 | 
| |
Mansfield is a mining exploration company led by a team of experienced prospect generators and deal-makers. The Company has focused its activities in the Puna of northwestern Argentina since August 1994 where management first conducted preliminary reconnaissance during January 1994. Impetus for exploration here was the structural and tectonic similarities of the Puna to the Great Basin of the western United States. Timing of this initial foray into northwestern Argentina coincided with the Argentine government being in the process of overhauling a previously unworkable Mining Law.
Although several companies recognized the potential of the area and opened offices in Salta during this period, Mansfield was the only company to maintain a permanent presence through the most recent protracted industry downturn. We believe this will serve the Company in the future as Mansfield is viewed by the locals as a fixture in their community.
Mansfield's exploration team believes economic discoveries most often result from hard won geological insights and continuity in a company's exploration effort. A support staff which is totally familiar with the legal and land tenure system is essential. Mansfield has both elements within its team.
In 1999, the Mansfield exploration team discovered the Lindero gold property and after subsequent exploration and development published an NI 43-101 Resource Estimate in June 2008 announcing 1.6 million ounces Measured and Indicated and 0.27 million ounces Inferred at a cut-off grade of 0.45g/t. At this time the primary objective for management is to complete a prefeasibility study which is well underway. Management believes that deposits such as Lindero which are heap leachable and non capital intensive remain desirable projects to garner attention, particularly if global reflation efforts result in further weakening to the US dollar index and the subsequent strengthening of the price of gold.
In November 2008, the Company completed the corporate spinout of Pachamama Resources Ltd. on a one share for one share basis. Mansfield retains the Lindero property and a portion of cash and investments, with Rio Grande and the remainder of the portfolio of properties, cash and investments being transferred to Pachamama.
| |
