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Taviche

  • Project Taviche
    Commodity Silver, Gold
    Nearest City 50 km southeast of Oaxaca City
    Nearest Major Mining Projects Fortuna Silver Mines' Silver/Gold San Jose Mine
    Development Stage Greenfields exploration
    Geology Epithermal-style Gold/Silver
    Land Package 986 has
    Exploration Highlights Hole HBE-03 intersected 34.2 m of 219.5 g/t Silver Equivalent
    Access & Infrastructure Excellent infrastructure with paved roads, power grid and mining labour force
    Project Interest Under option, acquired 80% interest with option to acquire remaining 20% interest

    Project

    Spanish records from the 16th century mention silver production by Zapotec miners in the Taviche district.  The first registered mining activity took place on veins in San Pedro Taviche in the 1830s.  From 1890 to 1913, several foreign and Mexican companies operated in the district before the Mexican Revolution brought production to a halt.  A small amount of silver was produced by reprocessing of mine dumps during the 1970s and MIOXSA had small amount of production from mines in the western part of the Taviche district during the 1980s and 1990s. 

    Panamerican Silver began studies of the district in 1999 and acquired concessions in the district in 2001 and 2002.  Intrepid Mines and Aura Silver Resources entered into a joint-venture agreement with Panamerican on the Taviche project in 2006.  Aura Resources took over the joint venture in 2010.  Fortuna Silver has operated the neighbouring San José mine in the taviche district since 2006.

    Project terms to aquire remainder 20% is CDN $1,000,000 cash.

  • In the Higo Blanco concession area, a 7 km-long, NW-trending set of veins and vein breccias is emplaced into silicified Cretaceous sediments and Cretaceous-Tertiary volcanic rocks.   The silicified limestone breccias contain anomalous gold, silver, arsenic, and antimony. 

    Exposures at Higo Blanco appear to be at high levels of a low sulfidation epithermal vein system. 

    Modern exploration on the Higo Blanco concession has consisted of geological mapping, geochemical surveys (soil, and surface and trench rock samples), ground-based geophysics (magnetics and induced polarization) and a 35-hole, 7,987-m diamond drilling program.  Exploration has concentrated on the Higo Blanco jasperoid prospect, a 7 kilometre-long trend of silicified limestones that are variably mineralized at surface with silver minerals with Au potential at depth.

    Exploration drilling by Aura included two discovery holes at the Higo Blanco prospect which intersected 12.1 m of 533.4 g/t Ag equivalent in hole HBET03-09 and 36.6 m of 303.9 g/t Ag equivalent in HBET16-09. Two step-out holes, HBET28-09 & HBET29-09, were drilled to the northwest of the discovery holes and found wide intervals of Au and Ag mineralization. HBET29-09 cut 122.65 m of 0.16 g/t Au and 23.1 g/t Ag (or 30.9 g/t Ag equivalent), including 57.45 m of 41.1 g/t Ag. HBET28-09, drilled due west from HBET02-09 and 125 m northwest of HBET03-09, contains shorter intervals but with Ag grades of up to 230.0 g/t with the best interval containing 5.8 m of 89.8 g/t Ag.  Please see Aura Resources Inc news releases dated January 20, 2011; May 24, 2011.

  • Highlighted drilling results by Aura Resources Inc. include:

    • HBET 03 - 12.1 Meters – 533 g/t Silver Equivalent
    • HBET 02 - 11.6 Meters – 166.3 g/t Silver Equivalent
    • HBET 16 - 36.6 Meters – 36.6 metres of 292.3 g/t Ag or 303.9 g/t Silver Equivalent
    • HBET - 01 - 29.55 Meters - 0.50 g/t Gold
    • HBET - 02 - 9.80 Meters - 0.87 g/t Gold
    • HBET - 03 - 14.10 Meters - 0.54 g/t Gold
    • HBET - 11 - 8.95 Meters - 0.50 g/t Gold
    • HBET - 15 -10.55 Meters - 0.51 g/t Gold
    • HBET - 22 - 15.50 Meters - 0.69 g/t Gold
    • HBET - 24 - 8.35 Meters - 2.05 g/t Gold
    • HBET - 26 - 22.00 Meters - 0.54 g/t Gold
    • HBET - 27 - 23.15 Meters - 0.85 g/t Gold

    Please see Aura Resources Inc news releases dated January 20, 2011; May 24, 2011.

    Drill Highlights Hole Data

    Hole # Northing Easting Azimuth/Inclincation Total Depth (m Location
    HBET01-09 1,841,108 764,440 225/-60 60.8 HW Mezcal
    HBET02-09 1,841,169 764,498 225/-60 175.4 HW Mezcal Vein
    HBET03-09 1,841,105 764,559 225/-60 166.7 HW Mezcal
    HBET11-09 1,840,993 764,447 45/-44 221.55 FW Mezcal Vein
    HBET15-09 1,841,526 764,156 225/-60 256.1 SW C. La Mina
    HBET16-09 1,841,106 764,564 180/-65 234.3 HW Mezcal Vein
    HBET22-09 1,841,107 764,565 260/-60 212.9 HW Mezcal Vein
    HBET24-09 1,841,418 764,017 45/-50 217.75 NW Mezcal Zone
    HBET26-09 1,841,082 764,611 225/-45 200.3 HW Mezcal Vein
    HBET27-09 1,841,117 764,644 225/-56 338.3 HW Mezcal Vein

     

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