Scribd Logo
Upload

Welcome to Scribd!

  • 41 views

    Pdac 2013 El Rayo

    Uploaded by

    sav17
    The document summarizes an exploration project at El Rayo, a primary silver deposit in Jalisco, Mexico. It details the project's history of mining since the 1500s. Recent drilling has defined an NI 43-101 compliant resource of 77.4 million ounces of silver across three deposits. The largest deposit, Las Bolas, contains 59 million ounces of silver. Mineralization consists of low-sulfidation epithermal quartz-specularite veins with silver, lead and arsenic. Future work aims to expand resources and understand the relationship between two distinct mineralization styles in the district.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PDF, TXT or read online from Scribd

    Pdac 2013 El Rayo

    Uploaded by

    sav17
    41 views26 pages
    The document summarizes an exploration project at El Rayo, a primary silver deposit in Jalisco, Mexico. It details the project's history of mining since the 1500s. Recent drilling has defined an NI 43-101 compliant resource of 77.4 million ounces of silver across three deposits. The largest deposit, Las Bolas, contains 59 million ounces of silver. Mineralization consists of low-sulfidation epithermal quartz-specularite veins with silver, lead and arsenic. Future work aims to expand resources and understand the relationship between two distinct mineralization styles in the district.

    Copyright

    © Attribution Non-Commercial (BY-NC)

    Available Formats

    PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    The document summarizes an exploration project at El Rayo, a primary silver deposit in Jalisco, Mexico. It details the project's history of mining since the 1500s. Recent drilling has defined an NI 43-101 compliant resource of 77.4 million ounces of silver across three deposits. The largest deposit, Las Bolas, contains 59 million ounces of silver. Mineralization consists of low-sulfidation epithermal quartz-specularite veins with silver, lead and arsenic. Future work aims to expand resources and understand the relationship between two distinct mineralization styles in the district.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    41 views26 pages

    Pdac 2013 El Rayo

    Uploaded by

    sav17
    The document summarizes an exploration project at El Rayo, a primary silver deposit in Jalisco, Mexico. It details the project's history of mining since the 1500s. Recent drilling has defined an NI 43-101 compliant resource of 77.4 million ounces of silver across three deposits. The largest deposit, Las Bolas, contains 59 million ounces of silver. Mineralization consists of low-sulfidation epithermal quartz-specularite veins with silver, lead and arsenic. Future work aims to expand resources and understand the relationship between two distinct mineralization styles in the district.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    You are on page 1of 26

    EL RAYO

    A Unique Primary Silver Deposit in Jalisco, Mexico


    by: Steven T. Priesmeyer, Simon Meldrum, Manuel Aragn Arreola and Patrick Toth

    Disclaimer
    This presentation contains projections and forward looking information that involve various risks and uncertainties regarding future events. Such forward-looking information can include without limitation statements based on current expectations involving a number of risks and uncertainties and are not guarantees of future performance of the Corporation. These risks and uncertainties could cause actual results and the Corporations plans and objectives to differ materially from those expressed in the forward looking information. Actual results and future events could differ materially from anticipated in such information. These and all subsequent written and oral forward-looking information are based on estimates and opinions of management on the dates they are made and expressly qualified in their entirety by this notice. The Corporation assumes no obligation to update forward-looking information should circumstances or managements estimates or opinions change.

    Soltoro Projects

    Puerto Vallarta

    Slide 6

    El Rayo Primary Silver Project: History

    Discovered by the Spanish in 1546; worked sporadically until 1970 National Mining Reserve from 1970 to 1981 Acquired by Summex Mines Ltd in 1990s Staked by Soltoro in 2005; drilling underway by 2007 312 drill holes totaling 53,205 m

    El Rayo Primary Silver Project: NI 43-101 Resource, January 2012


    Deposit Area Las Bolas Las Bolas Highway Zone La Soledad Las Bolas, Highway Zone & La Soledad Cut-off grade (silver g/t) Tonnes (millions) Average Grade (silver g/t) Contained ounces of silver Measured Mineral Resources 20 6.1 63.4 12,400,000 Indicated Mineral Resources 20 29.3 49.5 46,600,000 20 2.9 57.4 5,400,000 20 3.9 104.2 13,000,000 TOTAL MEASURED AND INDICATED MINERAL RESOURCES 20 42.2 57.1 77.400,000

    Inferred Mineral Resources Highway Zone La Soledad 20 20 0.21 0.37 36.34 82.15 45,000 935,000

    TOTAL INFERRED MINERAL RESOURCES Highway Zone & La Soledad 20 0.58 65.51 1,180,000

