1950s: Penoles drilled two 100-meter holes at Penasquito and abandoned the property.
1994-1997: Kennecott (a division of Rio Tinto) drilled 71 holes to varying depths (the deepest being 861 meters) and concluded that a copper porphory might be at 700 or 800 meters, which was too deep during this period of collapsing commodities prices. The best ore grades were thought to be at 720 or 820 meters. The gravity method delineated two mineralized breccia pipes, which eventually became the focus of exploration and production at Penasquito.
1998: Western Copper, later changing its name to “Western Silver,” drilled several holes to no greater depth than 418 meters.
2000: Hochschild, a Peruvian miner, joint venturing with Western Silver, drilled its deepest hole to 374 meters and abandoned the project in 2001 because it considered the capital costs of the start-up mine to be too high.
2002: Western Silver drills 15 holes with a maximum depth of 472 meters.
2003-2006: Western Silver drills many more holes with maximum depth to 877 meters. Many of the drill holes from this period concentrate on deeper targets.
2006: Glamis Gold acquires Western Silver for more than a billion dollars. By the end of the year Goldcorp acquired Glamis Gold, principally in order to acquire Penasquito, which it considered the Company’s future big revenue producer.
2007: Canplats discovers Camino Rojo, which consists of a 200-meter oxide gold layer on top of a sulphide gold layer that extended to at least a 724-meter depth. Canplats’ share price, which was below 30 cents in October, ran to more than $5.00 by the end of May 2008, but suffered from the general market collapse that summer and fall.
2009-2010: Goldcorp and Penoles/Fresnillo compete to buyout Canplats, ultimately Goldcorp acquires Caplets for $254 million ($4.80 per share or $308.5 million Canadian).
2010: Galore Resources drills the La Palma at Dos Santos and confirmed the presence of a mineralization event in the area.
2014: Galore Resources options the San Onesimo, 5,000 hectares (12,350 acres) additional property south and contiguous to the property.
Galore Resources conducts gravity testing of approximately 15,000 hectares (37,000 acres), exposing 12 primary targets.