EESA produced approximately 290,000 ounces of gold and about one million ounces of silver. EESA sold the mine and plant to a local Hermosillo mine contractor, Grupo Minero FG S.A. de C.V., who continued limited production and is estimated to have produced approximately 70,000 additional ounces of gold.
Pediment Gold Corp. ("Pediment") optioned and eventually purchased the key concessions, surface ownership and infrastructure from EESA. Further key concessions were also acquired in 2008 and 2010 by Pediment. In 2007, Pediment began compiling the previous work accompanied by an exploration program that included surface sampling and mapping. A drill program commenced in 2008 focusing in the known mineralization zones of El Crestón, La Colorada/Gran Central, Veta Madre and La Verde. These results were followed up by a +10,000 metre drill program in 2009 which combined diamond and RC drilling. Much of this work was directed at the Veta Madre zone.
In 2010, Argonaut acquired Pediment, including the La Colorada Mine, held under Pediment's wholly owned Mexican subsidiary, Compania Minera Pitalla S.A de C.V. ("CMP").
Argonaut began open-pit mining within the La Colorada and Gran Central pit areas in July of 2012 and the expansion of these open pits are the current focus of mining activity.