Alamos
Project
Alamos
Commodity
Primary: Silver
Secondary: Gold, Copper, Lead, Zinc
Location
Southern Sonora
Nearest City
8 km west of city of Alamos
Nearest Major Mining Projects
45 km Northwest of Pan American's Alamo Dorado silver mine
15 km South of Cobre Del Mayo's Piedras Verdes copper mine
Drilling
Phase I - 18,810 m, 40 hole drill program complete
Phase II - 20,000 m drilling program underway
Geology
Epithermal vein system
Land Package
37,317 has
Exploration Highlights
Hole AL 17-07
8.25 m of 1,760 g/t (57 opt) Ag, 1.6% Cu, 1.5% Pb, and 2.6% Zn incl. 2.2 m of 5,098 g/t (164 opt) Ag, 2.76% Cu, 0.5% Pb, and 1.18% Zn
Hole AL 17-04
20.15 m of 154 g/t Ag, 0.5% Cu, 2.3% Pb, 6.8% Zn; or 694 g/t AgEq
Hole AL19-018
0.95 m of 425 g/t Ag, 0.32% Cu, 3.17% Pb, 1.31% Zn or 622 g/t AgEq
Hole AL19-025
3.80 m of 415 g/t Ag, 2.68 g/t Au, 1.37% Cu, 6.20% Pb, 9.19% Zn or 1,430 g/t AgEq* incl. 0.95 m of 1,566 g/t Ag, 6.72 g/t Au, 4.48% Cu, 9.27% Pb, 10.08% Zn or 3,321 g/t AgEq
Hole AL 20-042
3.50 m of 404 g/t Ag, 0.54% Cu, 1.30% Pb, 1.81% Zn incl. 1.15 m of 999 g/t Ag, 1.29% Cu, 2.98% Pb, 2.98% Zn
Hole AL 20-046
5.1 m of 769 g/t Ag, 0.76% Cu incl. 3.1 m of 1,197 g/t Ag, 1.38% Cu
Hole AL 20-047
6.35 m of 356 g/t Ag, 0.39% Cu, 0.42% Pb, 0.57% Zn incl. 0.70 m of 2090 g/t Ag, 1.98% Cu, 2.51% Pb, 2.43% Zn
Access & Infrastructure
Paved and gravel roads, mining labour force, power and water
Project Interest
Under option to acquire up to 100% interest
Project
The Alamos silver project contains a wide, high-grade epithermal vein system hosted by Cretaceous limestone, Laramide batholith and Tertiary volcanic rocks which historically produced approximately 200 Moz of silver from three separate mines. Historic reports indicate mine widths of up to 20m grading in excess of 2,000 g/t Ag and 3-4% Copper. Silver-bearing veins in the Sierra de Alamos were first discovered by Spanish miners around 1682. The district produced an estimated minimum 120 million ounces of silver from the 1680s to the early 20th century, with the great majority of production from the Promontorio, La Quintera, and Zambona (Minas Nuevas) mines. In the latter part of the 19th century, silver production from the district supported a mint in the nearby town of Alamos. Mining activities diminished just before and during the 1910-1920 Mexican Revolution, with the Zambona mine shutting down by 1925. Various operators attempted to revive the mines during the 20th century, but with only minor production, mostly from the re-working of mine dumps.
Recently acquired historical data including mine maps, sections and results of 40 holes (6,099 m) drilled in multiple surface and underground exploration campaigns that occurred from the 1960s through the early 1980s at its Alamos silver project in Sonora, Mexico. The exploration programs were focused on the historic Promontorio and Minas Nuevas underground mines that closed in 1898 and 1912. The majority of these historic holes cut broad widths of high-grade silver, the best include: Hole U-3 that cut 4.6 m grading 2,838 g/t (82.8 oz/t) silver and Hole U-5 that cut 11.3 m of 785 g/t (22.9 oz/t) silver. The drill results indicate that the historically mined deposits included multiple veins and continue at depth both down plunge and along-strike. At Promontorio, drill holes intersected mineralization over 50 m below the historic mining level and indicate an aggregate 735 m strike length of mineralization. It is estimated that 200 million ounces of silver were mined from the Quintera, Promontorio and Minas Nuevas mines (please see News Release February 6, 2020).
Prior to Minaurum, the project had never been controlled by a single company nor seen modern exploration. Minaurum commenced the first systematic exploration program over the district, consisting of a Phase I drill program totaling 18,810 m in 40 holes, resulting in the identification of over 16 new vein systems with a total of 26 vein systems identified. Fourteen of the nineteen vein systems drilled returned high-grade silver intercepts demonstrating that mineralization occurs throughout a 10 km-long by 6 km-wide corridor.
Alamos hosts excellent infrastructure with the central area (Quintera-Promontorio vein system) permitted from exploration through to production. The project is 8 km west of the city of Alamos, 45km northwest of Pan American's Alamo Dorado silver mine, and 15 km south of Cobre Del Mayo's Piedras Verdes copper mine. The total size of the project is 37,317 hectares.
Project terms include cash and share payments including i) CDN $2,600,0000 in cash ii) 6,000,000 Minaurum shares and iii) incur CDN $3,000,000 in exploration expenditures.
Geology
Upper Jurassic–lower Cretaceous limestone is the oldest known lithologic unit in the Alamos district. Late Cretaceous-early Tertiary batholithic granodiorite intrudes the limestone, subjecting it to extensive recrystallization and skarn-hornfels alteration. A several hundred metre-thick sequence of Tertiary andesitic lavas and coarse agglomerates overlies the limestone-granodiorite basement package. Bedded pyroclastic rocks overlie the lava/coarse agglomerate group. These are andesitic in the lower part and their upper part is composed of a thick rhyolite ignimbrite.
Granitic, monzonite, and dacite-porphyry stocks and intermediate to felsic dikes cut the basement and volcanic rocks.
Northwest/southeast and north-northeast/south-southwest faults and fractures dominate the structural grain of the Alamos district. The NW/SE faults appear to be older than the NNE/SSE faults. The NNE/SSE faults bound a series of horsts and grabens, form striking topographic linears and form the host structures for most of the known precious metal mineralization. These structures host all of the significant past producing mines. Both sets of faults appear to have been periodically reactivated. Cobre del Mayo’s Piedras Verdes porphyry copper mine lies about 16 km to the NNE of the central part of the Alamos district, along the projection of the +main fault trend.
Low-sulfidation silver and base-metal mineralization occurs in epithermal veins emplaced along the NNE-SSW striking fault zones and within fault-bounded blocks. Multiple phases of vein emplacement and fault movement are evidenced by cross-cutting veins and breccias. Historically mined high grade mineralization occurs in steeply plunging shoots. Records of the La Quintera mine show that the mined shoot plunged steeply to the southwest for more than 450 m. Its horizontal dimensions were approximately 250 m long along strike and up to 20 m thick.
Exploration Methodology
Minaurum Director and Co-Founder Dr. Peter Megaw and VP Exploration, Mr. Stephen Maynard developed a “Piano-Key” faulting model based on the historical mines at Alamos to drive the exploration program at the Alamos project. In this exploration model, faulting generates a series of parallel elongated multi-kilometre long fault blocks that alternate as up and down-thrown blocks. Just like a piano, veins in the high-standing blocks (black piano keys) were eroded to a deep level (as in the historically mined parts of the district) and veins in the down-thrown blocks (white piano keys) were protected from erosion so that narrow stringer veins on surface in the down-thrown blocks may be indications of intact economic veins at depth. This model indicates that the narrow stringer veins seen on the surface throughout Alamos, may just be the upper extreme portions of intact veins lying at depth.
Minaurum's exploration program, analysis and interpretation of the results further explains why production only occurred at the core part of the Alamos project. In the core area (La Quintera and Promontorio), up-thrown blocks had high grade portions of veins exposed on surface leading to their development. Down-thrown blocks to the west and east are exposed on surface at a higher level (or not at all in the case of blind veins). Exposed at a higher level, these veins are spottier or lower grade and as such were not put into production. “Blind” veins were intersected in holes AL17-007 and AL17-008, confirming the “Piano-Key” model of veins with little or no surface expression in down-dropped blocks. See below for photo illustration demonstration the 'Piano-Key' model.
Minaurum’s exploration program has consisted of detailed geological mapping and rock-chip sampling, as well as a core drilling. Minaurum geologists have covered more than 75 sq km with detailed geological mapping and the geochemical database has more than 1500 rock samples. Company geologists have identified 26 vein zones in the Alamos district; surface mapping, sampling, and vein zone identification are on-going.
In the Phase I - 18,000m drill program, Minaurum's strategy was to drill each of the identified vein zones with one to three long (400-600 m) holes drilled at shallow angles across the intervening blocks to maximize chances of cutting the identified zones close to perpendicularly and to maximize the chance of encountering mineralized vein zones in intervening down-dropped fault blocks. The purpose was to prove 'district-scalability' and identify new vein zones outside of the historic area.
The Phase I program proved successful in expanding the mineralized zones and returning high grade silver intercepts. Minaurum's exploration team successfully expanded the Alamos district footprint to 11 km x 6 km or 6,600 hectares, which is only 17% of the total concession package with 83% yet to be systematically explored. Nineteen of the 26 vein zones were drilled with 14 returning high grade silver intercepts.
