The Corrales property is roughly 8,200 hectares in size and is located in southern Chihuahua state. Topography is moderate and access and infrastructure is ideal. There has been no modern exploration work of any kind completed on the property.
At the Corrales property, oxidized zinc-lead-copper-silver mineralization is hosted by flat lying limestone locally cut by small pipe-like bodies of rhyolite. The mineralization as currently known, occurs within a zone of alteration approximately 1,200 meters long and up to 300 meters wide, at the edge of an extensive area of pediment cover. This zone is open to expansion in three directions.
Previous sampling conducted by the Company resulted in the mineralization at Corrales locally graded up to 7% combined zinc-lead, +1% copper and as much as 500 grams/tonne (15 oz./ton) silver and is typical of an exposure of high level, polymetallic, carbonate replacement type deposits.
The Company will complete an induced polarization, geophysical survey in order to more fully understand the size and geometry of the mineralized system at depth. The results of this work will allow optimization of targets for drilling. The geophysical work is expected to be completed in approximately three weeks and will be followed by a program of core drilling.
The Santa Teresa property comprises approximately 8,000 hectares and is located in south-eastern Coahuila state, roughly 120 km NNW of the capital city of Saltillo. Access and infrastructure are good and although there is extensive evidence of artisanal mining, no modern exploration has ever been carried out on the many known mineral occurrences. These workings expose a number of polymetallic (zinc-lead-silver) carbonate replacement type mineral occurrences as well as sediment hosted (kupferschiefer-type) copper-silver showings.
The property covers a strike-length of 20 km. of a north-westerly trending package of Lower Cretaceous sedimentary rocks and hosts more then 40 mineral occurrences, many of which have been explored by extensive, artisanal, underground workings. Most of these showings are of carbonate replacement type (Zn-Pb-Ag) and are hosted by the La Mula Formation. However, at least 8 are hosted by the underlying red and gray sandstones of the Patula Formation, are of sediment- hosted, (kupferschiefer-type) and consist of copper-silver mineralization. Previous sampling conducted by the Company showed that in places there appears to be a mixing of the two types producing significant zinc-lead-copper-silver values (+10% combined zinc-lead, +1% copper and up to 300 grams/tonne silver). In addition, locally highly anomalous vanadium (+1%) and gallium (+350 grams/tonne) values have been encountered.
The Company will complete the detailed geological mapping of a number of the mineral occurrences, before carrying out induced polarization surveys on selected parts of the property.
Geological mapping began on the property on February 10, 2010 and is expected to be completed in approximately one month. This will be followed by geophysical surveys (I.P.) to outline targets for an initial program of core drilling in May or June of 2010.
The Company has been investigating this area as a source for property acquisitions since the region has been less active than other parts of northern Mexico. The region hosts such deposits as Reforma and Sierra Mojada and is relatively close to the Torreon smelter. The Company will continue to identify additional prospective targets and will report on them as opportunities develop.
The technical data in this news release has been reviewed and approved by James M. Dawson, P.Eng., Consultant to the Company who is a qualified person under the definition of National Instrument 43-101.
For additional information please contact Gary Freeman at 604-682-4750.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release.
Forward-Looking Statement Cautions:
This press release may contain certain “forward-looking statements” within the meaning of Canadian securities legislation, including statements regarding the Company’s planned 2019 exploration program for its Pine Pass project. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are statements that are not historical facts; they are generally, but not always, identified by the words “expects,” “plans,” “anticipates,” “believes,” “intends,” “estimates,” “projects,” “aims,” “potential,” “goal,” “objective,” “prospective,” and similar expressions, or that events or conditions “will,” “would,” “may,” “can,” “could” or “should” occur, or are those statements, which, by their nature, refer to future events. The Company cautions that Forward-looking statements are based on the beliefs, estimates and opinions of the Company’s management on the date the statements are made and they involve a number of risks and uncertainties. Consequently, there can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Except to the extent required by applicable securities laws and the policies of the TSX Venture Exchange, the Company undertakes no obligation to update these forward-looking statements if management’s beliefs, estimates or opinions, or other factors, should change. Factors that could cause future results to differ materially from those anticipated in these forward-looking statements include the risk of accidents and other risks associated with mineral exploration operations, the risk that the Company will encounter unanticipated geological factors, or the possibility that the Company may not be able to secure permitting and other governmental clearances, necessary to carry out the Company’s exploration plans, and the risk of political uncertainties and regulatory or legal changes in the jurisdictions where the Company carries on its business that might interfere with the Company’s business and prospects. The reader is urged to refer to the Company’s reports, publicly available through the Canadian Securities Administrators’ System for Electronic Document Analysis and Retrieval (SEDAR) at www.sedar.com for a more complete discussion of such risk factors and their potential effects
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.