Altiplano

Highlights on the first week of May 2016, Mineral Exploration in Mexico

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On the first week of May Riverside Resources, Yamana Gold and Kootenay Silver announced work on their properties, while Fresnillo PLC detailed its exploration budget for the year. Santacruz Silver released year end results, while Yamana Gold, McEwen Mining and Great Panther released results for the first quarter. Fund raising and deals are picking steam, with five companies, Colibri Resource, Golden Minerals, Millrock Resources, Bowmore Explorations and Endeavour Silver announcing private and at the market offerings that sum over 48 million; during the same period six companies announced deals that range from outright acquisition and option agreements to  property swaps for debts, these companies are McEwen Mining, Aurcana Corp, Santacruz Silver Mining, Minera Alamos and Arian Silver corp.

On Exploration

  • Riverside Resources Inc. has completed several exploration campaigns on the Glor property, in Sonora. Including detailed geologic and alteration mapping, rockchip and channel assays, an orientation ground magnetic survey and a soil sampling survey on part of the property.
  • Fresnillo PLC. is to invest $135 million in exploration in 2016, $16 million less than in 2015.
  • Yamana Gold Inc. continues exploration near to mining operation at its Mercedes mine in Sonora, having completed 440 m of drilling in March, assays pending.
  • Kootenay Silver Inc. announced exploration results on La Soledad Zone, part of La Cigarra project in Chihuahua. The results from 70 rock samples are mineralized with silver and lead, with results of up to 252 g/t Ag and 20% Pb across 1.2 meters.

On Mining

  • Santacruz Silver Mining Ltd. released its year-end 2015 results, which include the production of 832 K Oz AgEq from the processing of 79 K tonnes of ore. Cash Cost per AgEq ounce was $12.62 and All-in Sustaining Cost per AgEq Oz of $16.98.
  • Torex Gold. Officially opens production at its Limon-Guajes mine in Guerrero.
  • Yamana Gold Inc. released first quarter results for 2016, which include 24.3K Oz Au and 124.6 K Oz Ag from its Mercedes mine in Sonora. That production was achieved at cash cost $635 per ounce of gold and $8.24 per ounce of silver.
  • McEwen Mining Inc. released first quarter 2016 results, which include the production of 20.1 K Oz AuEq from its El Gallo mine in Sinaloa. The exploration budget for 2016 is $2.6 million.
  • Great Panther Silver Ltd. reported financial results for the first quarter of 2016. The company operates the Topia mine in Durango, the San Ignacio mine and the Guanajuato Mine Complex in Guanajuato. The company produced 539 K Oz Ag and 5.6 K Oz Au from the processing of 88.6 K tonnes of ore from these mines, at cash cost US $4.20 and a AISC US $9.25.

On Financing

  • Colibri Resource Corp. closed its private placement for total proceeds of up to $80,000.
  • Golden Minerals Co. has announced a $4 million registered direct offering with institutional investors, to be used in the exploration of the projects San Luis del Cordero in Durango and Santa Maria in Chihuahua.
  • Millrock Resources Inc. is planning to raise up to $3.5 million through a non-brokered private placement.
  • Bowmore Explorations Ltd. has received conditional regulatory approval for the non-brokered private placement for total gross proceeds of up to $750 K.
  • Endeavour SilverCorp. Announced At-The-Market Offering of up to US $40 million, to be used in the in exploration and development of its Terroneras project in Jalisco, and underground development at its Guanacevi mine in Durango.

On Deals

  • McEwen Mining Inc. informed the purchase from Almadex Minerals Ltd. of “El Encuentro” property for US250 K and a 2.0% NSR. The “El Encuentro property is located 10 km from McEwen’s operating “El Gallo” gold-silver mine in Sinaloa.
  • Aurcana Corp. transferred the company’s interest in the “La Negra” mine, located in Queretaro, to Orion Mine Finance, settling the outstanding debt to the latter.
  • Santacruz Silver Mining Ltd. entered an option agreement to acquire from Golden Minerals Co. several claims in the Zacatecas mining district.
  • Minera Alamos Inc. announced the closing of the acquisition of the La Fortuna gold project in Durango, from Argonaut Gold Inc.
  • Arian Silver Corp. has secured the exclusive right to evaluate the Nochebuena tailings project (~100 K Oz Au, 1.7 M Oz Ag) for 4 more months, at a price tag of $25 K.