26 Veins Mapped at the Alamos Project
August 2016
January 2020
Exploration Highlights
Phase I Results
Vein System
Known Strike Length (m)
Best Drill Intercept
Minas Nuevas
1500
17.95 m @ 96 g/t Ag (AL17-001)
Promontorio
1000
20.15 m @ 154 g/t Ag, 0.5% Cu, 2.3% Pb, 6.8% Zn (AL17-004)
3.80 m of 415 g/t Ag, 2.68 g/t Au, 1.37% Cu, 6.20% Pb, 9.19% Zn, or 1,430 g/t AgEq; incl. 0.95 m of 1,566 g/t Ag, 6.72 g/t Au, 4.48% Cu, 9.27% Pb, 10.08% Zn, or 3,321 g/t AgEq (AL19-025)
San Jose
2500
9.60 m @ 198 g/t Ag, 0.22% Pb, 0.88 % Zn (AL18-015)
Europa-Guadalupe
2500
8.25 m @ 1,760 g/t Ag,1.60 % Cu, 1.48% Pb, 2.6% Zn 9 (AL17-007)
Nueva Europa
2100
1.20 m @ 542 g/t Ag, 0.28% Cu, 0.44% Pb, 0.88% Zn (AL17-007)
Amalia
980
1.30 m @ 1.73% Pb, 1.99% Zn (AL18-012)
0.25 m of 113 g/t Ag, 150 ppb Au, 0.28% Cu, 2.60% Pb, and 5.74% Zn (AL19-019)
Tigre
1000
0.90 m @ 391 g/t Ag, 0.42% Pb, 0.29% Zn (AL18-012)
Ana
3400
2.85 m @ 25 g/t Ag, 2.29% Pb, 10.58% Zn (AL18-011)
Travesia
880
9.60 m @ 88 g/t Ag, 0.37% Pb, 0.33% Zn (AL17-008)
El Creston
1900
0.20 m @ 20 g/t Ag, 0.85% Cu (AL18-014)
Europa Sur
1000
0.95 m @ 425 g/t Ag, 3.17% Pb 1.31% Zn, 0.50-m interval assaying 719 g/t Ag, 172 ppb Au, 0.57% Cu, 5.92% Pb, and 2.37% Zn (AL19-018 – Europa SW)
Promontorio Sur
1300
31.40 m mineralized zone containing 0.20m interval assaying 304 g/t Ag, 1.41% Cu, 2.5% Pb, 3.36% Zn (AL19-020)
Azulacas
400
13.10 m averaging 119 g/t Ag and 1.37% Zn (AL19-023)
La Quintera
1400
0.50 m of 124 g/t Ag (AL19-017)
Cotera
800
7.60 m @ 155 g/t Ag incl. 2.15 m @ 451 g/t Ag (AL19-035)
Alessandra
1100
6.60 m @ 3.89% combined Cu, Pb, and Zn (AL19-038)
Pulpito
1000
0.20 m @ 367 g/t Ag, 6.75 g/t Au, 1.35% Cu, 0.59% Pb & 056% Zn (AL 19-035)
Phase II Results
Europa-Guadalupe
6.35 m of 356 g/t Ag, 0.39% Cu, 0.42% Pb, 0.57% Zn incl. 0.70 m of 2090 g/t Ag, 1.98% Cu, 2.51% Pb, 2.43% Zn (AL20-047)
3.50 m of 404 g/t Ag, 0.54% Cu, 1.30% Pb, 1.81% Zn in hole incl. 1.15 m of 999 g/t Ag, 1.29% Cu, 2.98% Pb, 2.98% Zn (AL20-042)
Promontorio
5.1 m of 769 g/t Ag, 0.76% Cu; incl. 3.1 m of 1,197 g/t Ag, 1.38% Cu (AL20-046)
2.9 m of 636 g/t Ag, 1.36% Cu, 3.85% Pb, 7.18% Zn (AL20-044)
1.75 m of 144 g/t Ag, 4.15% Pb, 9.10% Zn (AL20-043)
Drill highlights from the Historical Drilling Data at the Promontorio mine include: (only silver and gold were assayed – widths are reported drill thickness)
- 1.2 m of 5,588 g/t Ag (Hole U-1)
- 1.2 m of 1,008 g/t Ag (Hole U -1)
- 4.6 m of 2,838 g/t Ag (Hole U-3)
- 4.6 m of 305 g/t Ag (Hole U-4)
- 1.4 m of 377 g/t Ag (Hole U-4)
- 12.2 m of 710 g/t Ag (Hole U-4)
- 7.6 m of 747 g/t Ag (Hole U-5)
- 11.3 m of 785 g/t Ag (Hole U-5)
- 1 m of 2,177 g/t Ag (Hole U-12)
- 1.2 m of 854 g/t Ag and 23 g/t Au (2,845 g/t AgEq*) (Hole U-15)
Drill highlights from the Historical Drilling Data at the Minas Nuevas mine include: (only silver was assayed – widths are reported drill thickness)
- 1.7 m of 452 g/t Ag (Hole TP-80-08)
- 2 m of 367 g/t Ag (Hole TP-80-09)
- 1.8 m of 839 g/t Ag (Hole TZ-80-01)
*Ag Equivalent value was derived using silver price of $17.99 and gold price of $1,557.10 (Kitco, 15 January 2020).
Exploration Agreements
The Alamos project is situated on land belonging to the ejidos of La Aduana and Tetajiosa and the community of Minas Nuevas. Exploration agreements are in place with all three along with annual rental payments to maintain the agreements.
An Environmental Impact Statement (MIA) was obtained from the Secretariat of Environment and Natural Resources (SEMARNAT) in 2012, to conduct exploration on the La Aduana and Tetajiosa lands. The MIA activities include surface exploration, including sampling and construction of drilling pads, rehabilitation of existing mines for exploration and exploitation purposes, temporary stockpiling of rock material, and haulage of extracted material by truck off-site for process and the recovery of ore.
Part of the Alamos project lies within the Sierra de Alamos – Río Cuchujaqui Reserve, which overlaps ejido lands. Authorization was received from the National Commission of Natural Protected Areas (CONANP) to explore in the Reserve Area. The reserve area land inside the project area is categorized as an “area of sustainable exploitation of natural resources”, which is defined in the reserve area management plan as use that does not negatively affect future generations. A coordination agreement between the Protected Area authorities and SEMARNAT was established in July of 2013 and is valid for the life of the project.
Minas Nuevas Target
Hole
From (m)
To (m)
Interval (m) / ETW (m)
Ag (g/t)
AL17-001
71.95
89.60
17.65 (14.1)
95.9
including
71.95
73.50
1.55 (1.2)
155.0
77.00
78.00
1.00 (0.8)
150.0
80.45
81.45
1.00 (0.8)
279.0
84.45
85.75
1.30 (1.0)
172.0
86.55
89.60
3.05 (2.4)
110.1
AL17-002
76.25
89.30
13.05 (10.4)
53.7
including
85.40
86.90
1.50 (1.2)
181.0
155.55
159.00
3.45 (2.8)
68.1
including
158.55
159.00
0.45 (0.4)
156.3
Blind-Vein/Southern Nueva Europa Target
Hole
From (m)
To (m)
Interval (m)
Ag (g/t)
Au (ppb)
Cu (%)
Pb (%)
Zn (%)
AL17-003
274.90
275.15
0.25
7.7
25
0.01
0.93
2.38
Promontorio Target
Hole
From (m)
To (m)
Interval (m)
Ag (g/t)
Au (ppb)
Cu (%)
Pb (%)
Zn (%)
AL17-004
81.90
102.05
20.15
154.1
234
0.5
2.3
6.8
including
84.10
85.70
1.60
235.6
697
0.5
11.8
20.0
AL17-005
124.00
132.50
8.50
81
129
0.14
3.23
2.72
including
126.05
128.80
2.75
126.7
275
0.15
8.91
5.26
135.35
138.50
3.15
322.3
276
0.47
1.65
3.29
including
135.35
136.35
1.00
557
207.5
0.65
0.77
2.17
Europa-Guadalupe & Nueva Europa Targets
Hole
From (m)
To (m)
Interval (m) / ETW (M)
Ag (g/t)
Au (ppb)
Cu (%)
Pb (%)
Zn (%)
Comment
AL17-006
94.05
110.8
16.75
11.8
11
0.13
0.04
0.05
Gap Vein System
AL17-007
181.1
181.6
0.5 (0.4)
81.1
13
0.92
0.1
0.18
Blind Vein
273.3
274.5
1.2 (0.96)
541.5
16
0.28
0.44
0.88
Nueva Europa Vein Zone
499.1
500.1
1 (0.70)
218
23
0.42
0.33
0.73
Blind Vein
521.55
524.6
3.05 (3.05)
114
4
0.19
0.07
0.22
Europa-Guadalupe Vein System
534.65
542.9
8.25 (8.25)
1,760
58
1.6
1.48
2.6
including
534.65
536.85
2.2 (2.20)
5,098
42
2.76
0.47
1.18
AL17-008
201.30
201.65
0.35 (0.2)
185
16
1.05
2.37
1.44
Blind Vein
229.20
238.80
9.60 (7.7)
88
14
0.24
0.37
0.33
Gap Vein System
including
229.75
232.40
2.65 (2.1)
147
24
0.25
0.21
0.28
San José, Ana, Tigre & Amalia, El Creston, Minas Nuevas Vein Systems
Hole
From (m)
To (m)
Drill Width (m) / ETW (m)
Ag (g/t)
Au (ppb)
Cu (%)
Pb (%)
Zn (%)
AL18-009
126.9
128.55
1.65
21
4
0.19
<0.01
0.02
378.5
401.05
22.55
25
<1
0.03
<0.01
0.06
AL18-010
no significant values
AL18-011
394.1
396.95
2.85 (Unknown)
25
14
0
2.29
10.58
including
395.2
396.95
1.75
40
18
0
3.57
16.54
419.15
422.1
2.95
3
2
0.38
1.72
including
421
422.1
1.1
7
2
0.74
3.23
455.95
457.05
1.1
5
4
0.22
1.71
467.35
467.6
0.25
4
19
0.3
1.84
519.65
520.05
0.4
7
5
0.21
1.19
533.4
535.5
2.1
3
7
0.14
1.14
548.8
549.5
0.7
3
8
0.1
1.57
551.45
551.8
0.35
3
7
0.12
1.16
569.5
570.5
1
2
4
0.21
1.19
578.05
579.35
1.3
4
5
0.14
1.21
AL18-012
123.15
125.3
2.15 (1.7)
1
345
0.01
0.08
0.64
179.15
179.9
0.75 (0.6)
2
21
0.74
2.67
203.75
204.65
0.9 (0.7)
391
17
0.11
0.42
0.29
212.9
213.4
0.5 (1.4)
7
18
0.01
0.1
2.18
466.45
467.75
1.3 (unknown)
7
10
0.01
1.73
1.99
696.15
698.8
2.65 (unknown)
17
17
0.79
1.18
including
697.6
698.45
0.85 (unknown)
41
34
1.6
2.35
AL18-013
12.2
13.7
1.5
<1
323
0.01
0.01
295.35
296.65
1.3
16
11
0.08
0.33
0.42
AL18-014
96.85
97
0.15 (0.1)
1
4
0.01
1
252.35
252.85
0.5 (0.4)
8
56
0.32
0.14
0.23
320.35
320.55
0.2 (0.1)
20
14
0.85
0.03
364.05
364.3
0.25 (0.2)
1
8
0.39
1.04
448
448.35
0.35 (0.2)
<1
1
0.17
1.45
AL18-015
57.75
62
4.25 (10.6)
146
13
0.16
0.52
0.56
including
59.15
60.05
0.9 (3.4)
302
20
0.21
0.49
0.78
and
61.5
62
0.5 (0.4)
171
36
0.36
1.76
1.01
127.6
137.2
9.6 (7.7)
198
24
0.17
0.22
0.88
including
