EL RUBI ESPERANZA PROJECT Sonora Mexico CONTACT jcirettprodigy
EL RUBI – ESPERANZA PROJECT Sonora, Mexico (CONTACT: jcirett@prodigy. net. mx)
KEY FACTS USA Sonora • • El Rubi – Esperanza Project Privately owned Known as “La Virginia” by Minefinders and Pan American Silver Low sulfidation epithermal system Optioned by Minefinders in 2007, bought with the company by Pan American Silver in 2012 Over 188 drillholes Hearsay: Over 200 K Oz Au were defined Pan American Silver seems open to negotiate the data MEXICO
LOCATION USA Cerro Magallanes Sonora SIERRA MADRE PRECIOUS METAL BELT Chihuahua Mesa de Plata El Tigre El Rubi - Esperanza El Rubi – Esperanza is located on the Sierra Madre precious metal belt, host to many large gold and silver epithermal deposits An ideal location for exploration of Multi Million Oz Au-Ag deposits Lampazos Dolores La India Mulatos Pinos Altos
HISTORY OF PREVIOUS DEAL • • In 2007 Minefinders field checked the area, as part of their helicopter borne program to identify other targets like Dolores The Dolores model involves a low sulfidation epithermal system associated to rhyodacitic dikes cutting through andesitic volcanic rocks of the Lower Volcanic Group The El Rubi – Esperanza area fits the model, after conducting helicopter based sampling they decided to option the properties and stake ground Minefinders optioned the El Rubi and Esperanza concessions, and staked additional ground
HISTORY OF PREVIOUS DEAL • • In January 2012 Pan American Silver bought Minefinders, including the La Virginia Project Pan American continued definition drilling on El Rubi-Esperanza from 2012 to 2014 In late 2014 returned the El Rubi concessions In late 2016 returned the Esperanza concession
MINING CONCESSIONS • The land package offered covers over 2, 100 ha • Pan American Silver still retains a large land position, and seems willing to negotiate
MINING CONCESSIONS Open Pan American Silver El Rubi/Esperanza 8. 5 km
El Tigre LOCATION OF NEARBY PROPERTIES El Rubi - Esperanza is located in the Sierra Madre, which hosts published resources of over 69 M Oz of gold in 47 deposits, 23 of which are of epithermal low sulfidation affinity El Rubi/Esperanza The project is between the Dolores mine, in Chihuahua (2. 2 M Oz Au, 80 M Oz Ag), and El Tigre project in Sonora (350 K Oz Au, 24 M Oz Ag), 90 km from each Lampazos Dolores
GEOLOGIC OVERVIEW Dikes Thick felsic – intermediate volcanic rocks sequence, dominated by felsic tuffs an andesitic flows intruded by rhyodacitic dikes
MINERALIZATION Mineralization is often associated to the rhyodacitic dikes, with quartz stockworks developing in the dikes or in the adjoining wallrocks
GOLD ON ROCK SAMPLES Good surface geochemistry, with gold up to 110 g/t at El Rubí zone, 36 g/t Au at Campo Santo, 16. 8 g/t Au at Convirginia, 1. 55 g/t Au at Pinos Altos, 1. 7 g/t at Las Huatas and 0. 3 g/t Au at La Colonia (Samples on Esperanza concession by J. Cirett)
SILVER ON ROCK SAMPLES Good surface geochemistry, with silver up to 6, 720 g/t at El Rubí, 943 g/t ppm at Campo Santo, 1, 530 g/t at Convirginia, 558 g/t at Pinos Altos, 73 g/t at Las Huatas and 99 g/t at La Colonia Las Huatas vein, 4 m wide on the road to Mesa de Tres Ríos
DRILLING • • • At least three drilling campaigns by Minefinders and Pan American Silver Over 188 holes, according to sequential numbering 94 holes with more than 23, 500 m of drilling on El Rubi concessions, unknown numbers on the Esperanza concession Pan American holds all the core, and the drill data on Esperanza The drilling data on El Rubi was returned to owner
DRILLING AND RESOURCES Definition drilling on 100 m centers CONVIRGINIA LAS HUATAS Heresay is: Two oreshoots with more than 200 K Oz Au defined at Las Huatas and Convirginia
PUBLIC RESULTS (On Esperanza claim) Las Huatas Zone Convirginia Zone
DRILLING HIGHLIGHTS (Whithin El Rubi claims)
EL RUBI - ESPERANZA property overview / Prospective Zones El Rubi Campo Santo Six prospective zones within the concessions: • • • El Rubi Campo Santo Convirginia Las Huatas Pinos Altos La Colonia Convirginia Las Huatas La Colonia Pinos Altos
EL RUBI ZONE The largest rhyodacitic plug in the project, intruding andesitic flows Up to 110 g/t Au and 6, 700 g/t Ag Over 200 m of strike length with bonanza grade samples on surface Only minor prospecting by Mine finders, Pan American Silver did not work in this area No drilling!