Content like what you have just read can be seen at LinkedIn’s Mexico Mineral Exploration Group.

On the picture below, A silicified breccia in a low angle fault zone related to the Puerta del Sol  core complex in Sonora.

DSCN4117

Mineral Resources in the Altiplano

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mines and projects_altiplano

The Altiplano Mexicano is one of the most prospective mining regions in Mexico attested by the vast production carried out through its more than 500 years of mining history. Displaying great diversity of ore deposits, this mining-friendly region still holds considerable resources, a lot of which are contained in reckoned world class deposits.

This mining region has seen important events in the past decades, especially in Zacatecas, attracting the attention of many mining companies with the discoveries of Francisco I Madero and San Nicolas deposits in 1999-2000, followed by the discoveries of the giant deposits of Peñasquito and Camino Rojo some years later. The Juanicipio and Saucito deposits also prove the prospectivity of the region with the successful brownfield exploration programs conducted in the vicinity of the Fresnillo Mine.

Durango State also deserves a special note with the recent discoveries of La Preciosa and Pitarrilla, while Chihuahua shows a couple of important discoveries with Los Gatos and Cordero.

To date, mining companies have outlined resources in 79 properties, 42 of which are in production and 37 more in feasibility or development.

Up to 2014, total published resources for 53 M oz Au, 6,048 M oz Ag, 9,937 M lb Cu, 26,748 M lb Pb, and 71,006 M lb Zn have been delineated in nine types of ore deposits: low-sulphidation epithermal, intermediate-sulphidation epithermal, carbonate replacement, Mississippi valley, porphyry copper, SEDEX, stratiform copper, skarn and VMS.

Intermediate-sulphidation epithermal is the most relevant mineralization style in the Altiplano, with more than 40.7 M oz Au, 4,767 M oz Ag, 957 M lb Cu, 22,136 M lb Pb, and 46,012 M lb Zn in thirty one deposits, that represent over 77% and 79 %, of the total resources of Au and Ag respectively. This mineralization style is followed by the low-sulphidation epithermal style with almost 5 M oz Au and 448 M oz Ag in twenty one deposits, that represent over 9% and 7% of the total resources of Au and Ag respectively.

Carbonate replacement deposits contain over 1.7 M oz Au, 301 M oz Ag, 3,113 M lb Cu, 2,385 M lb Pb, and 9,590 M lb Zn in ten properties. Skarn deposits have resources for 1.9 M oz Au, 280 M oz Ag, 1,978 M lb Cu, 1,197 M lb Pb, and 5,148 M lb Zn in eight properties.

The rest of the Au, Ag, Pb, Zn and Cu resources are distributed in two porphyry coppers, one MVT, one VMS, one SEDEX, and one stratiform copper deposits.

The table below shows the total gold, silver, copper, lead, and zinc resources (all inclusive) for each mineralization style.

total published all-inclusive resources in the altiplano

Highlights on the fifth week of March 2016, Mineral Exploration in Mexico

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On the fifth week of March, on exploration Colibri Resource announced a new drilling campaign in Sonora, Mag Silver continuation of deep exploration at Juanicipio, Southern Silver a new round of drilling in Durango and Oddisey Marine Exploration is waiting for permitting on its offshore project in Baja. On resources, First Majestic Silver, Timmins Gold and Americas Silver Corp released updated resource numbers for a total of nine properties in Sonora, Sinaloa, Chihuahua, Durango Zacatecas and Mexico State. On mining, Sierra Metals, First Majestic and Alix Resources released their results for year 2015, while on finance Excellon Resources and Alix Resources announced private placements to fund their work. Finally, Torex Gold reached commercial production in Guerrero.

On Exploration.