129.1
131.15
2.05 (1.6)
274
41
0.26
0.28
2.6
and
129.1
129.95
0.85 (0.7)
398
21
0.24
0.27
1.73
and
133.2
136.2
3 (2.4)
224
28
0.22
0.24
0.36
180.15
182.15
2 (unknown)
109
8
0.12
0.08
0.13
192.9
196.7
3.8 (unknown)
140
35
0.1
0.99
1.12
including
193.65
195.7
2.05 (unknown)
181
62
0.14
1.64
1.57
AL18-016
164.35
165
0.65
3
584
0
0.07
0.18
166.85
175.6
8.75
22
17
0.03
0.16
0.31
180.5
181.7
1.2
19
1
0.1
0.42
1.16
Promontorio, Europa Sur, San José, Azulacas, Europa-Guadalupe, Promontorio Sur, Amalia, Tigre, La Quintera Vein Systems
Hole
From (m)
To (m)
Interval (m) / ETW (m)
Ag g/t
Au ppb
Cu %
Pb %
Zn %
AL19-017
111.25
117.25
6.00
58
5
0.16
0.11
0.10
including
115.95
116.45
0.50
124
36
0.26
0.10
0.25
155.85
156.9
1.05
118
34
0.19
0.01
0.04
including
155.85
156.05
0.20
365
3
0.75
0.01
0.03
280.35
280.6
0.25
116
1
0.50
0.03
0.05
303.75
305.85
2.10
55
2
0.16
0.06
0.03
including
303.75
304.10
0.35
103
3
0.28
0.09
0.03
329.3
330.5
1.20
67
8
0.14
0.29
0.30
including
329.30
329.80
0.50
110
19
0.18
0.14
0.29
393.6
395.35
1.75
84
12
0.13
0.03
0.10
including
395.00
395.35
0.35
105
25
0.27
0.06
0.15
AL19-018
95.45
97.75
2.30 (1.6)
41
5
0.15
0.12
0.21
308.15
309.10
0.95 (0.8)
425
91
0.32
3.17
1.31
including
308.60
309.10
0.50 (0.4)
719
172
0.57
5.91
2.37
433.10
441.40
8.30 (6.6)
68
78
0.11
0.58
1.58
including
433.10
436.90
3.80 (3.0)
33
84
0.07
0.64
1.55
and
437.55
439.60
2.05 (1.6)
88
86
0.13
0.81
2.31
and
440.70
441.40
0.70 (0.6)
237
75
0.21
0.30
2.00
AL19-019
69.50
71.05
1.55
2
5
0.13
0.22
1.62
264.80
266.95
2.15
4
36
0.04
0.84
1.49
337.40
337.65
0.25
7
19
0.00
1.05
2.80
347.35
347.65
0.30
4
10
0.00
0.73
2.21
367.20
368.00
0.80
6
11
0.00
0.79
1.85
376.35
376.85
0.50
5
15
0.00
0.78
2.45
489.80
490.25
0.45
29
31
0.00
1.01
2.08
512.25
512.50
0.25
33
33
0.11
0.29
1.91
539.45
539.60
0.15
30
39
0.04
0.09
1.23
582.30
583.50
1.20
50
41
0.16
0.48
0.80
650.10
650.50
0.40
16
139
0.05
1.11
2.84
654.10
654.35
0.25
113
150
0.29
2.60
5.74
Hole
From (m)
To (m)
Interval (m) / ETW (m)
Ag g/t
Au ppb
Cu %
Pb %
Zn %
AL19-020
226.00
226.30
0.30
7
2910
0.00
0.01
0.01
234.65
266.35
31.70 (25.4)
7
80
0.05
0.73
1.85
including
234.65
235.70
1.05 (0.8)
146
98
0.93
0.53
0.81
(which includes)
234.65
234.85
0.20 (0.20)
304
352
1.41
2.50
3.36
and
237.15
238.70
1.55 (1.2)
4
1278
0.01
0.55
1.03
(which includes)
237.15
237.60
0.45 (0.4)
4
3260
0.00
0.04
0.02
and
242.30
245.60
3.30 (2.6)
2
12
0.00
0.81
2.33
and
247.50
251.40
3.90 (3.1)
3
16
0.00
1.90
4.99
and
256.25
257.75
1.50 (1.2)
2
9
0.00
0.88
1.88
and
260.05
264.90
4.85 (3.9)
3
13
0.00
1.05
3.21
273.00
273.60
0.60 (unknown)
9
12
0.00
0.36
2.36
282.20
282.60
0.40 (unknown)
5
5
0.00
0.42
2.37
286.50
286.85
0.35 (unknown)
26
68
0.03
1.23
2.47
391.95
392.25
0.30 (unknown)
2
26
0.00
0.84
2.79
397.75
398.45
0.70 (unknown)
4
35
0.02
1.20
3.54
400.30
401.00
0.70 (unknown)
3.41
51
0.01
1.16
2.85
403.00
403.50
0.50 (unknown)
3.67
19
0.00
0.75
2.57
411.75
412.05
0.30 (unknown)
9
10
0.00
0.28
2.50
AL19-021
3.05
9.60
6.55 (unknown)
91
5
0.12
0.16
0.16
AL19-022
349.25
349.55
0.30 (unknown)
6
116
0.00
0.47
1.66
435.70
436.15
0.45 (unknown)
7
4
0.00
0.08
2.28
AL19-023
0.00
12.25
12.25 (9.8)
122
23
0.21
0.21
1.42
including
0.00
7.85
7.85 (6.3)
141
34
0.29
0.31
1.82
20.15
21.35
1.20 (unknown)
74
13
0.19
0.20
0.36
90.80
91.00
0.20 (unknown)
5
330
1.25
1.34
0.77
124.80
125.95
1.15 (unknown)
66
150
0.22
0.45
0.45
170.25
170.80
0.55 (unknown)
46
29
0.05
0.31
0.92
AL19-024
150.65
150.85
0.20
5
19
0.01
3.98
1.73
AL19-025
443.80
451.55
7.75 (6.2)
20
82
0.13
0.62
2.18
including
448.90
450.05
1.15 (0.9)
39
129
0.48
0.84
5.78
463.25
474.10
10.85 (8.7)
154
986
0.52
2.68
4.42
including
463.85
467.65
3.80 (3.0)
415
2676
1.37
6.20
9.19
including
463.85
464.80
0.95 (0.8)
1566
6719
4.48
9.27
10.08
Hole
From (m)
To (m)
Interval (m) / ETW (m)
Ag g/t
Au ppb
Cu %
Pb %
Zn %
AL19-026
129.20
129.70
0.50
23
38
0.24
0.37
0.83
240.00
241.35
1.35
169
11
0.18
0.25
1.04
426.25
426.55
0.30
259
3
0.52
0.58
0.47
436.45
436.75
0.30
55
56
0.08
0.28
3.17
452.60
452.85
0.25
129
56
1.27
0.46
5.18
464.35
465.40
1.05
134
131
0.31
1.25
3.89
including
464.35
464.80
0.45
231
159
0.38
2.48
7.83
476.85
477.65
0.80
160
39
0.37
1.71
3.55
478.85
479.10
0.25
77
12
0.21
1.10
1.33
515.60
517.10
1.50
50
9
0.08
0.30
1.68
AL19-027
398.00
398.30
0.30
282
24
0.31
0.30
1.59
461.20
461.55
0.35
194
122
0.69
0.06
0.12
468.70
468.90
0.20
44
55
0.29
0.55
0.30
471.90
472.10
0.20
160
1
0.95
0.07
0.31
484.10
484.70
0.60
6
34
0.01
0.56
1.69
AL19-028
170.80
171.25
0.45
52
18
0.06
0.12
0.30
236.85
240.95
4.10
51
11
0.14
0.17
0.58
including
238.40
239.55
1.15
60
19
0.12
0.24
1.31
364.20
367.25
3.05
55
3
0.04
0.07
0.12
including
365.45
366.00
0.55
126
12
0.16
0.28
0.54
AL19-029
130.65
143.45
12.80
37
39
0.04
0.21
0.40
including
130.65
133.75
3.10
48
97
0.06
0.34
0.87
AL19-030
427.05
436.85
9.80
31
4
0.02
0.06
0.13
488.15
490.10
1.95
261
15
0.11
0.16
0.27
including
489.00
489.40
0.40
1100
59
0.38
0.27
0.58
AL19-031
338.65
345.70
7.05
65
1
0.12
0.20
0.53
including
342.65
344.25
1.60
132
1
0.21
0.32
0.80
363.45
363.85
0.40
150
11
0.02
0.03
0.22
366.50
368.20
1.70
206
2
0.05
0.08
0.14
including
366.50
367.40
0.90
337
2
0.08
0.11
0.16
373.20
375.90
2.70
142
4
0.04
0.16
0.27
including
374.30
375.20
0.90
307
7
0.08
0.23
0.37
377.15
377.50
0.35
112
13
0.05
0.70
0.88
381.80
383.10
1.30
97
30
0.08
1.67
2.95
386.45
387.50
1.05
65
14
0.13
0.39
0.41
Hole
From
(m)
To (m)
Interval
(m) / ETW (m)
Ag g/t
Au ppb
Cu %
Pb %
Zn%
AL19-032
(Promontorio)
199.25
199.55
0.3
64
213
0.05
1.59
5.14
AL19-033
(Rosario)
300.7
308.05
7.35
47
2
0.07
0.13
0.18
AL19-034
(Promontorio)
234.15
235.25
1.1
729
1730
0.13
3.05
5.73
235.25
241.15
5.9
16
86
0.07
0.31
1.35
AL19-035
(Púlpito-Cotera)
136.75
144.3
7.55 (6.0)
43
29
0.03
0.05
0.14
159.6
159.8
0.2 (0.2)
367
6750
1.35
0.59
0.562
213.45
228.25
14.8 (11.8)
48
2
0.02
0.04
0.13
including
216.3
217.15
0.85 (0.7)
294
9
0.23
0.38
1.41
392.1
399.7
7.6 (6.1)
155
17
0.1
0.51
0.44
including
395.15
399.15
4 (3.2)
278
27
0.16
0.79
0.7
including
397
399.15
2.15 (1.7)
470
25
0.2
0.71
0.96
AL19-036
(La Dura)
395.5
397.45
1.95
56
8
0.11
0.13
0.02
AL19-037
(Las Animas)
353.5
354.55
1.05 (0.8)
245
98
0.74
0.37
0.66
including
354
354.55
0.55 (0.4)
451
160
1.27
0.53
1.09
AL19-038
(Alessandra)
98.00
99.10
1.10 (0.6)
12
137
0.06
1.81
4.22
99.10
99.80
0.70 (0.4)
1
3
0.95
0.11
0.31
154.85
155.40
0.55 (0.3)
9
22
0.01
0.68
2.58
368.50
375.10
6.60 (3.3)
9
15
1.94
0.46
1.49
including
369.05
373.25
4.20 (2.1)
12
20
2.58
0.63
2.17
399.55
402.50
2.95 (1.5)
12
48
0.87
0.04
0.02
419.85
432.95
13.10 (6.6)
3
3
0.34
0.01
0.02
including
427.00
429.60
2.60 (1.3)
8
10
0.74
0.01
0.03
AL 19-039
(Alessandra)
175.85
188.30
12.45
4
25
0.91
0.50
1.17
AL 19-040
(Alessandra)
No Significant Results
Phase II Results
Europa-Guadalupe Vein Zone
Hole
From
(m)
To (m)
Interval
(m) / ETW (m)
Ag g/t
Au ppb
Cu %
Pb %
Zn%
AL20-041
222.30
224.00
1.70
34
7
0.18
0.15
0.6
including
223.00
22.00
1.00
42
10
0.24
0.19
0.83
AL20-042
202.95
203.60
0.65
468
6
0.53
1.39
2.01
226.50
227.10
0.60
192
22
0.38
0.59
1.18
232.45
232.95
0.50
273
6
0.54
0.83
2.13
258.80
262.30
3.50
404
37
0.54
1.3
1.81
including
259.60
261.30
1.70
778
71
1
2.5
3.34
which includes
260.15
261.30
1.15
999
84
1.29
2.98
4.15
AL20-045
363.25
363.70
0.45
20
16
0.04
0.16
0.26
AL20-047
196.60
197.30
0.70
196
7
0.31
0.53
1.30
295.30
296.65
1.35
32
1
0.08
0.25
0.64
320.20
321.50
1.30
576
1
0.77
0.29
1.26
330.85
342.20
11.35
221
6
0.29
0.28
0.44
including
331.80
338.15
6.35
356
5
0.39
0.42
0.57
which includes
331.80
332.50
0.70
2090
24
1.98
2.51
2.43
Promontorio Vein Zone
Hole
From
To
Interval
Ag g/t
Au ppb
Cu %
Pb %
Zn %
AL20-043
196.50
198.25
1.75
144
510
0.21
4.15
9.10
including
197.50
198.25
0.75
212
591
0.28
8.54
15.85
198.25
200.95
