Two main targets have been developed on the 1,250-ha property: the San Marcial silver zone and the Las Cuadrillas gold zone.
San Marcial consists of two parallel veins, which were previously mined illegally. Three adits driven on different levels, spanning a vertical distance of about 100 metres, were used to gain access to the vein system. The amount of ore mined from this zone is unknown, though it is believed to be in the vicinity of 10,000 tonnes.
Gold-Ore acquired the San Marcial property from a privately owned Mexican company and can earn a 100% interest by spending US$600,000 on exploration and paying US$630,000 in cash over four years. The property is subject to a 3% net smelter return royalty.
The junior explorer has targeted two areas at the San Marcial silver prospect, namely San Marcial Southeast and San Marcial Northwest. These are separated by about 250 metres.
Geologically, the area represents an extensive erosional window through younger, unmineralized, mid-Tertiary-aged, silicic ignimbrite volcanics. The underlying exposed rocks are a sequence of andesitic volcanics that commonly host most of Mexico’s epithermal vein-type precious metal deposits.
Trenching at the property has returned encouraging silver grades from channel sampling. Highlights of results from the southeast zone are as follows:
– Trench 9 — This trench yielded 155 metres grading 55 grams silver per tonne, with a higher grade core that ran 174 grams silver over 30 metres. The 230-metre trench is 50 metres below, and 70-150 metres southeast of, trenches 1 and 2.
– Trench 1 — This trench intersected 35 metres (true width) grading 192 grams silver, including a 13-metre section (true width) that returned 258 grams silver.
– Trench 2 — This trench cut 40 metres (true width) grading 193 grams silver, including a 20-metre interval (true width) of 326 grams silver.
The three contour trenches expose a highly leached cone-shaped zone of brecciated and fractured volcanic rock. Assays from all the trenches indicate that the silver occurs in a wide envelope of bulk-grade mineralization that surrounds a higher-grade core.
Two new zones
Also, two new breccia zones have been discovered in the Southeast zone, 125 metres south and 150 metres vertically below trench 9. These highly altered breccias, dubbed Arroyo Esperanza and Rio Rayado, assayed up to 26 grams silver. Gold-Ore says that if these breccias are related to the mineralized system found in the overlying trenches, then the Southeast zone would measure 400 by 350 metres, and 150 metres vertically.
The Southeast zone will be diamond-drilled for silver mineralization beneath the oxide cap, as soon as Gold-Ore can arrange financing for a 10-hole program.
In the San Marcial Northwest zone, silver occurs as disseminated mineralization similar to the Southeast zone. However, the volcanics in this zone are highly leached and chloritized. Current dimensions of the zone are estimated to be 90 by 75 metres. Trench 3 on this zone assayed 196 grams silver over its entire 190-metre length. The true width of mineralization is estimated at 75 metres. This intersection included a 45-metre section (true width) that assayed 402 grams silver.
Also, three small hand trenches were dug across the central portion of the San Marcial vein system, partially exposing the hangingwall and footwall zones. Chip and grab samples from these zones returned the following results:
– Trench 6, which sampled the hangingwall, intersected 15 metres (true width) grading 274 grams silver, including a 5-metre section of 332 grams silver. The mineralization remains open in both directions.
– Trenches 7 and 8 sampled the footwall section. Trench 7 returned no significant assays, though trench 8 cut 10 metres (true width) grading 32 grams silver. Mineralization remains open in both directions.
A less developed area is the Las Cuadrillas gold zone, 1.2 km northwest of the San Marcial property. Samples from two hand trenches in oxidized volcanic rocks indicate anomalous gold values. Highlights include 2.5 metres grading 1.16 grams gold, and 27.5 metres of 2.95 grams gold.
At last report, the company had 9.6 million shares fully diluted and $60,000 in its coffers.
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