  • Colibri Resource Corp. announced that their JV partner, Agnico Eagle Mines Ltd. is planning to drill the Pitaya property in Sonora.
  • Odyssey Marine Exploration Inc. disclosed its 2015 results, among which states it is awaiting approval of its environmental permit application on its submarine phosphate project Don Diego, off the coast of Baja
  • Mag Silver Corp. disclosed its 2015 annual results, providing the update for the year on the exploration of its Juanicipio property in Zacatecas, held in JV with Fresnillo PLC. “Development at the Juanicipio project remains focused on the continued ramp advancement and associated underground mining infrastructure, as well as on some metallurgical and geotechnical studies”. On exploration, it is highlighted the wide and well mineralized intervals intersected 100m below the deepest previous drilling, that may indicate an ore-fluid upwelling zone, and a very good mineral potential.
  • Southern Silver Exploration Corp. announced a new round of drilling at its Cerro Las Minitas property in Durango, starting on the first week of April, and describing targets for three diamond holes.

On Resources.

  • First Majestic Silver Corp. presented an updated technical report for its La Encantada mine in Coahuila. It provides all-inclusive resources of 7 M tons @ 171.1 g/t Ag and 0.43% Pb, for a total of 38.5 M Oz Ag and 66.4 M Lb Pb (Cautionary note.- Resources are said to be inclusive of reserves, but reserves are calculated with a larger tonnage than resources). As for recoveries, these are in the range from 58 % to 67 % for silver from different orebodies and 60 % for lead. In the case of re-processing old tailings, metallurgy studies are showing improvement of up to 70 % recovery by implementing roasting.
  • Timmins Gold Corp. released an updated technical report on its San Francisco mine in Sonora. The new measured and indicated resource (mineral reserves inclusive) amounts to 34.6 Mt at 0.62 g/t Au, for a total of 693 K Oz Au. The inferred resource is on 0.95 Mt of ore at 1.33 g/t Au, for a total of 45 K Oz Au. Included on these numbers are underground M+I resources of 53 K Oz Au (0.48 Mt at 3.48 g/t Au) and inferred resources 27 K Oz Au (0.24 Mt at 3.5 g/t Au). The resource base reported is considerably lower than the one of the 2013 technical report, especially in the inferred resources category.
  • First Majestic Silver Corp. released its resource base to the end of 2015, including M + I resources for its six mining units: La Encantada (33.2 M Oz AgEq, see above), La Parrilla (24.6 M Oz AgEq) , San Martín (21 M Oz AgEq), Del Toro (34.9 M Oz AgEq), La Guitarra (13.4 M Oz AgEq), Santa Elena (29.1 M Oz AgEq), for a total of 156.3 M Oz AgEq. Those resources show grades that range from 170 g/t AgEq to 443 AgEq, with an average of 247 g/t AgEq. Furthermore, the inferred resource category includes those six mines and the La Joya project in Durango, with a total of 273 M Oz AgEq.
  • Americas Silver Corp. updated its resource base to the end of 2015, with its Cosalá operation in Sinaloa including a maiden resource for the San Rafael area. The all-inclusive resource base adds up to 49 M Oz Ag, 38.5 M Lb Cu, 335 M Lb Pb and 712 M Lb Zn, hosted in 15.6 M tonnes of ore at an average grade of 97 g/t Ag, 0.11 % Cu, 1 % Pb and 2 % Zn

On Financing

  • Excellon Resources announced a non-brokered private placement by Eric Sprott for gross proceeds of C$ 3 million dollars.
  • Alix Resources Corp. announced that it is increasing the non-brokered private placement announced on February 10th, 2016 from four million units to ten million units, for aggregate gross proceeds of $500,000.

