drilling around the vicinity of the pits has identified four areas with in situ mineralization, including 0.20% copper and 1.48 g/t gold over a 65 metre core length. Historic production from the mine is estimated at 245,000,000 pounds copper, 160,000 ounces gold and 2,610,000 ounces silver from 5,400,000 tonnes.
The Rosita project also includes a highly prospective copper-gold-silver porphyry/skarn target at Bambana, 4 kilometres northwest of the pits. Trenching at Bambana has returned 3.32% copper, 0.22 g/t gold and 37.55 g/t silver over 12.0 metres and sampling of old benches has returned 2.09% copper, 0.19 g/t gold and 14.6 g/t silver over 29.0 metres and 1.98% copper, 0.14 g/t gold and 14.4 g/t silver over 29.0 metres. This mineralization is along the edge of one of three highly prospective IP geophysical anomalies defined at Bambana.
With a solid resource base already in place, the company is well placed to develop an economic mineral deposit at Rosita. The Company intends to build its property position with strategic acquisitions.