Kootenay Reports Priority Targets in SonoraBy MBN Staff | Mon, 06/29/2020 - 17:20
Kootenay Silver reports promising developments at the Cervantes porphyry gold-copper property in Sonora. The announcement highlights the final interpretation of a 3D IP-Resistivity survey identifying multiple chargeability anomalies over a 5km-long corridor in the property.
Cervantes is in the process of becoming a joint venture (JV) between Kootenay (35 percent) and Aztec Minerals (65 percent). As described by Aztec, “Cervantes is a highly prospective porphyry gold-copper-molybdenum property located 160km east of Hermosillo. It is well-located within the Laramide porphyry belt approximately 265km southeast of the huge Cananea porphyry copper-molybdenum mine of IMMSA and 55km west of the Mulatos epithermal gold mine of Alamos.”
Aztec goes on to say that it completed “a Phase 1, 17 diamond core hole program in 2018 of 2.675km in total. The drilling was conducted on 2 targets, the California and Jasper. However, the bulk of work was completed at California. Holes tested 900m by 600m gold in soils anomaly that averaged 0.44gpt over hydrothermal breccias, quartz feldspar porphyry intrusive and Paleozoic siliciclastic sediments. Every hole in the Phase 1 drill program intersected porphyry-type gold-copper-silver mineralization and most holes collared in outcropping mineralization.”
The JV falls within Kootenay’s growth strategy. James McDonald, Kootenay’s CEO, commented on this during an interview with Mexico Business News: “There are many possibilities for us, including selling some of our assets or partnering with other companies. The main factor, however, is that (metal) prices increase. Now that we have control of a few potentially high-grade projects, we are just watching (prices) closely.”
Kootenay’s announcement mentions that “numerous IP anomalies are associated with the previously mapped and sampled porphyry corridor that extends at least 5km long and up to 2km wide from the California zone southwest through the Jasper, Estrella, Purisima East and Purisima West targets.”
“Six porphyry prospects along the corridor exhibit strong porphyry alteration and gold (copper) mineralization within and adjacent to outcropping quartz-feldspar porphyry intrusions and diatreme breccias. Because the IP anomalies are closely associated with the mapped porphyry style mineralization, it is interpreted they may reflect buried sulfides (potentially gold and copper bearing) typical of porphyry-type mineralization.”
“Our geological mapping and geochemical sampling delineated five mineralized porphyry targets southwest of the main California target. This new 3D IP data gave us more than we had hoped for in defining several strong and large chargeability anomalies that coincide with our geological and geochemical targets. None of the Jacobo, Purisima West, Purisima East and Estrella targets have ever been drill-tested,” said Joey Wilkins, Aztec’s CEO and President.