 

On Mining

  • Sierra Metals Inc. released its 2015 results, which include production from its Bolivar and Cusi mines in Chihuahua, but without disclosing production per mine unit. Cash cost per copper equivalent pound was $1.34 and AISC $2.33 at Bolívar while cash cost per silver equivalent ounce at Cusi was $9.03 and AISC $26.79. The 2016 guidelines include processing of about a million tons of ore at Bolívar and some 200 K tons at Cusi, for a target of up to 600K Oz Ag, 21.7 M Lb Cu, and 4.3 K Oz Au at Bolivar and up to 1 M Oz Ag, 3.5 M Lb Pb and 800 Oz Au at Cusi.
  • Americas Silver Corp. produced its year end results for 2015, having produced 1.15 M ounces of silver and 2.4 million silver equivalent ounces at a cash cost of $10.80 per ounce and an all‐in sustaining cost of $14.89 per ounce

On Deals

  • Kootenay Silver Inc. announced an agreement with Coeur Capital Inc. to acquire its 2.5% net smelter return royalty on future production from Northair Silver Corp.’s La Cigarra project, located in Chihuahua.
  • Millrock Resources Inc. announced an option JV agreement with Centerra Gold Inc. concerning its Los Chinos and Los Cuarentas gold projects in Sonora. Under the option agreement, Centerra can earn a 70% interest by completing US$5.0 million in exploration expenditures at Los Chinos and US$2.0 million at Los Cuarentas, over a five-year period.

On Development

  • Torex Gold Resources Inc. announced that commercial production has been achieved at its El Limon-Guajes mine in Guerrero, having operated 30 consecutive days at 9,470 tonnes per day. Recoveries are close the design level of 87.4 %.

In the image below, a strongly sericitized and quartz veined biotite gneiss, Las Cruces ranch, Sonora.

Strongly sericitized biotite gneiss, RRI-10357

Lead-Zinc Resources in the Altiplano

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altiplano_pb-zn con logo

The Mexican Altiplano mining region has the biggest endowment in Pb-Zn resources in the country, and is host to the two largest Pb-Zn ore deposits: Peñasquito and Cordero. The Altiplano has total public all- inclusive resources of 26.7 B lb Pb and 71 B lb Zn, including the two giant deposits of Peñasquito, with 6,245 M lb Pb and 14.6 B lb Zn, and Cordero, with 5,139 M lb Pb and 9,616 M lb Zn.

Pb-Zn resources occur in several mineralization styles, such as intermediate-sulphidation epithermal, Mississipi valley type (MVT), volcanogenic massive sulphide (VMS), carbonate replacement (CRD), skarn, and sedimentary exhalative (SEDEX). From the total resources outlined to date in the region, 43% of the Pb resources and 34% of the Zn resources are in the intermediate-sulphidation deposits of Goldcorp´s Peñasquito and Levon´s Cordero, making this the most relevant lead & zinc mineralization style, along with the carbonate replacement and skarn categories.

Other significant Pb-Zn deposits present in the Altiplano are Silver Standard´s Pitarrilla with 1,917 M lb Pb and 4,384 M lb Zn, followed by the Fresnillo and Saucito deposits held by Fresnillo Plc., with 2,055 M lb Pb and 4,081 M lb Zn, and 1,093 M lb Pb and 1.983 M lb Zn respectively.

Many significant carbonate replacement, skarn and intermediate-sulphidation epithermal deposits with more than 350 M lb Pb and more than 1 B lb Zn occur in the Altiplano and are widespread in the region, making the Altiplano a high-priority region to explore for additional Pb-Zn resources.

The table below shows tonnages, grades, as well as lead-zinc resources (all inclusive) for each of these deposits.

published lead-zinc resources in the altiplano

Copper Resources in the Altiplano

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In spite of not having comparable copper resources to those identified in the Northwest region of Mexico, the Altiplano still hosts significant resources contained in several types of ore deposits, such as porphyry copper, skarn, carbonate replacement, intermediate sulphidation epithermal, MVT and VMS. Teck-Goldcorp´s San Nicolas VMS and Frisco´s Tayahua carbonate replacement deposits in Zacatecas State are host to the largest copper resources, with more than 5.5 B lb Cu, of which 2.8 B lb Cu are contained in San Nicolás and 2.7 B lb Cu in Tayahua at grades of 1.24 % and 1.05 % Cu respectively, that represent over 57% of the total published all inclusive resources in this region. These are followed by the intermediate sulphidation epithermal deposit of Cozamin of Capstone with over 793 M lb Cu and by the porphyry copper deposit of Aranzazu held by Aura Minerals with over 768 M Lb Cu. Both are also in Zacatecas State, with grades of 1.34 % and 1.48 % Cu respectively. Next is the skarn deposit of La Paz, run by Negociacion Minera de Santa Maria de la Paz y Anexas in San Luis Potosi, with more than 757 M lb Cu at a grade of 1.20 % Cu. To date, the Altiplano hosts published all inclusive resources of more than 9.9 B lb of copper, of which, more than 3 billion occur in carbonate replacement deposits, over 2.8 billion in a single VMS deposit, and over 2 billion in skarn deposits. Many ore deposits with less than 500 M lb Cu mainly from carbonate replacement and skarn affinity occur and are widespread in the region. Other areas of the Altiplano are amenable for copper exploration and are awaiting to be explored in search of additional resources.

