Property Description
The Santa Catarina massive sulphide gold property (“Santa Catarina Property”), consisting of two mineral concessions covering 142 hectares, is located near the village of Santa Catarina in Sinaloa State, Mexico. The mineralized area (primarily pyrrhotite with minor chalcopyrite) hosts gold values that range from 6.8 to 17.1 grams per tonne gold across an apparent width of 20 metres. The property is at an early stage of exploration and development.
The mineral concessions are held by Minera Montana R.L. de C.V. (“Minera Montana”), a wholly-owned Mexican subsidiary of Oremex Resources Inc.
Location & Accessibility
The Santa Catarina massive sulphide gold deposit is located near the village of Santa Catarina, State of Sinaloa, Mexico. Santa Catarina is 71 kilometers by road from Mazatlan. Access is via Mexico Highway 15 south 26 kilometres to the village of Villa Union, then left on Mexico Highway 40, a distance of 21 kilometres to the village of Concordia. At Concordia, travel north on paved road 12 kilometres to the road to Santa Catarina, then on a gravel road for 6 kilometres to the village of Santa Catarina. The property is 5.2 kilometres beyond the town.
The Santa Catarina deposit is located in the foothills of the western slope of the Sierra Madre Occidental. The terrain is steep, but not canyon country. The vegetation is very thick and would require line cutting to do any geologic or geophysical work. The climate is warm most of the year. The property is easily accessible year round.
Recent Activity
Oremex announced that it had acquired 100% interest in the Santa Catarina Property on May 11, 2007. The property was purchased outright for a purchase price of MP $200,000 (CDN $21,000) and back taxes of MP $25,000 (CDN $2,625). The property was originally acquired by Minera Montana S. de C.V. in May 2007. In September 2007, Oremex finalized its acquisition of Minera Montana and its portfolio of properties in Mexico and plans an assessment of this project during the fourth quarter of 2007.
Topography & Geology
The Santa Catarina Property is a massive sulphide deposit consisting of primarily pyrrhotite with minor chalcopyrite. It carries gold values that range from 0.24 ounces to 0.55 ounces per tonne across a width of 20 metres. The property has an outcrop length of 35 metres. Outcrops at the Santa Catarina Property are a chlorite schist and a quartz-sericite schist. The massive sulfide lies along the contact of these rocks and is 20 metres wide by 35 metres long in outcrop. The massive sulfide consists of pyrrhotite and chalcopyrite. Pyrrhotite is the most abundant mineral with chalcopyrite constituting less than 1% of the deposit based on visual examination (one assay for copper ran 0.1% Cu). The property also contains minor accessory calcite.
The massive sulfide appears to strike northeasterly and dips vertically. It is parallel to the ridge formed by the contact of the chlorite schist and the quartz-sericite schist. Evidence of further mineralization exists along the ridge to the northeast.
History & Previous Workings
Little is known about the history of the property. The property first came to the attention of A.J. Holter in 1979. Holter took four samples of the surround rock and the results ranged 0.58 ounces per tonne gold. In February 1986, Holter revisited the property and took another sample that ran 0.24 ounces per metric ton gold. In May 1986, G.W. Fenton and D. Scholz took four more samples. The average of the four samples was 0.038 ounces per tonne gold.
Old diggings at the property indicate minor production from the Santa Catarina Property. Old surface workings crosscut the massive sulfide to a five metres depth and the deposit from north to south. Gambusinos worked the oxidized portion of the deposit and no further exploration work has ever been done with the sulfide deposit.
The most important mines in the area of the Santa Catarina are in the Copala and Panuco silver districts, which were active as early as 1804 and were still active in 1906. Other mining districts in the region include: San Jose de Gracie, Calabacilla, Potrero, Palmarito, Guadalupe de Los Reyes, Candelaria, San Luis, El Tajo, Protectora and Duende. All produced high grade silver and gold.
Technical Reports
No Technical Report has been filed on the Santa Catarina Property. |
