Golden Temple bags Mexican discovery

Vancouver-based Golden Temple Mining (GTM-V) has acquired a Mexican property covering a new massive sulphide discovery in a region not previously explored for this deposit type.

The 3,198-ha Dios Me Ayuda property is near Minatitlan in southwestern Jalisco state, near the border with Colima state. Recent prospecting has identified massive sulphide mineralization over a strike length of at least 2.5 km. The exposures measure up to 15 metres in thickness, though some folding is evident.

The exposed mineralization consists of massive pyrite and barite, with minor amounts of sphalerite. The shale host rock is underlain by a felsic volcanic breccia believed to be Cretaceous in age. This stratigraphy hosts high-grade polymetallic deposits in mining districts to the north, as well as the producing Rey de Plata deposit (operated by Penoles), to the south.

The Dios Me Ayuda property has never been explored. Golden Temple plans to perform geochemical sampling, mapping and geophysics, which will be followed by trenching and drilling once the best targets have been identified.

The company can acquire a 100% interest in the core project by paying US$150,000 over five years.

The junior company has other properties in Mexico, including El Gordo in Guanajuato state. Noranda (NOR-T) optioned the ground last year and can earn up to a 70% interest by spending $12 million on exploration and paying $500,000 over seven years. The property is being explored for massive sulphide mineralization.