Chiapas

Minaurum Options La Quintera Silver Project in the Sierra Madre Silver Belt

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http://www.newsfilecorp.com/release/22537/Minaurum-Options-La-Quintera-Silver-Project-in-the-Sierra-Madre-Silver-Belt#.V9gmWCjhDIU

Vancouver, British Columbia–(Newsfile Corp. – September 13, 2016) – Minaurum Gold Inc. (TSXV: MGG) (“Minaurum”) is pleased to announce that it has entered into an option agreement to earn a 100% interest in the La Quintera Silver Project (“Quintera”) in the historic Alamos District in Sonora, Mexico from a private Mexican vendor. Quintera encompasses a number of wide, high-grade epithermal veins with significant historical production. The project has seen little modern exploration and has never been drilled.

Quintera covers 4,698 hectares and is located 8km west of Alamos, 45km northwest of Pan American’s Alamo Dorado silver mine, and 15km south of Cobre Del Mayo’s Piedras Verdes copper mine. Quintera hosts excellent infrastructure and is fully permitted from exploration through to production.

The Quintera Project, which includes the Promontorio, La Quintera, La Aduana, and Minas Nuevas mines, is estimated to have produced more than 120 Moz of silver from about 1680 to the early 1900s. Vein widths average 4m but locally range up to 20m. The primary target vein has a strike length of 3.5km and the entire vein system measures more than 7 km long. Historical records of selective mining indicate grades of over 2,000 g/t Ag were recovered using a cut-off grade of 1,000 g/t Ag.

Low sulfidation deposits in veins in the Sierra Madre del Sur

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The Sierra Madre del Sur might be best known for its skarn gold deposits, but the extent of Tertiary vulcanism has brought its share of epithermal deposits. Those are distributed extensively across the region, and to date in three have been delineated resources.
The San Jose Mine of Fortuna Silver in Oaxaca has the biggest resource base, with over 640 K Oz Au and almost 90 million Oz Ag, at an average grade of 1.7 g/t Au and 235 g/t Ag. The Higo Blanco project of Aura Silver Resources, and Fresnillo’s San Nicolas project also host resources with similar grades, but up to now what has been defined so far is not as significant. There are plenty of low sulfidation vein prospects and projects in the region.
The numbers we manage are largely from technical reports, company’s websites or yearly filings to the stock exchange, most to the end of 2014.

 

Table Low Sulfidation deposits in veins, Sierra Madre del Sur.j1

Mineral Deposit Types in the Sierra Madre del Sur

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Stretching for 1,300 km in longitude and 100 to 300 km in width, the Sierra Madre del Sur mining region of Mexico has a complex geologic history. Within this complexity many types of ore deposits have formed, some of which have shown economic viability.
Of the deposit types with published resources skarns are the most conspicuous, due to the successful exploration effort that culminated with the definition of several millions of ounces of gold in the recently discovered and developed Guerrero Gold Belt. Other deposit types with resources include Low sulfidation epithermal veins, Low sulfidation epithermal deposits in disseminations, breccias and stockworks, Intermediate sulfidation in veins, Intermediate sulfidation epithermal deposits in disseminations, breccias and stockworks, Volcanogenic massive sulfides (VMS) and Porphyry copper deposits.
There are also at least two deposit types that are known to exist in this region without producing yet a resource calculation: Orogenic gold and High sulfidation epithermal deposits. There are several known properties of both styles ranging from Chiapas to Michoacan, so our guess is that it is just a matter of time before some resources are defined in these styles of deposits.

The image below is a slide from a presentation on the Sierra Madre del Sur, depicting the number of deposits of each style in the region with published resources.

Tipos de Depósitos1

Millrock Announces Private Placement Financing

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http://www.canadianminingjournal.com/press-releases/story/?id=1003727758

Millrock Resources Inc. (TSX VENTURE:MRO) (“Millrock”) announces that it plans to raise gross proceeds of up to $700,000 through the sale of 4,375,000 units (the “Units”) priced at $0.16 per Unit. Each Unit consists of one common share and one share purchase warrant (the “Warrants”). Each Warrant will entitle the holder to purchase one additional common share at a price of $0.22 per common share until and including the date which is one year from the closing date, thereafter at a price of $0.30 per common share until and including the date which is two years from the closing date and thereafter at a price of $0.40 per common share until and including the date which is four years from the closing date. Millrock expects to pay finder’s fees in connection with this financing. The securities issued under this financing will be subject to a hold period of four months from the closing date. Millrock intends to use the proceeds for a series of specific property acquisitions and for general corporate purposes. This financing is subject to receipt of TSX Venture Exchange acceptance.