2.70
workings
200.95
204.35
3.40
40
105
0.09
0.67
1.47
AL20-044
274.50
282.10
7.60
266
271
0.57
1.60
3.17
including
275.50
278.40
2.90
636
495
1.36
3.85
7.18
which includes
277.50
278.40
0.90
1675
1375
4.15
8.47
11.35
AL20-046
119.60
120.25
0.65
502
37
1.82
0.21
0.10
142.50
144.40
1.90
65
285
0.12
0.53
1.47
153.75
155.05
1.30
80
151
0.49
0.03
0.04
156.60
157.30
0.70
115
2600
0.32
0.21
0.13
176.90
182.00
5.10
769
108
0.76
0.04
0.07
including
178.90
182.00
3.10
1197
155
1.04
0.04
0.09
185.00
189.10
4.10
37
623
0.16
0.34
0.86
AL20-048
256.60
262.60
6.00
54
51
0.08
0.25
0.39
298.50
300.50
2.00
83
24
0.06
0.36
1.08
Drill Highlights Hole Data
HOLE
WGS84, Zone 12N
Elevation
AZ
INCL.
FINAL DEPTH (m)
VEIN ZONE
Easting
Northing
AL17-001
697420.78
2994096.57
518.38
90
-60
268.40
Minas Nuevas
AL17-007
695261.34
2990902.61
795.32
280
-45
573.40
Nva Europa/Europa
AL17-008
695265.46
2990902.02
795.59
100
-45
350.75
Travesia/La Quintera
AL18-011
696361.92
2989990.52
970.12
110
-40
624.80
Ana
AL18-012
696242.46
2990140.66
980.92
270
-40
707.60
Tigre/Amalia
AL18-014
693254.46
2986868.38
479.07
310
-40
617.50
El Creston
AL18-015
693825.07
2991780.09
620.93
285
-40
596.55
San Jose
AL19-018
694417.92
2990145.09
655.77
290
-40
501.00
Europa Sur
AL19-020
694849.94
2989703.44
544.60
135
-50
481.90
Promontorio Sur
AL19-023
695261.62
2990085.17
703.74
120
-60
356.85
Azulacas (Las Guijas)
AL19-025
695472.14
2989747.79
796.74
270
-40
576.45
Promontorio Las Guijas
AL19-035
696390.38
2993461.84
737.00
110
-40
472.75
Pulpito/Cotera
AL19-037
697442.76
2991918.86
535.23
80
-40
497.15
Las Animas
AL19-038
697148.49
2988441.99
1157.43
75
-45
546.55
Alessandra
-
-
Alamos Project Photos
Alamos Drill Core Photos
-
PDAC 2020 Core Shack with Stephen Maynard, VP Exploration, Minaurum Gold Inc.
PDAC 2020 Core Shack with Dr. Peter Megaw, Co-founder & Director, Minaurum Gold Inc.
Webcast on Historical Data and Exploration Update at the Alamos Silver Project
Dr. Peter Megaw, Minaurum Gold Inc. - "Proof of Concept at the Alamos Silver Project"
Stephen Maynard, Minaurum Gold Inc. - "More Drill Core from the Alamos Silver Project"
Dr. Peter Megaw, Co-founder & Director of Minaurum Gold Inc. - "The Alamos Silver Project"
Dr. Peter Megaw, Minaurum Gold Inc. - "Drill Core from the Alamos Silver Project"
| Project | Alamos |
| Commodity | Primary: Silver Secondary: Gold, Copper, Lead, Zinc |
| Location | Southern Sonora |
| Nearest City | 8 km west of city of Alamos |
| Nearest Major Mining Projects | 45 km Northwest of Pan American's Alamo Dorado silver mine 15 km South of Cobre Del Mayo's Piedras Verdes copper mine |
| Drilling |
Phase I - 18,810 m, 40 hole drill program complete Phase II - 20,000 m drilling program underway |
| Geology | Epithermal vein system |
| Land Package | 37,317 has |
| Exploration Highlights |
Hole AL 17-07 0.95 m of 425 g/t Ag, 0.32% Cu, 3.17% Pb, 1.31% Zn or 622 g/t AgEq Hole AL19-025 Hole AL 20-042 Hole AL 20-046 Hole AL 20-047 |
| Access & Infrastructure | Paved and gravel roads, mining labour force, power and water |
| Project Interest | Under option to acquire up to 100% interest |
Project
The Alamos silver project contains a wide, high-grade epithermal vein system hosted by Cretaceous limestone, Laramide batholith and Tertiary volcanic rocks which historically produced approximately 200 Moz of silver from three separate mines. Historic reports indicate mine widths of up to 20m grading in excess of 2,000 g/t Ag and 3-4% Copper. Silver-bearing veins in the Sierra de Alamos were first discovered by Spanish miners around 1682. The district produced an estimated minimum 120 million ounces of silver from the 1680s to the early 20th century, with the great majority of production from the Promontorio, La Quintera, and Zambona (Minas Nuevas) mines. In the latter part of the 19th century, silver production from the district supported a mint in the nearby town of Alamos. Mining activities diminished just before and during the 1910-1920 Mexican Revolution, with the Zambona mine shutting down by 1925. Various operators attempted to revive the mines during the 20th century, but with only minor production, mostly from the re-working of mine dumps.
Recently acquired historical data including mine maps, sections and results of 40 holes (6,099 m) drilled in multiple surface and underground exploration campaigns that occurred from the 1960s through the early 1980s at its Alamos silver project in Sonora, Mexico. The exploration programs were focused on the historic Promontorio and Minas Nuevas underground mines that closed in 1898 and 1912. The majority of these historic holes cut broad widths of high-grade silver, the best include: Hole U-3 that cut 4.6 m grading 2,838 g/t (82.8 oz/t) silver and Hole U-5 that cut 11.3 m of 785 g/t (22.9 oz/t) silver. The drill results indicate that the historically mined deposits included multiple veins and continue at depth both down plunge and along-strike. At Promontorio, drill holes intersected mineralization over 50 m below the historic mining level and indicate an aggregate 735 m strike length of mineralization. It is estimated that 200 million ounces of silver were mined from the Quintera, Promontorio and Minas Nuevas mines (please see News Release February 6, 2020).
Prior to Minaurum, the project had never been controlled by a single company nor seen modern exploration. Minaurum commenced the first systematic exploration program over the district, consisting of a Phase I drill program totaling 18,810 m in 40 holes, resulting in the identification of over 16 new vein systems with a total of 26 vein systems identified. Fourteen of the nineteen vein systems drilled returned high-grade silver intercepts demonstrating that mineralization occurs throughout a 10 km-long by 6 km-wide corridor.
Alamos hosts excellent infrastructure with the central area (Quintera-Promontorio vein system) permitted from exploration through to production. The project is 8 km west of the city of Alamos, 45km northwest of Pan American's Alamo Dorado silver mine, and 15 km south of Cobre Del Mayo's Piedras Verdes copper mine. The total size of the project is 37,317 hectares.
Project terms include cash and share payments including i) CDN $2,600,0000 in cash ii) 6,000,000 Minaurum shares and iii) incur CDN $3,000,000 in exploration expenditures.
Geology
Upper Jurassic–lower Cretaceous limestone is the oldest known lithologic unit in the Alamos district. Late Cretaceous-early Tertiary batholithic granodiorite intrudes the limestone, subjecting it to extensive recrystallization and skarn-hornfels alteration. A several hundred metre-thick sequence of Tertiary andesitic lavas and coarse agglomerates overlies the limestone-granodiorite basement package. Bedded pyroclastic rocks overlie the lava/coarse agglomerate group. These are andesitic in the lower part and their upper part is composed of a thick rhyolite ignimbrite.
Granitic, monzonite, and dacite-porphyry stocks and intermediate to felsic dikes cut the basement and volcanic rocks.
Northwest/southeast and north-northeast/south-southwest faults and fractures dominate the structural grain of the Alamos district. The NW/SE faults appear to be older than the NNE/SSE faults. The NNE/SSE faults bound a series of horsts and grabens, form striking topographic linears and form the host structures for most of the known precious metal mineralization. These structures host all of the significant past producing mines. Both sets of faults appear to have been periodically reactivated. Cobre del Mayo’s Piedras Verdes porphyry copper mine lies about 16 km to the NNE of the central part of the Alamos district, along the projection of the +main fault trend.
