nilam_8k-ex1002.htm


    
      

    

     

    Exhibit 10.2

     

    BACO
(Pativilca)
PROYECT

    
      


      Ancash
        Department-   PERU 

      MRC1
        Exploraciones E.I.R.L. 

      


      


      The
        Baco
        project consists of a gold production operation which has a cyanidation  
plant of 5 0 TMD capacity and about 2.100 hectares of m ining properties
        with
        the presence of gold veins in the north-central coast of Peru . 

      


      Location
        and Access -
        The project is located in
        the last western reinforcement of the west ern of c entral Andes of Peru.
        About
        200 km NNW of Lima . Politically belongs to the district and province of
        Huarmey
        , Anchas dep artment .   It is accessible by highway from Lima , according
        to the following itinerary : 

      


      


      
        	
                Lima
                  - Pativilca 

              	
                200
                  km . 

              	
                Asphalt
                  Highway 

              
	
                Pativilca
                  - Cruz de Arévalo 

              	
                33
                  km . 

              	
                Asphalt
                  Highway 

              
	
                Cruz
                  de Arévalo - Proyecto 

              	
                4
                  km . 

              	
                Affirmed
                  Highway 

              
	 	 	 
	
                Total
                  Lima - Proyect 

              	
                237
                  km . 

              	
                (4
                  Hours) 

              


      

      


      


      Topography
        and Weather.- The
        project area is at a n altitude between 300 and 1.000 m .a.s.l. Its relief
        t is
        rugged and moderately disected by dry valleys and ravines. It has an arid
        coast
        weather, most of the year is dry and presents fog and drizzle during the
        winter
        months. 

      


      Property
        Mining.-  C
        onsists of 6 mining valid concessions that are a total of 2.100 hectares
        of
        extension . 

      


      
        	
                RIGHT
                  

              	
                CODE
                  

              	
                HECTARE
                  

              	
                TITULAR
                  

              
	
                VIA
                  CARIÑO 

              	
                01-00823-04
                  

              	
                100
                  

              	
                MRC1
                  EXPLORACIONES E.I.R.L. 

              
	
                LAGRIMAS
                  DE ORO 

              	
                01-02227-04
                  

              	
                200
                  

              	
                MRC1
                  EXPLORACIONES E.I.R.L. 

              
	
                BONANZA
                  DE ORO 

              	
                01-02337-04
                  

              	
                200
                  

              	
                S.M.R.L.
                  ÉXITO XXIII 

              
	
                GIANDERI
                  XXVII 

              	
                01-02723-04
                  

              	
                1000
                  

              	
                S.M.R.L.
                  ÉXITO XXII 

              
	
                GIANDERI
                  XXXI 

              	
                01-02775-04
                  

              	
                400
                  

              	
                S.M.R.L.
                  OMAY 300 

              
	
                GIANDERI
                  XXX 

              	
                01-02776-04
                  

              	
                200
                  

              	
                MRC1
                  EXPLORACIONES E.I.R.L. 

              
	 	 	
                2100
                  

              	 


      

      


      Lupine
        Formation (Casma
        group) : 

      


      A
        ndesitic lavas of marine origin, in pad s , locally porfiritics ; l ying
        in
        accordance with the Breas formation, which passes in gradual way. Locally
        presents silcificated areas and marcasite dissem ination , possibly associated
        with a metarmosfism contact with intrusive rocks. It is Albiana age east
        to s
        uperior. 

      


      


      


      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      


      


      


      Tonalita
        Huaricanga (Santa
        Rosa Complex) : 

      


      Unit
        intrusive outcrop with varying compositions between a diorite cuarcífera and
        tonalita basic. Locally enriches in quartz and feldspar granodiorite. It
        lower
        tertiary age. 

      


      Diorite
        Paccho (Santa Rosa Complex):

      


      I
        ntrusive complex unit that stands between metadiorite , diorite quartzly
        and
        monzodiorite cuarcifera of fine grain, in which graduatioly contacts are
        more frequent than clear contacts. It is lower tertiary age.

      


      Barrages
        Deposits (Quaternary Recent):

      


      They
        are
        powerful deposits of conglomerates badly classified, badly stratified and
        with
        rollings songs moderately round to angular that are deep in the valleys or
        depressions of the zone. They form inclined moderately slopes and mainly
        present
        fragments of local origin generally.

