The company is acquiring the project in return for paying US$138,000 and issuing 100,000 shares to the vendor, with a buyout of US$650,000 within four years.
Perched 2,000 metres above sea level, Venturina is accessible from the Chihuahua-Hermosillo Highway and is 345 km from Chihuahua city. An 11-km dirt road leads from the highway to the property.
Recent exploration has consisted of geologic mapping and sampling of the southeastern extension of the 2-km-long Venturina zone, and of the Salvador, San Jose West, Erika and San Joe East zones, all of which are east of the Venturina zone.
At the southeastern portion of the Venturina zone, known as the La Union area, Northair took 16 underground channel samples. These were taken from the mine adit over a developed strike length of 100 metres, and averaged 2.86 grams gold and 111.3 grams silver per tonne.
Thirty-one underground and surface samples have been taken along a 300-metre strike length, and the average grade of these samples is 2.21 grams gold and 97.6 grams silver.
The Venturina zone remains open southeast of La Union, within a concession held by Visionary Gold (vin-v) and in which Northair can earn a 51% interest.
Northair has acquired historical maps from an American company that was developing the Venturina property in the 1930s. The maps indicate that a total of 12 shafts and adits, as well as numerous small underground cuts, were developed and that mining occurred on a limited basis. There are many blocked-out areas within the Venturina zone, where grades range from 5.4 to 14.6 grams gold and 81 to 478 grams silver per tonne.
To date, drilling, as well as surface and underground sampling, has delineated a zone that spans about 2 km and contains mineralization grading between 0.5 and 2 grams gold per tonne, plus associated silver. Further drilling will determine whether significant resources exist.
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