CAMPOSANTO ZONE Complex set of dikes, wide stockwork zone Up 10. 8 g/t Au and 360 g/t Ag on surface, 0. 5 m @ 36 g/t Au and 943 g/t Ag on underground working Several subsidiary structures with anomalous geochemistry 6 drill holes Best intercept : 2 m @ 6. 4 g/t Au
CONVIRGINIA ZONE Wide swarm of rhyodacitic dikes into andesitic flow unit Wide zones of stockwork quartz veining Up to 16. 8 g/t Au and 1, 500 g/t Ag on surface 32 holes, results include 18 m @ 1 g/t Au, 96 g/t Ag, 1. 8 m @ 11. 7 g/t Au, 34 g/t Ag; 1. 45 m @ 9. 4 g/t Au, 1, 358 g/t Ag; 1. 45 m @ 7. 8 g/t Au, 1, 055 g/t Ag; 0. 95 m @ 8. 3 g/t Au, 198 g/t Ag, etc.
CONVIRGINIA DRILLING RESULTS 182 c 177 c 170 c 171 c 168 c 18. 1 m @ 1 ppm Au, 96 ppm Ag 166 c 173 c 174 c 175 c 188 c 134 c 135 c 136 c 160 c
LAS HUATAS ZONE Minor rhyodacitic dikes into andesitic flow unit Up to 1. 7 g/t Au and 73 g/t Ag in surface 49 drillholes. Results include: 2. 55 m @ 13. 8 g/t Au, 218 g/t Ag, 2. 8 m @ 1 g/t Au, 81 g/t Ag; 2. 1 m @ 0. 8 g/t Au; 1. 95 m @ 1. 3 g/t Au, 29 g/t Ag
PINOS ALTOS ZONE Minor rhyodacitic dikes into intermediate and felsic volcanic rocks sequence Up to 4. 3 g/t Au and 558 g/t Ag on surface 4 drillholes. Up to 0. 85 m @ 3 g/t Au, 23 g/t Ag; 0. 75 m @ 1. 14 g/t Au and 0. 70 m @ 1. 0 g/t Au Favorable structures over 1. 5 km long, plus anomalous arsenic and antimony on rock grid sampling
LA COLONIA ZONE Possibly a down-dropped block along the basin and range fault, exposing an upper level of the epithermal system Interpretation supported by spotty gold and silver values, as well as shallow epithermal elements like antimony and arsenic and argillic alteration
OTHER STRUCTURES Only the most evident mineralization has been explored Other non-explored structures Convirginia Structure
OTHER EXPLORATION OPPORTUNITIES Pan American Silver ground (in yellow) has not been thoroughly explored, Minefinder’s did exploration with prospectors, not geologists, on the area All the exploration effort by Pan American was concentrated on definition of a resource, no prospecting, mapping or rockchip sampling was carried by them outside the drilled area on the outer claims 40 Km
REGIONAL EXPLORATION MODEL Thick felsic – intermediate volcanic rocks sequence, dominated by felsic tuffs an andesitic flows Intruded by rhyodacitic dikes
REGIONAL EXPLORATION Prospective Belt > 200 km long x 70 km in width, with favorable volcanic rock formations El Tigre Multiple alteration zones from SGM 250 K geologic sheets strength the case for an unexplored stretch of the prolific Sierra Madre Belt El Rubi - Esperanza Dolores
REGIONAL EXPLORATION El Tigre As a neglected exploration area, mining concessions cover only a limited amount of land Multiple areas of alteration in ground open for staking El Rubi - Esperanza Dolores
STRONG POINTS • • • 2, 102 Ha consolidated claim package in a very prolific mineral belt Easy access, paved road within 15 km of the property Government maintained dirt road crosses the property The area has seen mining in the past Low population density - lesser probability of community issues Multiple targets within the concessions Favorable dacitic dikes mapped for more than 9 Km High grade gold-silver drill intercepts in mineable widths (0. 8 – 18. 0 m) Mineralization has more than 500 m of vertical span Hearsay resource of > 200 K Oz Au. Eq in two ore shoots WEAK POINTS • Hearsay resource relatively small, 200 – 250 K Oz Au. Eq • Pan American Silver envelops the El Rubi – Esperanza claims, and has not confirmed on what terms might option the ground • Pan American Silver has not stated what it wants for the core and drilling information • No metallurgy study yet
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