      


      ECONOMIC
        GEOLOGY:

      


      The
        rocks
        outcrop s in the area have suffered tectonic processes that have led to
        fractures and folds. The fracturing has been used by fluids from the intrusive
        to form veins, bodies of divide and dikes. 

      


      System
        Stripes :


      


      The
        main
        system of veins is NE-SW direction and 65 o-75 o SE   dip. This system has
        ties cimoides and generally branches to the west. 

      


      The
        length of the outcroppings varies from a few meters to more than one kilometer,
        its average power is 0.20 m . to 0.50 m . a nd are stationed in andesites
        of the
        Lupin formation . 

      


      The
        second system is N-S direction and is more powerful, between 1.00 and 2.00
        meters . 

      


      The
        veins
        mineralogy is simple stuffed with quartz gold, iron oxides (limonite, jarosite
        and hematite), calcite, barite and sparks malachite, galena and blenda.


      


      The
        alteration of the boxes consists of an argiliza tion and weak to moderate
 
propylene. 

      


      


      Mineralized
        Areas and
        Mineralized Corridor : 

      


      There
        were three areas located with the presence of mining work and mining outcrops
        of
        gold veins that belong to the two systems, NE-SW and N-S, which form a corridor
        of about 5 –   6   kilometer lenght . It may be the presence of a
        stock work at the intersections of the two vein systems , specially in the
        area
        2. 

      


      Areas
        1
        and 2 are located in central and s outh- w est of m ineralized c orridor
        , are
        the lower areas and have road access, the veins of these areas are being
        prepared by the Company. They are located within the concessions BONANZA
        DE ORO
        and LAGRIMAS DE ORO . 

      


      The
        zone
        3 is located at Nor-East, in the highest part, it worked by informal miners,
        road access reaches about 200 meters below the proceedings inside the concession
        VIA CARIÑO. 

      


      


      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      


      SAMPLING
        AND MINES
        WORK

      


      R
        epresentative S amples have been taken from the different tasks and worked
        veins
        by informal miners, which gave the following results: 

      


      TABLE
        OF GEOCHEMISTRY ANALYSIS OF SGS 

      


      


      


      
        	
                Element
                  

              	
                Au*
                  

              	
                Au-140M
                  

              	
                Au+140M
                  

              	
                W_Mtra
                  

              	
                W-140M
                  

              	
                W+140M
                  

              	
                Ag
                  

              	
                As
                  

              
	
                Unit
                  

              	
                g/TM
                  

              	
                g/TM
                  

              	
                g/TM
                  

              	
                g
                  

              	
                g
                  

              	
                g
                  

              	
                ppm
                  

              	
                ppm
                  

              
	
                Method
                  

                
                

              	
                FAXONW
                  

              	
                FAXONW
                  

              	
                 FAXONW
                  

              	
                FAXONW
                  

              	
                FAXONW
                  

              	
                FAXONW
                  

              	
                ICPREC
                  

              	
                ICPREC
                  

              
	
                Limit
                  Detec. 

                
                

              	
                0,02
                  

              	
                0,02
                  

              	
                0,02
                  

              	
                0
                  

              	
                0
                  

              	
                0
                  

              	
                0,2
                  

              	
                3
                  

              
	
                PT-02
                  

              	
                19,38
                  

              	
                15,01
                  

              	
                109,5
                  

              	
                515,1
                  

              	
                491,3
                  

              	
                23,8
                  

              	
                4,8
                  

              	
                1102
                  

              
	
                PT-03
                  

              	
                2,49
                  

              	
                2,4
                  

              	
                3,99
                  

              	
                504
                  

              	
                474,7
                  

              	
                29,3
                  

              	
                6,6
                  

              	
                200
                  

              
	
                PT-06
                  

              	
                92,12
                  

              	
                59,35
                  

              	
                877,5
                  

              	
                519,3
                  

              	
                498,5
                  

              	
                20,8
                  

              	
                65,4
                  

              	
                >10000
                  

              
	
                PT-07
                  

              	
                38,69
                  

              	
                28,9
                  

              	
                233,8
                  

              	
                501,9
                  

              	
                477,9
                  

              	
                24
                  

              	
                20,8
                  

              	
                >10000
                  

              
	
                PT-08
                  

              	
                14,11
                  

              	
                10,72
                  

              	
                82,54
                  

              	
                524,2
                  

              	
                499,4
                  

              	
                24,8
                  

              	
                17,8
                  

              	
                >10000
                  

              
	