The table below shows tonnages, grades, as well as copper resources (all inclusive) for each of these deposits.

published copper resources in the altiplano

Canarc Resources, From Exploration to Production With a Low Cost Resource, CEO Clip Video

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http://www.newsfilecorp.com/release/19746/Canarc-Resources-From-Exploration-to-Production-With-a-Low-Cost-Resource-CEO-Clip-Video#.VuxfMeTrvIU

Vancouver, British Columbia–(Newsfile Corp. – March 18, 2016) – Catalin Chiloflishci, President & CEO of Canarc Resources Corp (TSX: CCM), explains how this company is moving forward even in today’s markets.

Silver Resources in the Altiplano

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altiplano_ag con logo

The Mexican Altiplano is the most silver endowed region in the country. Within this well known mining region is the famous Faja de Plata (Silver Belt), host to the notorious Fresnillo, Guanajuato, Zacatecas, etc. mining districts. The region contains significant silver resources in several types of ore deposits, such as low & intermediate sulphidation epithermal, carbonate replacement, skarn, MVT, SEDEX, stratiform copper, porphyry Cu-Au, and VMS deposits.

The biggest silver deposit present in this mining region is the recently discovered Goldcorp´s Peñasquito in Zacatecas State.

Over 2.6 billion of the silver resources (~44%) are located in Zacatecas State, of which more than 1.4 billion (~23%) ocurr in the Fresnillo Mine area (Fresnillo, Saucito and Juanicipio properties). To date, the Altiplano hosts all inclusive published resources for more than 6.0 billion ounces of silver, of which 4.77 billion occur in intermediate sulphidation epithermal deposits, making these the most relevant silver mineralization style in this mining friendly region of Mexico.

Goldcorp´s Peñasquito with published resources (all inclusive) over 1.0 B Oz Ag is the biggest silver resource in the Altiplano. This deposit is followed by Fresnillo Mine of Fresnillo Plc and Silver Standard´s Pitarilla deposits with over 753 M Oz Ag and 739 M Oz Ag respectively. Other significant deposits with resources are Cordero of Levon Resources with 493 M Oz Ag, Saucito of Fresnillo Plc with 447.2 M Oz Ag, and Juanicipio of Fresnillo Plc-MagSilver with over 204.6 M oz Ag. Many deposits with less than 200 M Oz Au from different mineralization styles occur and are widespread in the region.

The Altiplano still has a great potential and is awaiting for mining companies to discover additional resources, as it has been attested by the recently discoveries of La Preciosa by Orex (now own by Coeur D´Alene) and Silver Standard´s Pitarrilla in Durango State, as well as the Fresnillo´s Saucito and Fresnillo-Mag Silver´s Juanicipio properties around Fresnillo Mine, being these last properties a result of succesfully brownfield exploration programs.

The table below shows tonnages, grades, as well as silver resources (all inclusive) for each of these deposits.

published silver resources in the altiplano

Highlights on the second week of March 2016, Mineral Exploration in Mexico

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During the second week of March several companies released news regarding drilling campaigns, mobilization, partial completion of drilling campaigns or new results from previous ones, for four projects in Sonora. Palamina announced some results from field work in its property in Hidalgo. Gold Resources released a new resource base, while Southern Silver and Avino Silver announced new financing rounds. US Antimony disclosed the mill testing being conducted in Central Mexico, while Gold Resource and Southern Silver released their 2015 numbers. Chesapeake released a new PFS on its Metates project in Durango, and Candente signed an option agreement regarding the tailings of its property in Mexico State.

