Valdez acquires more Mexican claims (January 17, 1994)

Minera Valdez Gold S.A. de C.V., a wholly owned subsidiary of Valdez Gold (ASE), has staked additional ground in Sonora state, Mexico.

The 177-sq.-mile property, known as Marisa, adjoins the company’s Diana I and II properties which were acquired this fall.

The eastern portion of Marisa has the potential to host both placer- and lode-style gold mineralization. Several old workings, including one that dates to Spanish times, are present.

The western portion is underlain by limestones which have been intruded by Laramide-aged granites. The limestone sequences have excellent potential for epithermal, Carlin-type gold mineralization. Several skarn and porphyry copper prospects are known to occur in this area.

Exploration is under way on the entire Valdez holdings, which cover more than 411 sq. miles. This program will focus on evaluating known prospects which can be advanced to the drilling stage.

Valdez is negotiating financing for the work.