Low-sulfidation silver and base-metal mineralization occurs in epithermal veins emplaced along the NNE-SSW striking fault zones and within fault-bounded blocks. Multiple phases of vein emplacement and fault movement are evidenced by cross-cutting veins and breccias. Historically mined high grade mineralization occurs in steeply plunging shoots. Records of the La Quintera mine show that the mined shoot plunged steeply to the southwest for more than 450 m. Its horizontal dimensions were approximately 250 m long along strike and up to 20 m thick.
Exploration Methodology
Minaurum Director and Co-Founder Dr. Peter Megaw and VP Exploration, Mr. Stephen Maynard developed a “Piano-Key” faulting model based on the historical mines at Alamos to drive the exploration program at the Alamos project. In this exploration model, faulting generates a series of parallel elongated multi-kilometre long fault blocks that alternate as up and down-thrown blocks. Just like a piano, veins in the high-standing blocks (black piano keys) were eroded to a deep level (as in the historically mined parts of the district) and veins in the down-thrown blocks (white piano keys) were protected from erosion so that narrow stringer veins on surface in the down-thrown blocks may be indications of intact economic veins at depth. This model indicates that the narrow stringer veins seen on the surface throughout Alamos, may just be the upper extreme portions of intact veins lying at depth.
Minaurum's exploration program, analysis and interpretation of the results further explains why production only occurred at the core part of the Alamos project. In the core area (La Quintera and Promontorio), up-thrown blocks had high grade portions of veins exposed on surface leading to their development. Down-thrown blocks to the west and east are exposed on surface at a higher level (or not at all in the case of blind veins). Exposed at a higher level, these veins are spottier or lower grade and as such were not put into production. “Blind” veins were intersected in holes AL17-007 and AL17-008, confirming the “Piano-Key” model of veins with little or no surface expression in down-dropped blocks. See below for photo illustration demonstration the 'Piano-Key' model.
Minaurum’s exploration program has consisted of detailed geological mapping and rock-chip sampling, as well as a core drilling. Minaurum geologists have covered more than 75 sq km with detailed geological mapping and the geochemical database has more than 1500 rock samples. Company geologists have identified 26 vein zones in the Alamos district; surface mapping, sampling, and vein zone identification are on-going.
In the Phase I - 18,000m drill program, Minaurum's strategy was to drill each of the identified vein zones with one to three long (400-600 m) holes drilled at shallow angles across the intervening blocks to maximize chances of cutting the identified zones close to perpendicularly and to maximize the chance of encountering mineralized vein zones in intervening down-dropped fault blocks. The purpose was to prove 'district-scalability' and identify new vein zones outside of the historic area.
The Phase I program proved successful in expanding the mineralized zones and returning high grade silver intercepts. Minaurum's exploration team successfully expanded the Alamos district footprint to 11 km x 6 km or 6,600 hectares, which is only 17% of the total concession package with 83% yet to be systematically explored. Nineteen of the 26 vein zones were drilled with 14 returning high grade silver intercepts.
26 Veins Mapped at the Alamos Project
August 2016
Exploration Highlights
| Phase I Results | ||
|---|---|---|
| Vein System | Known Strike Length (m) | Best Drill Intercept |
| Minas Nuevas | 1500 | 17.95 m @ 96 g/t Ag (AL17-001) |
| Promontorio | 1000 |
20.15 m @ 154 g/t Ag, 0.5% Cu, 2.3% Pb, 6.8% Zn (AL17-004)
|
| San Jose | 2500 | 9.60 m @ 198 g/t Ag, 0.22% Pb, 0.88 % Zn (AL18-015) |
| Europa-Guadalupe | 2500 |
8.25 m @ 1,760 g/t Ag,1.60 % Cu, 1.48% Pb, 2.6% Zn 9 (AL17-007) |
| Nueva Europa | 2100 | 1.20 m @ 542 g/t Ag, 0.28% Cu, 0.44% Pb, 0.88% Zn (AL17-007) |
| Amalia | 980 |
1.30 m @ 1.73% Pb, 1.99% Zn (AL18-012)
|
| Tigre | 1000 | 0.90 m @ 391 g/t Ag, 0.42% Pb, 0.29% Zn (AL18-012) |
| Ana | 3400 | 2.85 m @ 25 g/t Ag, 2.29% Pb, 10.58% Zn (AL18-011) |
| Travesia | 880 | 9.60 m @ 88 g/t Ag, 0.37% Pb, 0.33% Zn (AL17-008) |
| El Creston | 1900 | 0.20 m @ 20 g/t Ag, 0.85% Cu (AL18-014) |
| Europa Sur | 1000 | 0.95 m @ 425 g/t Ag, 3.17% Pb 1.31% Zn, 0.50-m interval assaying 719 g/t Ag, 172 ppb Au, 0.57% Cu, 5.92% Pb, and 2.37% Zn (AL19-018 – Europa SW) |
| Promontorio Sur | 1300 | 31.40 m mineralized zone containing 0.20m interval assaying 304 g/t Ag, 1.41% Cu, 2.5% Pb, 3.36% Zn (AL19-020) |
| Azulacas | 400 | 13.10 m averaging 119 g/t Ag and 1.37% Zn (AL19-023) |
| La Quintera | 1400 | 0.50 m of 124 g/t Ag (AL19-017) |
| Cotera | 800 | 7.60 m @ 155 g/t Ag incl. 2.15 m @ 451 g/t Ag (AL19-035) |
| Alessandra | 1100 | 6.60 m @ 3.89% combined Cu, Pb, and Zn (AL19-038) |
| Pulpito | 1000 | 0.20 m @ 367 g/t Ag, 6.75 g/t Au, 1.35% Cu, 0.59% Pb & 056% Zn (AL 19-035) |
| Phase II Results | ||
| Europa-Guadalupe |
6.35 m of 356 g/t Ag, 0.39% Cu, 0.42% Pb, 0.57% Zn incl. 0.70 m of 2090 g/t Ag, 1.98% Cu, 2.51% Pb, 2.43% Zn (AL20-047) 3.50 m of 404 g/t Ag, 0.54% Cu, 1.30% Pb, 1.81% Zn in hole incl. 1.15 m of 999 g/t Ag, 1.29% Cu, 2.98% Pb, 2.98% Zn (AL20-042) |
|
| Promontorio | 5.1 m of 769 g/t Ag, 0.76% Cu; incl. 3.1 m of 1,197 g/t Ag, 1.38% Cu (AL20-046) 2.9 m of 636 g/t Ag, 1.36% Cu, 3.85% Pb, 7.18% Zn (AL20-044) 1.75 m of 144 g/t Ag, 4.15% Pb, 9.10% Zn (AL20-043) |
|
Drill highlights from the Historical Drilling Data at the Promontorio mine include: (only silver and gold were assayed – widths are reported drill thickness)
- 1.2 m of 5,588 g/t Ag (Hole U-1)
- 1.2 m of 1,008 g/t Ag (Hole U -1)
- 4.6 m of 2,838 g/t Ag (Hole U-3)
- 4.6 m of 305 g/t Ag (Hole U-4)
- 1.4 m of 377 g/t Ag (Hole U-4)
- 12.2 m of 710 g/t Ag (Hole U-4)
- 7.6 m of 747 g/t Ag (Hole U-5)
- 11.3 m of 785 g/t Ag (Hole U-5)
- 1 m of 2,177 g/t Ag (Hole U-12)
- 1.2 m of 854 g/t Ag and 23 g/t Au (2,845 g/t AgEq*) (Hole U-15)
Drill highlights from the Historical Drilling Data at the Minas Nuevas mine include: (only silver was assayed – widths are reported drill thickness)
- 1.7 m of 452 g/t Ag (Hole TP-80-08)
- 2 m of 367 g/t Ag (Hole TP-80-09)
- 1.8 m of 839 g/t Ag (Hole TZ-80-01)
*Ag Equivalent value was derived using silver price of $17.99 and gold price of $1,557.10 (Kitco, 15 January 2020).
Exploration Agreements
The Alamos project is situated on land belonging to the ejidos of La Aduana and Tetajiosa and the community of Minas Nuevas. Exploration agreements are in place with all three along with annual rental payments to maintain the agreements.
An Environmental Impact Statement (MIA) was obtained from the Secretariat of Environment and Natural Resources (SEMARNAT) in 2012, to conduct exploration on the La Aduana and Tetajiosa lands. The MIA activities include surface exploration, including sampling and construction of drilling pads, rehabilitation of existing mines for exploration and exploitation purposes, temporary stockpiling of rock material, and haulage of extracted material by truck off-site for process and the recovery of ore.
Part of the Alamos project lies within the Sierra de Alamos – Río Cuchujaqui Reserve, which overlaps ejido lands. Authorization was received from the National Commission of Natural Protected Areas (CONANP) to explore in the Reserve Area. The reserve area land inside the project area is categorized as an “area of sustainable exploitation of natural resources”, which is defined in the reserve area management plan as use that does not negatively affect future generations. A coordination agreement between the Protected Area authorities and SEMARNAT was established in July of 2013 and is valid for the life of the project.