On Exploration.  Riverside Resources Inc  has begun a double drill program on its Tajitos property In Sonora. A diamond rig is being used on the main outcropping targets, while an RC unit is testing for bedrock under gravels and testing magnetic and IP anomalies in El Tejo claim to the East. Palamina Corp reports the completion of a ground magnetic survey and a rockchip sampling campaign at its Santuario property in Hidalgo. They report several mag highs of interest, as well as gold up to 4.4 g/t gold in the Clemente area. Oceanus Resources Corp announced results of core intervals not previously sampled on its El Tigre property in Sonora. These results, merged with the previous ones, show longer and higher grade intervals than the reported before. The mineralized zone reaches up to 85 m in width and the best holes show up to 127 m @ 1.8 g/t Au and 27.5 g/t Ag, 139 m @ 0.94 g/t Au and 6.6 g/t Ag and 67.4 m @ 1.07 g/t Au and 44.7 g/t Ag. Azure Minerals LTD reported that four holes have been completed on its current drill program at its Alacran project in northern Sonora. The four holes are situated along the Loma Bonita ridge and are following-up geophysical and geochemical anomalies, both for shallow and deep mineralization targets. Assays are pending. Garibaldi Resources Corp announced the commencement of diamond drilling of the Rambo target in its 50 square km Rodadero project in central Sonora. San Marco Resources Inc and GlobeTrotters Resource Inc signed an agreement to jointly explore in Sonora, using the local knowledge and man power of the former and the ASTER processing capabilities of the latter.

On Resources. Gold Resources Corp released its resource base for the end of 2015, which include reserves of 1.6 M tons @ 2.1 g/t Au, 162 g/t Ag, 0.3 % Cu, 1.3 % Pb and 3.5 % Zn, as well as inferred resources of 0.8 M tons @ 1.4 g/t Au, 154 g/t Ag, 0.3 % Cu, 1.1 % Pb and 3.6 % Zn, for a total resource of 163 K Oz gold, 12.5 M Oz silver 10.9 M Lb Copper, 47.1 M Lb lead and 126.9 M Lb zinc.

On Financing. Southern Silver Exploration Corp closed the first tranche of its non-brokered financing, gathering $381 K dollars. Avino Silver and Gold Mines LTD announced a brokered public offering of shares, by means of which expects to net proceeds of US$ 744,000.

On Mining. US Antimony Corp reported on mill testing on its Los Juarez property in Queretaro. A shallow reconnaissance drilling program indicates a global average grade of 1.432 grams g/t gold, 75.2 g/t silver and 0.34% antimony.  Gold Resource Corp released its 2015 results, which include the production of 29.6 K Oz Au, 2.5 M Oz Ag, 1.3 K tons Cu, 4.1 K tons Pb and 13.9 K tons Zn. The company milled 413 K tons during the year, for a 1,220 tons/ day average, from the Arista vein. McEwen Mining LTD reported the 2015 production for its El Gallo Mine in northern Sinaloa, with 63K Oz gold and 29.9 K Oz silver. Total cash costs and all-in sustaining cash costs were $440 and $581 per gold equivalent ounce, respectively. Their guidance for 2016 is to reach 51.5 K Oz Au and 37.5 K Oz Ag production.

Metates Reserves table1

On Development.  Chesapeake Gold Corp reported an updated Pre-Feseability Study (PFS) on its Metates project in the sierra Madre of Durango. The plan is to start with a 30 K tons/day process to be escalated to 90 K tons/day by the fifth year, with a 27 year mine life plus 10 years of low grade stockpile ore process. The ore reserves hold 18.3 M Oz Au, 502 M Oz Ag and 4 B pounds Zn, and maximum production rate of 700K Oz Au/year, at a cash cost of US $628 Oz/Au.

In the image below, coarse grained milky quartz veinlets cutting through a shear zone. Tajitos, Sonora.

