• Overview
  • Location, Infrastructure, and History
  • Geology and Mineralization
  • Mineral Deposits
  • Drill Sections

Overview

Mexican Gold Mining Corp. controls the entire core of the once-famous Las Minas historic mining district. The canyons of Las Minas (‘mines’ in Spanish) were renowned for their rich copper-gold skarn and vein gold deposits. Applying modern mineral exploration and mining methods in historic mining districts has been a recipe for multiple successes in the two decades since Mexico began opening up to foreign investment.

2 x Deposits

Gold-Copper

Vast volumes of material which could never have been found, accessed or economically mined with small scale mining operations are now mined as high-grade ore throughout the country. This is the model that Mexican Gold Mining Corp. is well-positioned to develop.

The Las Minas project presently has two gold-copper deposits in advanced-stage exploration, and multiple high-quality, exploration targets. The project area features complete infrastructure, a highly prospective package of regional geology to allow for years of expansion opportunities, a local community enthusiastic for economic development.

Some typical drill results from Las Minas:

Santa Cruz Zone

  • 3.57 g/t Au Eq over 99.0 metres in LM-14-SC-08, including
    • 7.42 g/t Au Eq over 39.0 metres , including
      • 24.11 g/t Au Eq over 9.60 metres
  • 2.24 g/t Au Eq over 87.0 metres in LM-14-SC-07 , including
    • 3.13 g/t Au Eq over 49.0 metres, including
      • 4.36 g/t Au Eq over 25.0 metres
  • 3.00 g/t Au Eq over 29.0 metres in LM-14-SC- 09 , including
    • 5.00 g/t Au Eq over 15.0 metres
  • 1.90 g/t Au Eq over 77.0 metres in LM-14-SC-10, including
    • 5.1 g/t over 19.0 metres, including
      • 6.2 g/t over 15.0 metres

Location, Infrastructure, and History

The Las Minas mining region has been active for centuries. Malachite staining in the white marble cliffs would have been obvious to the earliest observers. Documentation and ruins of mining facilities and former town-sites remain from the early 1800’s. Despite the long history, modern exploration only dates back a decade. Source Exploration initiated diamond drilling in the region in 2011, and the first geophysical surveys in 2012.

The Las Minas project is located 16 km from a high-speed toll highway and rail corridor at Cruz Blanca junction, which by road is another 240km east of Mexico City and 150km west of the port city of Veracruz. The town of Perote (pop. ~35,000) is 10 km from Cruz Blanca and has most supplies and services available. Las Minas village, with 600 inhabitants, supplies plentiful local labour.

Within the resource area, there is a small hydroelectric facility supplied by steel penstock tubes from a reservoir several hundred metres up the ridge. Rural roads provide access to much of the claim area. There is abundant water in the creeks 12 months a year which is free to use. Almost all the land on the claim is privately owned rather than being part of the ejido system and there has been no trouble with surface access. The company owns the land over and above the Santa Cruz deposit.

Geology and Mineralization

The Las Minas area is located at the intersection between the Sierra Madre Oriental volcanic province and the Trans-Mexican Volcanic Belt. The region is locally underlain by a Cretaceous carbonate platform which has been intruded by mid-Tertiary (and younger) sills and dikes. The cretaceous rocks have been covered by up to 200 metres of pyroclastic flows, mostly related to the Trans-Mexican Volcanic Belt, which lies on the southern flank of the region. The whole is underlain by a proterozoic crystalline basement of generally high metamorphic grade.

geology-map

Au-Cu-Ag-Magnetite skarn

The predominant Au-Cu-Ag-magnetite skarn is described in detail in the Las Minas Deposits section. Most of the larger historic mines targeted this deposit type. It occurs both on sill and dike contacts where it is respectively thicker or richer. The sill-contact mineralization is centred around the intersection line of steep structures within the carbonate and the contact. Another environment (Santa Cruz, San Antonio) appears as lateral ‘flares’ in prepared ground attached to the interpreted stock complex.

El Dorado

The El Dorado deposit is a consistent, single, flat lying sheet of Au-Cu-(Ag)-magnetite skarn developed on the sub-horizontal contact between the carbonate platform and the regionally extensive dioritic sill described above. The zone is lenticular in cross-section E to W, and has been drilled over an area of >650 by >420m. There is very little variation in the mineral distribution, textures and zoning at El Dorado; only the thickness (4 to 60m, generally 12-30m) and grade varies.

The mineralization is almost entirely confined to prograde garnet-(pyroxene) exoskarn, with ore minerals chalcopyrite +/- bornite replacing magnetite or interstitial to coarse garnet grains. Magnetite occurs massive and as well-defined, sub-planar, contact-conformable, centimetric bands in massive garnet or less commonly as randomly curving banding in diopside. Pyrite is a rare, post mineral phase; pyrrhotite and sulfarsenides are not present. Above the very sharp exoskarn front, the carbonate is invariably marble, with only proximal (<10m) and weak calc-silicate alteration. A common feature directly above the deposit is irregularly distributed late to post-mineral -stage hydrothermal breccia, which penetrates intermineral dioritic and endoskarn dikes and sills as well as marble.

The breccia is generally matrix-supported in brown to green to red fe-carbonate + hematite, and shows multiple stages of activation, and some dissolution textures when in marble. It very rarely contains anomalous Au values.

  • Overview
  • Location, Infrastructure, and History
  • Geology and Mineralization
  • Mineral Deposits
  • Drill Sections

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