                PT-09
                  

              	
                108
                  

              	
                72,71
                  

              	
                671,6
                  

              	
                500
                  

              	
                470,5
                  

              	
                29,5
                  

              	
                40,3
                  

              	
                >10000
                  

              
	
                PT-10
                  

              	
                31,84
                  

              	
                23,07
                  

              	
                193,9
                  

              	
                509,9
                  

              	
                483,7
                  

              	
                26,2
                  

              	
                9
                  

              	
                >10000
                  

              
	
                PT-11
                  

              	
                21,09
                  

              	
                17,51
                  

              	
                81,64
                  

              	
                501,2
                  

              	
                473,2
                  

              	
                28
                  

              	
                6,5
                  

              	
                8914
                  

              
	
                PT-12
                  

              	
                12,75
                  

              	
                11,67
                  

              	
                33,18
                  

              	
                489
                  

              	
                464,5
                  

              	
                24,5
                  

              	
                9,7
                  

              	
                1072
                  

              
	
                PT-13
                  

              	
                7,33
                  

              	
                7,32
                  

              	
                7,48
                  

              	
                504,8
                  

              	
                481,8
                  

              	
                23
                  

              	
                0,7
                  

              	
                1964
                  

              
	
                PT-14
                  

              	
                1,42
                  

              	
                1,43
                  

              	
                1,17
                  

              	
                494,5
                  

              	
                470,5
                  

              	
                24
                  

              	
                0,2
                  

              	
                3382
                  

              
	
                PT-15
                  

              	
                11
                  

              	
                9,84
                  

              	
                34,89
                  

              	
                500
                  

              	
                476,7
                  

              	
                23,3
                  

              	
                2,6
                  

              	
                5094
                  

              
	
                PT-16
                  

              	
                0,09
                  

              	
                0,1
                  

              	
                -0,02
                  

              	
                477,6
                  

              	
                453,6
                  

              	
                24
                  

              	
                0,3
                  

              	
                49
                  

              
	
                PT-17
                  

              	
                0,06
                  

              	
                0,07
                  

              	
                -0,02
                  

              	
                465,8
                  

              	
                442,3
                  

              	
                23,5
                  

              	
                0,3
                  

              	
                34
                  

              
	
                PT-30
                  

              	
                79,59
                  

              	
                71,02
                  

              	
                252,1
                  

              	
                504,8
                  

              	
                480,9
                  

              	
                23,9
                  

              	
                20,5
                  

              	
                859
                  

              
	
                PT-31
                  

              	
                47,24
                  

              	
                42,15
                  

              	
                147,2
                  

              	
                494,5
                  

              	
                470,5
                  

              	
                24
                  

              	
                10
                  

              	
                1119
                  

              
	
                QB-01
                  

              	
                0,07
                  

              	
                0,08
                  

              	
                -0,02
                  

              	
                540,5
                  

              	
                516,8
                  

              	
                23,7
                  

              	
                0,2
                  

              	
                13
                  

              
	
                QB-02
                  

              	
                0,08
                  

              	
                0,06
                  

              	
                0,48
                  

              	
                503,8
                  

              	
                480,8
                  

              	
                23
                  

              	
                0,2
                  

              	
                é12
                  

              


      

      


      Also
        , a
        sampling on 100 meters of outcrop of the “Cobre” vein in the west zone of the
        project, gave the following results: 

      


      
 

      
        
          	
                  SAMPLE
                    

                	
                  LAWAugr/TM
                    

                
	 	 
	
                  MC–01

                	
                  0.38

                
	
                  MC–02

                	
                  1.60

                
	
                  MC–03

                	
                  4.49

                
	
                  MC–04

                	
                  24.93

                
	
                  MC–05

                	
                  5.07

                
	 	 
	
                  MC–06

                	
                  2.05

                
	
                  MC–08

                	
                  2.38

                
	
                  MC–09

                	
                  1.06

                
	
                  MC–10

                	
                  25.79

                
	
                  MC–11

                	
                  4.03

                
	
                  MC–12

                	
                  0.44

                
	
                  MC–13

                	
                  12.06

                
	
                  MC–14

                	
                  2.28

                
	
                  MC–15

                	
                  29.70

                
	
                  MC–16

                	
                  11.86

                
	
                  MC–17

                	
                  2.43

                
	
                  MC–18

                	
                  3.47

                
	
                  MC–19

                	
                  1.34

                
	
                  MC–20

                	
                  3.56

                
	
                  MC–21

                	
                  4.97

                
	
                  MC–22
                    

                	
                  0.67