Shear zone cut by deformed quartz veins

Gold Resources in the Altiplano

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altiplano_au con logo

Although the Mexican Altiplano is better known as a silver region, it is also host of important gold resources. Gold resources exist in several mineralization styles in the Altiplano, such as low & intermediate sulphidation epithermal, carbonate replacement, skarn, porphyry Cu-Au, and VMS deposits. Two of the biggest gold deposits present in this mining region are the recently discovered Goldcorp´s Peñasquito and Camino Rojo deposits in Zacatecas State. To date, the Altiplano hosts published resources (all inclusive) for over 53 million ounces of gold, of which 40.8 million occur in intermediate sulphidation epithermal deposits, making these the most relevant gold mineralization style in this mining friendly region of Mexico.

Almost half of the total gold resources are contained in two giant deposits: Peñasquito and Camino Rojo of Goldcorp with published resources for over 26.3 M Oz Au. These deposits are followed by Argonaut´s El Castillo Mine and Fresnillo´s Lucerito deposit with over 3.2 M Oz Au and 2 M Oz Au respectively. Other significant deposits with resources between 1-2 M Oz Au are the Fresnillo´s Saucito and Fresnillo Mines of intermediate sulphidation epithermal affinity, and Primero´s porphyry Cu-Au deposit San Anton-Cerro del Gallo, with over 1.6 M Oz Au each one. Cordero of Levon Resources, the San Nicolas VMS deposit of Teck-Goldcorp and the skarn of La Paz owned by Negociacion Minera Santa María de La Paz y Anexas come next with over 1.4 M Oz Au each one, and Frisco´s El Coronel Mine of lower sulphidation epithermal affinity with over 1.3 M Oz Au. Many deposits with less than 1 M Oz Au from different mineralization styles occur in the Altiplano and are widespread in the region. The Altiplano still has a great potential and is awaiting for mining companies to discover additional resources.

The table below shows tonnages, grades, as well as gold resources (all inclusive) for each of these deposits.

published gold resources in the altiplano

Other ore deposits types with published resources in the Altiplano

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Other ore deposits with published resources that occur in the Mexican Altiplano are Sierra Mojada´s MVT (or CRD?) deposit, Francisco I Madero deposit of SEDEX affinity, the Samalayuca stratiform copper deposit and the VMS deposit of San Nicolas. There is one deposit with published resources (all inclusive) for each of these mineralization styles in the Altiplano.

Bull Silver´s Sierra Mojada deposit is controversial since it has been considered as a MVT deposit, but some authors consider it as a CRD. Ag-Pb-Zn mineralization is related to karst breccias and extensive dolomitization in sedimentary rocks of Cretaceous age. It also occurs as stratabound mantos and disseminations. Sierra Mojada has published resources (all inclusive) for over 91.1M Oz Ag, 56.5 M Lb Cu, 398.8 M Lb Pb, and 3.6B Lb Zn.

Francisco I Madero deposit, owned by Peñoles is a SEDEX occurrence overprinted by skarn mineralization. The SEDEX consists of several mantos and disseminations hosted by a thick calcareous-pelitic sequence characterized by an extensive halo of pyrite-pyrrothite with clay, chlorite, epidote and some magnetite. Francisco I Madero has published resources (all inclusive) for over 26 M Oz Ag, 65 M Lb Cu, 631 M Lb Pb, and 1.9B Lb Zn.

VVC Exploration Corp´s Samalayuca property is a sediment-hosted copper mineralization associated with Jurassic (?) sandstones. Samalayuca has published resources (all inclusive) for over 765K Oz Ag and 42.5M Lb Cu.

Teck´s San Nicolas deposit is a VMS deposit hosted by an assemblage of marine volcanic and sedimentary rocks of Upper Jurassic- Lower Cretaceous age known as the Chilitos Formation. San Nicolas has published resources (all inclusive) for over 1.45M Oz Au, 84.8 M Oz Ag, 2.8B Lb Cu, 3.6B lb Zn.

The table below shows tonnages, grades, as well as gold, silver, copper resources, lead, and zinc (all inclusive) for each of these deposits.

resources in other ore deposits that ocurr in the altiplano