El Rey property
Location and geology :
The El Rey property is located 60 km north-northeast of Mazatlán, just south of the village of Coyotitan. It is easily accessible via Highway 15 and covers an area of 453 hectares. The rocks observed on the property are mainly volcanics of intermediate to felsic composition of the Tertiary Period. The gold and silver mineralization occurs in veins and stockwork.
The property hosts an old artisanal gold and silver mine (Mina Los Copales). It contains historical, non NI 43-101 compliant, resources estimated at 4,600 metric tons at 6.4 g/t Au and 116.7 g/t Ag
In addition, a highly silicified and argilitized zone lies west of the old mine. According to the metallogenic model proposed (Low-Sulphidation Epithermal System), this alteration zone could correspond to the silica and clay cap formed above the mineralized zone.
Epithermal modelRelevant previous work :
1992
Eighty-five (85) samples were collected inside the old mine. Among the most significant results:
Assay results and sample lengths are available in the following figure.
1998
A program of 20 RC drill holes was carried out in the area of the old mine and its southwestern extension. The most interesting intersections (not NI 43-101 compliant) are shown below:
ER-1: 3.1 Au g/t over 4 m
ER-4: 2.35 Au g/t over 6 m
ER-9: 7.39 Au g/t over 8 m
ER-11: 1.29 Au g/t over 10 m
ER-17: 1.21 Au g/t over 4 m and 1.0 g/t over 18 m
2008
A prospecting program and ground geophysical surveys (magnetometer and induced polarization) were conducted by Arianne Resources Inc. Among the most significant results:
The magnetometer and induced polarization surveys defined several anomalies that should be tested by future drilling.
In addition, tests of gold recovery by cyanidation were performed by Laboratoire LTM inc. of Val-d’Or, Québec, Canada. The ore (18 kg) was collected between the Los Cuates and La Blanca levels. The results were very positive, with a recovery in the order of 98%. The ore seems to be suited to any type of direct cyanidation process, whether Merrill-Crowe, CIP or heap leaching.