    Notes: 1. CIM definitions were followed for Mineral Resources. Mineral Resources were estimated using prices of US$27/oz Ag. No credits are assigned for other metals. 2. Metallurgical recovery is assumed to be 72% of the contained silver for the Las Bolas deposit and Highway Zone, and 80% for Soledad. 3. High silver values are cut to 400 g/t Ag. 4. Mineral Resources were estimated using a pit discard cut-off grade of 20.8 g/t Ag for the Bolas and Highway deposits, and 18.72 g/t Ag for La Soledad deposit. 5. The numbers for tonnage, average grade and contained ounces of silver are rounded figures. 6. The Las Bolas, La Soleded and Highway Zone deposits are modeled at a minimum of 5 m vertical thickness of mineralization. 7. The above resources are in-pit resources and constitute 87% of total resources within a conceptual open pit for the 8. The above resources are constrained by a Whittle optimized pit shell and constitute 87% of total resources within a conceptual open pit for the Bolas Structure, 89% of total resources for La Soledad Structure, and 64% for the Highway Zone.

    El Rayo Primary Silver Project: Mexican Silver Belt


    Located in belt prospective for epithermal deposits First Majestics San Martin Mine in northern Jalisco Soltoro has acquired seven of 12 historic mining districts in Jalisco State Jalisco underexplored; currently undergoing an exploration renaissance

    El Rayo Primary Silver Project: Regional Activity


    Soltoro Partners Argentum Silver Gold Reserve Active Exploration Companies Cayden Resources/ Grupo Mexico Golden Minerals Endeavour Silver Silver Predator Santana Minerals Minera Atengo First Majestic Cliffs/Riverside IOCG Alliance

    El Rayo Primary Silver Project: M&I in-pit 77.4M oz resource

    La Soledad Deposit
    13 million oz. Ag

    Las Bolas Deposit


    59 million oz. Ag

    El Rayo Au Deposit Highway Zone Deposit


    5.4 million oz. Ag

    Catarina Mine

    Sacramento-El Ocote-Nueva Suerte Mines


    7

    El Rayo Primary Silver Project: Geology

    El Rayo Primary Silver Project: Structures within Magnetics


    North-northeast-trending structures (Las Bolas)

    Deposit Area

    East-west-trending structures (La Soledad) Northwest-trending structures (Catarina & El Rayo Au) Northeast-trending structures Main district located at intersection of NNE, E-W & NW structures

    El Rayo Primary Silver Project: Las Bolas Deposit


    Las Bolas Deposit

    Favorable topography, access and infrastructure 1,200 m of strike length Fault blocks generally downdropped to the north


    Matachines Mine

    La Soledad Deposit

    La Soledad Fault

    10

    El Rayo Primary Silver Project: Las Bolas Geochemistry Section 30775


    1500

    Hanging Wall Ag-Zn Envelope of quartz veining

    Ag Pb Zn

    1400

    Shallow mineralization
    (early)

    Mo

    1300

    Footwall mimetite- bearing quartz vein-breccia and rhyodacitic dikes


    0 metres 100

    1200

    Deep mineralization
    (late)

    11

    QUILA GOLD El Rayo Primary Silver Project: COPPER PROJECT Las Bolas Longitudinal Section (looking NW)
    SW NE

    Ag-H
    Plume 4

    Ag Cu
    Plume 3 Plume 2 Plume 1

    As

    12

    El Rayo Primary Silver Project: Las Bolas Mineralogy


    Gangue Mineralogy
    Abundant

    Sulphide Mineralogy
    Abundant

    Quartz (SiO2) Specularite (Fe2O3)


    Common

    Acanthite (Ag2S) Mckinstryite (AgCu)2S Aguilarite (Ag4SeS)


    Minor

    Mimetite (Pb5(AsO4)3Cl) Vanadinite (Pb5(VO4)3Cl)


    Minor

    Calcite (CaCO3) Barite (BaSO4)

    Galena (PbS) Sphalerite (ZnS) Chalcopyrite (CuFeS2) Pyrite (FeS2) Hawleyite (CdS) Greenockite (CdS)

    13

    El Rayo Primary Silver Project: Las Bolas Mineralization

    Ray12-152 At 286 m depth: 100 g/t Ag & 0.07% Pb 3 cm

    Ray12-152 At 321 m depth: 535 g/t Ag & 22.7% Pb 3 cm

    14

    El Rayo Primary Silver Project: Las Bolas Mineralization History


    Early, higher temperature Pb-As-VAg-Mo event Later, lower temperature Ag-Pb-Zn event Later event coincident with brecciation of earlier mimetite-bearing mineralization and recementation by silica and specularite 3 cm

