Kinti Mining Limited (KMLD) said that Cibola Explorations Inc. has agreed to accept Kinti’s proposal to acquire their Zia uranium tenement. The tenement consists of 142 mining claims in an area of approximately 2840 acres located in the state of New Mexico, USA.
Zia is immediately adjacent to two significant uranium deposits. On its eastern boundary, Cameco operates a mine which has produced 723,032 pounds of uranium and has proven reserves of 2,500,000 pounds. On Zia’s southern and eastern boundaries, the Laramide deposit has proven reserves of 13,629, 804 pounds of uranium.
Eighty-five percent (85%) of the Zia claims are unexplored. The Zia property has two historic mines; The Todilto open pit produced 31,274 pounds of uranium, average grade .44%/ton, the operation closed in 1958. The Vallejo Mine, produced 21,683 pounds of uranium, the operation closed in 1972.
The David C. Fitch, C.P.G report on Zia is in compliance with the requirements of CNI 43-101 and can be viewed on Kinti’s website.