Gold Mineralization With Positive Drill Results from the 1990s
100% EXMIN
Introduction
EXMIN has identified a large area of gold mineralization at San Rafael de Oribo, and acquired 1,125 hectares in seven claims covering the area. EXMIN then staked 50,000 hectares surrounding the acquired claims. EXMIN’s new 100%-owned Oribo project land package covers more ground to the north, along the mineralized trend, and abuts another of EXMIN’s 100%-owned district-scale claims in Arechuivo, where the 36,316-hectare Arechuivo project geology is characterized by Mesozoic limestone intruded by granodiorite and local occurrences of skarns.
EXMIN is preparing for initial exploration drilling at Oribo, planned for 2008.
Summary
- Optioned 7 concessions covering 1,125 hectares
- Staked 50,000 hectares around optioned concessions
- Located 23 km west of Monterde (Kimber Resources), and 25 km north of the Plamarejo district (Palmarejo Gold) and the San Miguel discovery (Paramount Gold)
- 1.5 km by 200 m open-ended gold soil anomaly defined by Manhattan Minerals in the 1990’s
- Gold mineralization hosted mainly by altered and brecciated carbonate rocks and local skarn near the contact with an intrusive body
- Of 102 samples taken by EXMIN, 38 assayed more than 1 g/t Au and averaged 6.8 g/t Au.
- In the 1990s, Manhattan drilled 10 core holes with three significant intercepts:
- 29.6 m of 1.46 g/t Au
- 3.96 m of 2.03 g/t Au
- 5.79 m of 2.15 g/t Au
Geology
Exploration work carried out on the properties by EXMIN identified gold mineralization over a large area measuring 1.5 km by 0.5 km in strongly silicified and brecciated carbonate rocks with abundant iron oxides and local skarn occurrences. Rock chip samples yielded significant gold values in several exposures; individual rock chip samples reported gold values of as much as 30.7 grams per metric ton (g/t) and contiguous rock chip samples yielded the following intervals:
- Las Minitas, 7.4 m of 4.7 g/t Au within a wider zone of 25 m of 2.1 g/to Au
- San Antonio Obra #2, 12.3 m of 5.2 g/t Au and 10.7 m of 5.5 g/t Au
- Las Minitas arroyo, 5.9 m of 7.9 g/t Au, and
-
San Rafael
arroyo, 3.8 m of 8.7 g/t Au.
