The 97-sq.-km project is in the San Javier mountain range, 140 km southeast of the city of Hermosillo in Sonora state.
Highlights of seven holes drilled at Golfo de Oro include: 4.2 metres grading 3.17 grams gold per tonne, and in the same hole, 2.6 metres grading 5.56 grams gold per tonne; half a metre grading 24.5 grams gold; and 3.0 metres of 3.6 grams gold.
In 1996, Micon International estimated the Golfo de Oro deposit contained a resource of 2.8 million tonnes grading 3.4 grams gold per tonne, or 300,000 contained ounces. The calculation was based on a gold price of US$375 per oz., without allowance for mining recovery or dilution, and on a cutoff grade of 1-2 grams gold per tonne, depending on the depth of the ore.
Gold is hosted by structurally controlled, pyritic, carbonate-altered breccia in an area underlain by sedimentary rocks, igneous intrusions, and local volcanic rocks interbedded with sediments. Centenario and Golfo de Oro lie along the Realito structural trend.
Five holes were drilled into Centenario, resulting in intercepts in one hole of 9.7 metres grading 3.87 grams gold per tonne, including a 3-metre intercept of 6.73 grams gold. Another hole returned 25.9 metres grading 3.19 grams gold, including 2.4 metres of 5.98 grams gold.
The San Antonio project also hosts the Luz del Cobre copper deposit.
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