Minas Nuevas Target
| Hole | From (m) | To (m) | Interval (m) / ETW (m) | Ag (g/t) |
|---|---|---|---|---|
| AL17-001 | 71.95 | 89.60 | 17.65 (14.1) | 95.9 |
| including | ||||
| 71.95 | 73.50 | 1.55 (1.2) | 155.0 | |
| 77.00 | 78.00 | 1.00 (0.8) | 150.0 | |
| 80.45 | 81.45 | 1.00 (0.8) | 279.0 | |
| 84.45 | 85.75 | 1.30 (1.0) | 172.0 | |
| 86.55 | 89.60 | 3.05 (2.4) | 110.1 | |
| AL17-002 | 76.25 | 89.30 | 13.05 (10.4) | 53.7 |
| including | ||||
| 85.40 | 86.90 | 1.50 (1.2) | 181.0 | |
| 155.55 | 159.00 | 3.45 (2.8) | 68.1 | |
| including | ||||
| 158.55 | 159.00 | 0.45 (0.4) | 156.3 | |
Blind-Vein/Southern Nueva Europa Target
| Hole | From (m) | To (m) | Interval (m) | Ag (g/t) | Au (ppb) | Cu (%) | Pb (%) | Zn (%) |
|---|---|---|---|---|---|---|---|---|
| AL17-003 | 274.90 | 275.15 | 0.25 | 7.7 | 25 | 0.01 | 0.93 | 2.38 |
Promontorio Target
| Hole | From (m) | To (m) | Interval (m) | Ag (g/t) | Au (ppb) | Cu (%) | Pb (%) | Zn (%) |
|---|---|---|---|---|---|---|---|---|
| AL17-004 | 81.90 | 102.05 | 20.15 | 154.1 | 234 | 0.5 | 2.3 | 6.8 |
| including | ||||||||
| 84.10 | 85.70 | 1.60 | 235.6 | 697 | 0.5 | 11.8 | 20.0 | |
| AL17-005 | 124.00 | 132.50 | 8.50 | 81 | 129 | 0.14 | 3.23 | 2.72 |
| including | ||||||||
| 126.05 | 128.80 | 2.75 | 126.7 | 275 | 0.15 | 8.91 | 5.26 | |
| 135.35 | 138.50 | 3.15 | 322.3 | 276 | 0.47 | 1.65 | 3.29 | |
| including | ||||||||
| 135.35 | 136.35 | 1.00 | 557 | 207.5 | 0.65 | 0.77 | 2.17 | |
Europa-Guadalupe & Nueva Europa Targets
| Hole | From (m) | To (m) | Interval (m) / ETW (M) | Ag (g/t) | Au (ppb) | Cu (%) | Pb (%) | Zn (%) | Comment |
|---|---|---|---|---|---|---|---|---|---|
| AL17-006 | 94.05 | 110.8 | 16.75 | 11.8 | 11 | 0.13 | 0.04 | 0.05 | Gap Vein System |
| AL17-007 | 181.1 | 181.6 | 0.5 (0.4) | 81.1 | 13 | 0.92 | 0.1 | 0.18 | Blind Vein |
| 273.3 | 274.5 | 1.2 (0.96) | 541.5 | 16 | 0.28 | 0.44 | 0.88 | Nueva Europa Vein Zone | |
| 499.1 | 500.1 | 1 (0.70) | 218 | 23 | 0.42 | 0.33 | 0.73 | Blind Vein | |
| 521.55 | 524.6 | 3.05 (3.05) | 114 | 4 | 0.19 | 0.07 | 0.22 | Europa-Guadalupe Vein System | |
| 534.65 | 542.9 | 8.25 (8.25) | 1,760 | 58 | 1.6 | 1.48 | 2.6 | ||
| including | |||||||||
| 534.65 | 536.85 | 2.2 (2.20) | 5,098 | 42 | 2.76 | 0.47 | 1.18 | ||
| AL17-008 | 201.30 | 201.65 | 0.35 (0.2) | 185 | 16 | 1.05 | 2.37 | 1.44 | Blind Vein |
| 229.20 | 238.80 | 9.60 (7.7) | 88 | 14 | 0.24 | 0.37 | 0.33 | Gap Vein System | |
| including | |||||||||
| 229.75 | 232.40 | 2.65 (2.1) | 147 | 24 | 0.25 | 0.21 | 0.28 | ||
San José, Ana, Tigre & Amalia, El Creston, Minas Nuevas Vein Systems
| Hole | From (m) | To (m) | Drill Width (m) / ETW (m) | Ag (g/t) | Au (ppb) | Cu (%) | Pb (%) | Zn (%) |
|---|---|---|---|---|---|---|---|---|
| AL18-009 | 126.9 | 128.55 | 1.65 | 21 | 4 | 0.19 | <0.01 | 0.02 |
| 378.5 | 401.05 | 22.55 | 25 | <1 | 0.03 | <0.01 | 0.06 | |
| AL18-010 | no significant values | |||||||
| AL18-011 | 394.1 | 396.95 | 2.85 (Unknown) | 25 | 14 | 0 | 2.29 | 10.58 |
| including | ||||||||
| 395.2 | 396.95 | 1.75 | 40 | 18 | 0 | 3.57 | 16.54 | |
| 419.15 | 422.1 | 2.95 | 3 | 2 | 0.38 | 1.72 | ||
| including | ||||||||
| 421 | 422.1 | 1.1 | 7 | 2 | 0.74 | 3.23 | ||
| 455.95 | 457.05 | 1.1 | 5 | 4 | 0.22 | 1.71 | ||
| 467.35 | 467.6 | 0.25 | 4 | 19 | 0.3 | 1.84 | ||
| 519.65 | 520.05 | 0.4 | 7 | 5 | 0.21 | 1.19 | ||
| 533.4 | 535.5 | 2.1 | 3 | 7 | 0.14 | 1.14 | ||
| 548.8 | 549.5 | 0.7 | 3 | 8 | 0.1 | 1.57 | ||
| 551.45 | 551.8 | 0.35 | 3 | 7 | 0.12 | 1.16 | ||
| 569.5 | 570.5 | 1 | 2 | 4 | 0.21 | 1.19 | ||
| 578.05 | 579.35 | 1.3 | 4 | 5 | 0.14 | 1.21 | ||
| AL18-012 | 123.15 | 125.3 | 2.15 (1.7) | 1 | 345 | 0.01 | 0.08 | 0.64 |
| 179.15 | 179.9 | 0.75 (0.6) | 2 | 21 | 0.74 | 2.67 | ||
| 203.75 | 204.65 | 0.9 (0.7) | 391 | 17 | 0.11 | 0.42 | 0.29 | |
| 212.9 | 213.4 | 0.5 (1.4) | 7 | 18 | 0.01 | 0.1 | 2.18 | |
| 466.45 | 467.75 | 1.3 (unknown) | 7 | 10 | 0.01 | 1.73 | 1.99 | |
| 696.15 | 698.8 | 2.65 (unknown) | 17 | 17 | 0.79 | 1.18 | ||
| including | ||||||||
| 697.6 | 698.45 | 0.85 (unknown) | 41 | 34 | 1.6 | 2.35 | ||
| AL18-013 | 12.2 | 13.7 | 1.5 | <1 | 323 | 0.01 | 0.01 | |
| 295.35 | 296.65 | 1.3 | 16 | 11 | 0.08 | 0.33 | 0.42 | |
| AL18-014 | 96.85 | 97 | 0.15 (0.1) | 1 | 4 | 0.01 | 1 | |
| 252.35 | 252.85 | 0.5 (0.4) | 8 | 56 | 0.32 | 0.14 | 0.23 | |
| 320.35 | 320.55 | 0.2 (0.1) | 20 | 14 | 0.85 | 0.03 | ||
| 364.05 | 364.3 | 0.25 (0.2) | 1 | 8 | 0.39 | 1.04 | ||
| 448 | 448.35 | 0.35 (0.2) | <1 | 1 | 0.17 | 1.45 | ||
| AL18-015 | 57.75 | 62 | 4.25 (10.6) | 146 | 13 | 0.16 | 0.52 | 0.56 |
| including | ||||||||
| 59.15 | 60.05 | 0.9 (3.4) | 302 | 20 | 0.21 | 0.49 | 0.78 | |
| and | ||||||||
| 61.5 | 62 | 0.5 (0.4) | 171 | 36 | 0.36 | 1.76 | 1.01 | |
| 127.6 | 137.2 | 9.6 (7.7) | 198 | 24 | 0.17 | 0.22 | 0.88 | |
| including | ||||||||
| 129.1 | 131.15 | 2.05 (1.6) | 274 | 41 | 0.26 | 0.28 | 2.6 | |
| and | ||||||||
| 129.1 | 129.95 | 0.85 (0.7) | 398 | 21 | 0.24 | 0.27 | 1.73 | |
| and | ||||||||
| 133.2 | 136.2 | 3 (2.4) | 224 | 28 | 0.22 | 0.24 | 0.36 | |
| 180.15 | 182.15 | 2 (unknown) | 109 | 8 | 0.12 | 0.08 | 0.13 | |
| 192.9 | 196.7 | 3.8 (unknown) | 140 | 35 | 0.1 | 0.99 | 1.12 | |
| including | ||||||||
| 193.65 | 195.7 | 2.05 (unknown) | 181 | 62 | 0.14 | 1.64 | 1.57 | |
| AL18-016 | 164.35 | 165 | 0.65 | 3 | 584 | 0 | 0.07 | 0.18 |
| 166.85 | 175.6 | 8.75 | 22 | 17 | 0.03 | 0.16 | 0.31 | |
| 180.5 | 181.7 | 1.2 | 19 | 1 | 0.1 | 0.42 | 1.16 | |
Promontorio, Europa Sur, San José, Azulacas, Europa-Guadalupe, Promontorio Sur, Amalia, Tigre, La Quintera Vein Systems
| Hole | From (m) | To (m) | Interval (m) / ETW (m) | Ag g/t | Au ppb | Cu % | Pb % | Zn % |
|---|---|---|---|---|---|---|---|---|
| AL19-017 | 111.25 | 117.25 | 6.00 | 58 | 5 | 0.16 | 0.11 | 0.10 |
| including | ||||||||
| 115.95 | 116.45 | 0.50 | 124 | 36 | 0.26 | 0.10 | 0.25 | |
| 155.85 | 156.9 | 1.05 | 118 | 34 | 0.19 | 0.01 | 0.04 | |
| including | ||||||||
| 155.85 | 156.05 | 0.20 | 365 | 3 | 0.75 | 0.01 | 0.03 | |
| 280.35 | 280.6 | 0.25 | 116 | 1 | 0.50 | 0.03 | 0.05 | |
| 303.75 | 305.85 | 2.10 | 55 | 2 | 0.16 | 0.06 | 0.03 | |
| including | ||||||||
| 303.75 | 304.10 | 0.35 | 103 | 3 | 0.28 | 0.09 | 0.03 | |
| 329.3 | 330.5 | 1.20 | 67 | 8 | 0.14 | 0.29 | 0.30 | |
