Placeres del Oro Project
Summary: The Placeres del Oro project is located in the Tierra Caliente region of western Guerrero, immediately northeast of the Puerto del Oro gold district, and approximately 100 km WNW of the Guerrero Gold Belt. The project covers a potential porphyry-skarn copper-gold deposit. (see map)
Minas Año Tres Mil, S.A. de C.V. (MATM) is looking to option 100% of the project.
Background: MATM owns approximately 3,400 hectares of mining concessions and concession applications covering part of a porphyry-skarn copper-gold district. The district is near the southeastern end of what has historically been known as the Michoacan-Guerrero copper belt (see map). Major companies that have previously explored portions of the district include BHP, Peñoles, Independence Mining, Cambior, Noranda and Placer Dome. Previous gold production from the adjacent Puerto del Oro and Placeres del Oro gold districts is reported to have reached two and a half million ounces.
Geology and Potential: Copper-gold mineralization is related to a Laramide(?) medium-grained composite stock. The bulk of the stock is tonalite, which is intruded by slightly porphyritic quartz monzonite. Porphyry-type copper-gold mineralization has been found related to K-feldspar altered tonalite and the quartz monzonite. Fifty five rock chip samples taken over two outcrops of this mineralization just outside MATM’s concessions averaged 7,056 ppm Cu and 482 ppb Au. Hornfels and skarn have been developed around the stock, and reportedly contain significant concentrations of gold in at least one area.
El Espinal gossan over a skarn zone near the contact.
The potential is to find either a copper-gold porphyry deposit or a gold skarn. Current resources in the Guerrero Gold Belt some 100 km to the East are approximately 15 million ounces of gold contained in skarn.
Agreement: MATM owns 100% of the concessions and concession applications, with some of the concessions burdened by a capped 2% NSR. MATM is looking to option 100% of the project, subject to a NSR. A geologic report and data package is available on signing a confidentiality agreement.
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