    15

    El Rayo Primary Silver Project: Las Bolas Alteration


    From earliest to latest: Propylitic alteration (epidote-chlorite-quartz) bordered by subpropylitic alteration (smectite-chlorite-calcite) along veins Sericite alteration of plagioclase Hematite alteration of Fe-bearing minerals Argillic and minor advanced argillic (dickite filling open spaces) Carbonate alteration closely associated with late cross-cutting andesite dikes

    16

    El Rayo Primary Silver Project: Las Bolas Hematite Alteration


    Specularite in veinlets Earthy hematite replacing olivine, pyroxene, magnetite, ilmenite and chlorite Pervasive replacement of groundmass by earthy hematite

    17

    El Rayo Primary Silver Project: Styles of Epithermal Mineralization


    Catarina-style: Low Sulphidation Epithermal Quartz-carbonate gangue; very minor hematite; Fe as pyrite; no associated mimetite or vanadinite Ag-Pb-Zn sulfides common with lesser sulfosalts Pb, Cu, Zn, Mo, Bi, Ag Au

    3 cm

    Las Bolas-Style: Low Sulphidation Epithermal Quartz-specularite gangue with mimetite and vanadinite Ag as Ag sulfides with traces of Pb-Zn-Cu sulfides Hematite alteration common Ag, Pb, As, Sb, Ba, V Cu, Zn

    3 cm

    18

    El Rayo Primary Silver Project: Las Bolas Geochemistry

    Ag

    Anomalous Elements
    Ag As (at depth) Sb Pb Ba K Minor Mo (at depth) Cu, Zn and V Depleted Elements Na Ca Mg P

    19

    El Rayo Primary Silver Project: Las Bolas Geochemistry

    As

    Sb

    20

    QUILA GOLD El Rayo Primary Silver Project: COPPER PROJECT Las Bolas Geochemistry

    Ba

    21

    El Rayo Primary Silver Project: Contrasting Epithermal Mineralization


    TYPICAL LOW SULPHIDATION EPITHERMAL Host Rocks Igneous Association Geochemical Signature andesite to rhyolite felsic intrusions, domes Au, Ag, Pb, Zn, Cu, Mo, As, Sb, Hg electrum, acanthite, Ag-sulfosalts, sphalerite, galena, tetrahedritetennantite, chalcopyrite, selenides, tellurides <1-2 vol. % quartz, chalcedony, calcite, adularia, illite, chlorite, barite, pyrite, Mncarbonates and/or Mn-silicates supergene propylitic to argillic LAS BOLAS-TYPE LOW SULPHIDATION EPITHERMAL olivine basalt, basaltic andesite rhyodacite domes, dikes Au, Ag, Pb, Zn, Cu, Mo, As, Sb, Hg, Ba, V

    Ore Minerals

    acanthite, mckinstryite, aguilarite, galena, sphalerite <1 vol.% quartz, specularite, mimetite, vanadinite, barite hypogene propylitic, sericitic, hematitic, argillic 22

    Sulphide Abundance

    Gangue Minerals

    Nature of Oxidation Alteration

    El Rayo Primary Silver Project: Summary


    El Rayo Measured & Indicated in-pit resource of 77.4 million ounces of silver; 59 million ounces occur in the Las Bolas deposit Multi-event low sulphidation system consisting of stockwork and vein-breccia Silver mineralization related to quartz-specularite and specularite veinlets Low total sulphide; trace amounts of Pb, Zn and Cu sulphides Gangue mineralogy dominated by quartz and specularite with mimetite and vanadinite Alteration consists of propylitic, sericitic, hematitic and argillic alteration along with limited silicification Two distinct events: higher temperature Pb-As-V-Ag-Mo followed by lower temperature Ag-Pb-Zn

    23

    El Rayo Primary Silver Project: Where to Next?


    Continue to expand resource at Las Bolas Northeast and La Soledad West Define sulphide-rich mineralization at depth at Las Bolas Refine interpretation of fault offsets in order to locate additional resource; detailed structural analysis Expand existing Au resource in El Rayo zone Indicated: 380,000 tonnes @ 1.85 g/t Au containing 22,600 oz. Au Inferred: 365,000 tonnes @ 1.61 g/t Au containing 18,900 oz. Au Follow-up regional geophysical and geochemical anomalies Increase understanding of district-scale mineralization Why two distinct styles of mineralization? o Isotopic study o Age dating
    24

    Adding Resources Adds Value !


    Thanks
    Soltoro Ltd: 20 Adelaide Street East, Suite 400 Toronto, ON M5C 2T6 Tel: 416 987 0722

    SOLTORO FUNDING GOES INTO THE GROUND!

    www.soltoro.com
    25

    You might also like