| including | ||||||||
| 329.30 | 329.80 | 0.50 | 110 | 19 | 0.18 | 0.14 | 0.29 | |
| 393.6 | 395.35 | 1.75 | 84 | 12 | 0.13 | 0.03 | 0.10 | |
| including | ||||||||
| 395.00 | 395.35 | 0.35 | 105 | 25 | 0.27 | 0.06 | 0.15 | |
| AL19-018 | 95.45 | 97.75 | 2.30 (1.6) | 41 | 5 | 0.15 | 0.12 | 0.21 |
| 308.15 | 309.10 | 0.95 (0.8) | 425 | 91 | 0.32 | 3.17 | 1.31 | |
| including | ||||||||
| 308.60 | 309.10 | 0.50 (0.4) | 719 | 172 | 0.57 | 5.91 | 2.37 | |
| 433.10 | 441.40 | 8.30 (6.6) | 68 | 78 | 0.11 | 0.58 | 1.58 | |
| including | ||||||||
| 433.10 | 436.90 | 3.80 (3.0) | 33 | 84 | 0.07 | 0.64 | 1.55 | |
| and | ||||||||
| 437.55 | 439.60 | 2.05 (1.6) | 88 | 86 | 0.13 | 0.81 | 2.31 | |
| and | ||||||||
| 440.70 | 441.40 | 0.70 (0.6) | 237 | 75 | 0.21 | 0.30 | 2.00 | |
| AL19-019 | 69.50 | 71.05 | 1.55 | 2 | 5 | 0.13 | 0.22 | 1.62 |
| 264.80 | 266.95 | 2.15 | 4 | 36 | 0.04 | 0.84 | 1.49 | |
| 337.40 | 337.65 | 0.25 | 7 | 19 | 0.00 | 1.05 | 2.80 | |
| 347.35 | 347.65 | 0.30 | 4 | 10 | 0.00 | 0.73 | 2.21 | |
| 367.20 | 368.00 | 0.80 | 6 | 11 | 0.00 | 0.79 | 1.85 | |
| 376.35 | 376.85 | 0.50 | 5 | 15 | 0.00 | 0.78 | 2.45 | |
| 489.80 | 490.25 | 0.45 | 29 | 31 | 0.00 | 1.01 | 2.08 | |
| 512.25 | 512.50 | 0.25 | 33 | 33 | 0.11 | 0.29 | 1.91 | |
| 539.45 | 539.60 | 0.15 | 30 | 39 | 0.04 | 0.09 | 1.23 | |
| 582.30 | 583.50 | 1.20 | 50 | 41 | 0.16 | 0.48 | 0.80 | |
| 650.10 | 650.50 | 0.40 | 16 | 139 | 0.05 | 1.11 | 2.84 | |
| 654.10 | 654.35 | 0.25 | 113 | 150 | 0.29 | 2.60 | 5.74 | |
| Hole | From (m) | To (m) | Interval (m) / ETW (m) | Ag g/t | Au ppb | Cu % | Pb % | Zn % |
|---|---|---|---|---|---|---|---|---|
| AL19-020 | 226.00 | 226.30 | 0.30 | 7 | 2910 | 0.00 | 0.01 | 0.01 |
| 234.65 | 266.35 | 31.70 (25.4) | 7 | 80 | 0.05 | 0.73 | 1.85 | |
| including | ||||||||
| 234.65 | 235.70 | 1.05 (0.8) | 146 | 98 | 0.93 | 0.53 | 0.81 | |
| (which includes) | ||||||||
| 234.65 | 234.85 | 0.20 (0.20) | 304 | 352 | 1.41 | 2.50 | 3.36 | |
| and | ||||||||
| 237.15 | 238.70 | 1.55 (1.2) | 4 | 1278 | 0.01 | 0.55 | 1.03 | |
| (which includes) | ||||||||
| 237.15 | 237.60 | 0.45 (0.4) | 4 | 3260 | 0.00 | 0.04 | 0.02 | |
| and | ||||||||
| 242.30 | 245.60 | 3.30 (2.6) | 2 | 12 | 0.00 | 0.81 | 2.33 | |
| and | ||||||||
| 247.50 | 251.40 | 3.90 (3.1) | 3 | 16 | 0.00 | 1.90 | 4.99 | |
| and | ||||||||
| 256.25 | 257.75 | 1.50 (1.2) | 2 | 9 | 0.00 | 0.88 | 1.88 | |
| and | ||||||||
| 260.05 | 264.90 | 4.85 (3.9) | 3 | 13 | 0.00 | 1.05 | 3.21 | |
| 273.00 | 273.60 | 0.60 (unknown) | 9 | 12 | 0.00 | 0.36 | 2.36 | |
| 282.20 | 282.60 | 0.40 (unknown) | 5 | 5 | 0.00 | 0.42 | 2.37 | |
| 286.50 | 286.85 | 0.35 (unknown) | 26 | 68 | 0.03 | 1.23 | 2.47 | |
| 391.95 | 392.25 | 0.30 (unknown) | 2 | 26 | 0.00 | 0.84 | 2.79 | |
| 397.75 | 398.45 | 0.70 (unknown) | 4 | 35 | 0.02 | 1.20 | 3.54 | |
| 400.30 | 401.00 | 0.70 (unknown) | 3.41 | 51 | 0.01 | 1.16 | 2.85 | |
| 403.00 | 403.50 | 0.50 (unknown) | 3.67 | 19 | 0.00 | 0.75 | 2.57 | |
| 411.75 | 412.05 | 0.30 (unknown) | 9 | 10 | 0.00 | 0.28 | 2.50 | |
| AL19-021 | 3.05 | 9.60 | 6.55 (unknown) | 91 | 5 | 0.12 | 0.16 | 0.16 |
| AL19-022 | 349.25 | 349.55 | 0.30 (unknown) | 6 | 116 | 0.00 | 0.47 | 1.66 |
| 435.70 | 436.15 | 0.45 (unknown) | 7 | 4 | 0.00 | 0.08 | 2.28 | |
| AL19-023 | 0.00 | 12.25 | 12.25 (9.8) | 122 | 23 | 0.21 | 0.21 | 1.42 |
| including | ||||||||
| 0.00 | 7.85 | 7.85 (6.3) | 141 | 34 | 0.29 | 0.31 | 1.82 | |
| 20.15 | 21.35 | 1.20 (unknown) | 74 | 13 | 0.19 | 0.20 | 0.36 | |
| 90.80 | 91.00 | 0.20 (unknown) | 5 | 330 | 1.25 | 1.34 | 0.77 | |
| 124.80 | 125.95 | 1.15 (unknown) | 66 | 150 | 0.22 | 0.45 | 0.45 | |
| 170.25 | 170.80 | 0.55 (unknown) | 46 | 29 | 0.05 | 0.31 | 0.92 | |
| AL19-024 | 150.65 | 150.85 | 0.20 | 5 | 19 | 0.01 | 3.98 | 1.73 |
| AL19-025 | 443.80 | 451.55 | 7.75 (6.2) | 20 | 82 | 0.13 | 0.62 | 2.18 |
| including | ||||||||
| 448.90 | 450.05 | 1.15 (0.9) | 39 | 129 | 0.48 | 0.84 | 5.78 | |
| 463.25 | 474.10 | 10.85 (8.7) | 154 | 986 | 0.52 | 2.68 | 4.42 | |
| including | ||||||||
| 463.85 | 467.65 | 3.80 (3.0) | 415 | 2676 | 1.37 | 6.20 | 9.19 | |
| including | ||||||||
| 463.85 | 464.80 | 0.95 (0.8) | 1566 | 6719 | 4.48 | 9.27 | 10.08 | |
| Hole | From (m) | To (m) | Interval (m) / ETW (m) | Ag g/t | Au ppb | Cu % | Pb % | Zn % |
|---|---|---|---|---|---|---|---|---|
| AL19-026 | 129.20 | 129.70 | 0.50 | 23 | 38 | 0.24 | 0.37 | 0.83 |
| 240.00 | 241.35 | 1.35 | 169 | 11 | 0.18 | 0.25 | 1.04 | |
| 426.25 | 426.55 | 0.30 | 259 | 3 | 0.52 | 0.58 | 0.47 | |
| 436.45 | 436.75 | 0.30 | 55 | 56 | 0.08 | 0.28 | 3.17 | |
| 452.60 | 452.85 | 0.25 | 129 | 56 | 1.27 | 0.46 | 5.18 | |
| 464.35 | 465.40 | 1.05 | 134 | 131 | 0.31 | 1.25 | 3.89 | |
| including | ||||||||
| 464.35 | 464.80 | 0.45 | 231 | 159 | 0.38 | 2.48 | 7.83 | |
| 476.85 | 477.65 | 0.80 | 160 | 39 | 0.37 | 1.71 | 3.55 | |
| 478.85 | 479.10 | 0.25 | 77 | 12 | 0.21 | 1.10 | 1.33 | |
| 515.60 | 517.10 | 1.50 | 50 | 9 | 0.08 | 0.30 | 1.68 | |
| AL19-027 | 398.00 | 398.30 | 0.30 | 282 | 24 | 0.31 | 0.30 | 1.59 |
| 461.20 | 461.55 | 0.35 | 194 | 122 | 0.69 | 0.06 | 0.12 | |
| 468.70 | 468.90 | 0.20 | 44 | 55 | 0.29 | 0.55 | 0.30 | |
| 471.90 | 472.10 | 0.20 | 160 | 1 | 0.95 | 0.07 | 0.31 | |
| 484.10 | 484.70 | 0.60 | 6 | 34 | 0.01 | 0.56 | 1.69 | |
| AL19-028 | 170.80 | 171.25 | 0.45 | 52 | 18 | 0.06 | 0.12 | 0.30 |
| 236.85 | 240.95 | 4.10 | 51 | 11 | 0.14 | 0.17 | 0.58 | |
| including | ||||||||
| 238.40 | 239.55 | 1.15 | 60 | 19 | 0.12 | 0.24 | 1.31 | |
| 364.20 | 367.25 | 3.05 | 55 | 3 | 0.04 | 0.07 | 0.12 | |
| including | ||||||||
| 365.45 | 366.00 | 0.55 | 126 | 12 | 0.16 | 0.28 | 0.54 | |
| AL19-029 | 130.65 | 143.45 | 12.80 | 37 | 39 | 0.04 | 0.21 | 0.40 |
| including | ||||||||
| 130.65 | 133.75 | 3.10 | 48 | 97 | 0.06 | 0.34 | 0.87 | |
| AL19-030 | 427.05 | 436.85 | 9.80 | 31 | 4 | 0.02 | 0.06 | 0.13 |
| 488.15 | 490.10 | 1.95 | 261 | 15 | 0.11 | 0.16 | 0.27 | |
| including | ||||||||
| 489.00 | 489.40 | 0.40 | 1100 | 59 | 0.38 | 0.27 | 0.58 | |
| AL19-031 | 338.65 | 345.70 | 7.05 | 65 | 1 | 0.12 | 0.20 | 0.53 |
| including | ||||||||
| 342.65 | 344.25 | 1.60 | 132 | 1 | 0.21 | 0.32 | 0.80 | |
| 363.45 | 363.85 | 0.40 | 150 | 11 | 0.02 | 0.03 | 0.22 | |
| 366.50 | 368.20 | 1.70 | 206 | 2 | 0.05 | 0.08 | 0.14 | |
