Mexico’s Best Drilling Intercepts, Fourth week of April 2024

Atacama Copper and Gatos Silver released results from drilling on their Mexican properties, both of which appear to present intermediate sulfidation epithermal mineralization. Atacama Copper results are from 1,347 m of drilling on its first five holes of a 40-50 drill program at the Cristina project in southeastern Chihuahua. The Cristina project presents multiple quartz veins, frequently greater than 10 m in width and extend for at least a five-kilometre strike length, with four parallel mineralized vein zones having been mapped and sampled to date. Most of the existing mineral resource estimate at Cristina is contained within the Guadalupe vein. “The Cristina deposit is an epithermal to mesothermal vein system where the mineralisation is predominantly gold and silver, with lesser base metal values”. Four parallel vein zones are hosted in an andesitic volcanic sequence, in which the andesites are intercalated with dacitic intrusions and related lava flows and breccias. The sequence is in turn cut by porphyry bodies following fault trends.

Gatos Silver presented results from drilling at its Cerro Los Gatos property in the foothills of the Sierra Madre. Most of the results are from resource definition definition drilling on the SE Deeps zone. “The SE Deeps mineralization extends approximately 1km laterally and 400m vertically, which adjoins the existing SE mineral reserve and remains open along strike. Since Q2 2023 drilling has focused on infilling the higher-grade areas of the SE Deeps zone to 50m spacing. We have completed 66,300m of diamond drilling since the cutoff date for the 2023 Reserve and Resource Update”. The project encompasses more than 103,000 hectares with over 50 exploration targets, of which San Luis, Lince, La Paula, San Agustin and Portigueño have been prospected, mapped and sampled during the quarter. The greenfield exploration drilling results are from two holes at the Portigueño zone (two km SE from Cerro Los Gatos), where they intercepted good widths of brecciation, alteration and mainly calcite veining, with anomalous Au, Ag, Cu, Pb, Zn grades.