Fomicruz JV Property
In March, 2008, Estelar signed a Letter of Intent for a strategic alliance with the Fomento Minera de Santa Cruz Sociedad del Estado (“Fomicruz”), the Santa Cruz Provincial Mining Company, whereby that company may hold a 5% equity interest in Cerro Moro upon the receipt of all permits and authorisations required for production. In parallel, Exeter may earn-in to an 80% interest (resulting in a joint venture Fomicruz 20% and Exeter 80%) in a large block surrounding Cerro Moro by spending US$10 million. The Fomicruz JV Block covers a total area of 63,000 Ha (630 square kilometers), and includes a possible northwestern extension of the Escondida vein.
Area covered by Extorre’s Cerro Moro Property and the Fomicruz Joint Venture
Union Domes:
The Union Domes gold project is located 18 kilometers south of the Company's Cerro Moro discovery, within the Fomicruz joint venture exploration ground area. Union Domes is a bulk tonnage gold-silver target related to a rhyolite dome complex. As of March 2011, Extorre completed 8 diamond drill holes on the property. Assays are pending and drilling continues on the property.