| including | ||||||||
| 366.50 | 367.40 | 0.90 | 337 | 2 | 0.08 | 0.11 | 0.16 | |
| 373.20 | 375.90 | 2.70 | 142 | 4 | 0.04 | 0.16 | 0.27 | |
| including | ||||||||
| 374.30 | 375.20 | 0.90 | 307 | 7 | 0.08 | 0.23 | 0.37 | |
| 377.15 | 377.50 | 0.35 | 112 | 13 | 0.05 | 0.70 | 0.88 | |
| 381.80 | 383.10 | 1.30 | 97 | 30 | 0.08 | 1.67 | 2.95 | |
| 386.45 | 387.50 | 1.05 | 65 | 14 | 0.13 | 0.39 | 0.41 | |
| Hole | From (m) |
To (m) | Interval (m) / ETW (m) |
Ag g/t | Au ppb | Cu % | Pb % | Zn% |
|---|---|---|---|---|---|---|---|---|
| AL19-032 (Promontorio) |
199.25 | 199.55 | 0.3 | 64 | 213 | 0.05 | 1.59 | 5.14 |
| AL19-033 (Rosario) |
300.7 | 308.05 | 7.35 | 47 | 2 | 0.07 | 0.13 | 0.18 |
| AL19-034 (Promontorio) |
234.15 | 235.25 | 1.1 | 729 | 1730 | 0.13 | 3.05 | 5.73 |
| 235.25 | 241.15 | 5.9 | 16 | 86 | 0.07 | 0.31 | 1.35 | |
| AL19-035 (Púlpito-Cotera) |
||||||||
| 136.75 | 144.3 | 7.55 (6.0) | 43 | 29 | 0.03 | 0.05 | 0.14 | |
| 159.6 | 159.8 | 0.2 (0.2) | 367 | 6750 | 1.35 | 0.59 | 0.562 | |
| 213.45 | 228.25 | 14.8 (11.8) | 48 | 2 | 0.02 | 0.04 | 0.13 | |
| including | ||||||||
| 216.3 | 217.15 | 0.85 (0.7) | 294 | 9 | 0.23 | 0.38 | 1.41 | |
| 392.1 | 399.7 | 7.6 (6.1) | 155 | 17 | 0.1 | 0.51 | 0.44 | |
| including | ||||||||
| 395.15 | 399.15 | 4 (3.2) | 278 | 27 | 0.16 | 0.79 | 0.7 | |
| including | ||||||||
| 397 | 399.15 | 2.15 (1.7) | 470 | 25 | 0.2 | 0.71 | 0.96 | |
| AL19-036 (La Dura) |
395.5 | 397.45 | 1.95 | 56 | 8 | 0.11 | 0.13 | 0.02 |
| AL19-037 (Las Animas) |
353.5 | 354.55 | 1.05 (0.8) | 245 | 98 | 0.74 | 0.37 | 0.66 |
| including | ||||||||
| 354 | 354.55 | 0.55 (0.4) | 451 | 160 | 1.27 | 0.53 | 1.09 | |
| AL19-038 (Alessandra) |
||||||||
| 98.00 | 99.10 | 1.10 (0.6) | 12 | 137 | 0.06 | 1.81 | 4.22 | |
| 99.10 | 99.80 | 0.70 (0.4) | 1 | 3 | 0.95 | 0.11 | 0.31 | |
| 154.85 | 155.40 | 0.55 (0.3) | 9 | 22 | 0.01 | 0.68 | 2.58 | |
| 368.50 | 375.10 | 6.60 (3.3) | 9 | 15 | 1.94 | 0.46 | 1.49 | |
| including | ||||||||
| 369.05 | 373.25 | 4.20 (2.1) | 12 | 20 | 2.58 | 0.63 | 2.17 | |
| 399.55 | 402.50 | 2.95 (1.5) | 12 | 48 | 0.87 | 0.04 | 0.02 | |
| 419.85 | 432.95 | 13.10 (6.6) | 3 | 3 | 0.34 | 0.01 | 0.02 | |
| including | ||||||||
| 427.00 | 429.60 | 2.60 (1.3) | 8 | 10 | 0.74 | 0.01 | 0.03 | |
|
AL 19-039 (Alessandra) |
175.85 | 188.30 | 12.45 | 4 | 25 | 0.91 | 0.50 | 1.17 |
|
AL 19-040 (Alessandra) |
No Significant Results | |||||||
Phase II Results
Europa-Guadalupe Vein Zone
| Hole | From (m) |
To (m) | Interval (m) / ETW (m) |
Ag g/t | Au ppb | Cu % | Pb % | Zn% |
|---|---|---|---|---|---|---|---|---|
|
AL20-041 |
222.30 |
224.00 |
1.70 |
34 |
7 |
0.18 |
0.15 |
0.6 |
|
including |
||||||||
|
223.00 |
22.00 |
1.00 |
42 |
10 |
0.24 |
0.19 |
0.83 |
|
|
AL20-042 |
202.95 |
203.60 |
0.65 |
468 |
6 |
0.53 |
1.39 |
2.01 |
|
226.50 |
227.10 |
0.60 |
192 |
22 |
0.38 |
0.59 |
1.18 |
|
|
232.45 |
232.95 |
0.50 |
273 |
6 |
0.54 |
0.83 |
2.13 |
|
|
258.80 |
262.30 |
3.50 |
404 |
37 |
0.54 |
1.3 |
1.81 |
|
|
including |
||||||||
|
259.60 |
261.30 |
1.70 |
778 |
71 |
1 |
2.5 |
3.34 |
|
|
which includes |
||||||||
|
260.15 |
261.30 |
1.15 |
999 |
84 |
1.29 |
2.98 |
4.15 |
|
|
AL20-045 |
363.25 |
363.70 |
0.45 |
20 |
16 |
0.04 |
0.16 |
0.26 |
|
AL20-047 |
196.60 |
197.30 |
0.70 |
196 |
7 |
0.31 |
0.53 |
1.30 |
|
295.30 |
296.65 |
1.35 |
32 |
1 |
0.08 |
0.25 |
0.64 |
|
|
320.20 |
321.50 |
1.30 |
576 |
1 |
0.77 |
0.29 |
1.26 |
|
|
330.85 |
342.20 |
11.35 |
221 |
6 |
0.29 |
0.28 |
0.44 |
|
|
including |
||||||||
|
331.80 |
338.15 |
6.35 |
356 |
5 |
0.39 |
0.42 |
0.57 |
|
|
which includes |
||||||||
|
331.80 |
332.50 |
0.70 |
2090 |
24 |
1.98 |
2.51 |
2.43 |
|
Promontorio Vein Zone
| Hole | From | To | Interval | Ag g/t | Au ppb | Cu % | Pb % | Zn % |
|---|---|---|---|---|---|---|---|---|
| AL20-043 | 196.50 | 198.25 | 1.75 | 144 | 510 | 0.21 | 4.15 | 9.10 |
| including | ||||||||
| 197.50 | 198.25 | 0.75 | 212 | 591 | 0.28 | 8.54 | 15.85 | |
| 198.25 | 200.95 | 2.70 | workings | |||||
| 200.95 | 204.35 | 3.40 | 40 | 105 | 0.09 | 0.67 | 1.47 | |
| AL20-044 | 274.50 | 282.10 | 7.60 | 266 | 271 | 0.57 | 1.60 | 3.17 |
| including | ||||||||
| 275.50 | 278.40 | 2.90 | 636 | 495 | 1.36 | 3.85 | 7.18 | |
| which includes | ||||||||
| 277.50 | 278.40 | 0.90 | 1675 | 1375 | 4.15 | 8.47 | 11.35 | |
| AL20-046 | 119.60 | 120.25 | 0.65 | 502 | 37 | 1.82 | 0.21 | 0.10 |
| 142.50 | 144.40 | 1.90 | 65 | 285 | 0.12 | 0.53 | 1.47 | |
| 153.75 | 155.05 | 1.30 | 80 | 151 | 0.49 | 0.03 | 0.04 | |
| 156.60 | 157.30 | 0.70 | 115 | 2600 | 0.32 | 0.21 | 0.13 | |
| 176.90 | 182.00 | 5.10 | 769 | 108 | 0.76 | 0.04 | 0.07 | |
| including | ||||||||
| 178.90 | 182.00 | 3.10 | 1197 | 155 | 1.04 | 0.04 | 0.09 | |
| 185.00 | 189.10 | 4.10 | 37 | 623 | 0.16 | 0.34 | 0.86 | |
| AL20-048 | 256.60 | 262.60 | 6.00 | 54 | 51 | 0.08 | 0.25 | 0.39 |
| 298.50 | 300.50 | 2.00 | 83 | 24 | 0.06 | 0.36 | 1.08 | |
Drill Highlights Hole Data
| HOLE | WGS84, Zone 12N | Elevation | AZ | INCL. | FINAL DEPTH (m) | VEIN ZONE | ||
| Easting | Northing | |||||||
| AL17-001 | 697420.78 | 2994096.57 | 518.38 | 90 | -60 | 268.40 | Minas Nuevas | |
| AL17-007 | 695261.34 | 2990902.61 | 795.32 | 280 | -45 | 573.40 | Nva Europa/Europa | |
| AL17-008 | 695265.46 | 2990902.02 | 795.59 | 100 | -45 | 350.75 | Travesia/La Quintera | |
| AL18-011 | 696361.92 | 2989990.52 | 970.12 | 110 | -40 | 624.80 | Ana | |
| AL18-012 | 696242.46 | 2990140.66 | 980.92 | 270 | -40 | 707.60 | Tigre/Amalia | |
| AL18-014 | 693254.46 | 2986868.38 | 479.07 | 310 | -40 | 617.50 | El Creston | |
| AL18-015 | 693825.07 | 2991780.09 | 620.93 | 285 | -40 | 596.55 | San Jose | |
| AL19-018 | 694417.92 | 2990145.09 | 655.77 | 290 | -40 | 501.00 | Europa Sur | |
| AL19-020 | 694849.94 | 2989703.44 | 544.60 | 135 | -50 | 481.90 | Promontorio Sur | |
| AL19-023 | 695261.62 | 2990085.17 | 703.74 | 120 | -60 | 356.85 | Azulacas (Las Guijas) | |
| AL19-025 | 695472.14 | 2989747.79 | 796.74 | 270 | -40 | 576.45 | Promontorio Las Guijas | |
| AL19-035 | 696390.38 | 2993461.84 | 737.00 | 110 | -40 | 472.75 | Pulpito/Cotera | |
| AL19-037 | 697442.76 | 2991918.86 | 535.23 | 80 | -40 | 497.15 | Las Animas | |
| AL19-038 | 697148.49 | 2988441.99 | 1157.43 | 75 | -45 | 546.55 | Alessandra | |
