Location:
Central Sonora State, 140 km north northeast of the city of Hermosillo and approximately 75 km southwest of the Cananea porphyry copper mining district within the northern Mexico copper-molybdenum porphyry belt.
Deposit Model:
Copper-silver-zinc-gold skarns and low sulphidation silver-lead veins associated with a central porphyry.
Ownership:
50% Yale Resources Ltd. -- 50% Del Toro Silver Corp.
Status:
Optioned to Del Toro Silver Corp., who have the right to earn up to 80%.
Summary:
The Dos Naciones Property was staked by Yale and is an early stage exploration project with small scale historic production in numerous areas of skarn mineralization and lead-zinc-silver veins. Copper-silver-zinc-gold skarns have been the focus of most exploration work to date however; low sulphidation silver-lead veins have seen historic production in two locations. In addition there is the potential for the property to host a porphyry.
Peñoles worked in the area in the 1990's performing mapping, geophysics and limited drilling.
Geology:
The property is host to multiple skarn bodies that occur on the eastern and southern margins of a regional low magnetic anomaly that measures 2 km in diameter. The anomaly coincides with an intrusive body with multiple strongly altered exposures that contain disseminated pyrite and local galena.
In addition there are several areas with historical mines that exploited high grade silver-lead veins.
Results:
The Josefina silver-lead target, located at the geographic centre of the property, consists of a series of sub-parallel veins ranging from 0.5 to 3.0 metres in width. The veins have been traced over a strike length of at least 250 metres and the target remains open in all directions. A total of six reconnaissance samples were taken with three of them being from vein, one from the dump (quoted above) and two from altered host rocks. One of the outcrop samples returned 111.0 g/t silver over 1.9 metres.
The second new target area within the property is located two kilometres to the southwest. A set of silver-lead veins occur within intrusive host rocks over an area that measures approximately 100 metres wide. There are numerous historic mines on at least two levels with a majority of these workings having collapsed over time. Two samples were taken from the mineralized dumps at the mouths of these workings: one returned 256.0 g/t silver and 4.45 % lead while the second returned 182.0 g/t silver and 3.29 % lead as well as 0.61 g/t gold.
The eastern skarn forms a hill measuring 200 by 150 metres and is 50 metres high. This hill has several workings around its edges as well as several small open cuts throughout. The western skarn has been traced on surface for 70 metres and averages 12 metres in width. This zone appears to be in contact with the intrusive and thus the depth potential could be significant. The list below shows results from the targets to date:
Sample |
Target |
Type |
Width (m) |
Cu (%) |
Au (g/t) |
Ag (g/t) |
464319 |
Eastern skarn |
Chip channel |
2.0 |
0.71 |
0.15 |
12.4 |
464321 |
Eastern skarn |
Chip channel |
2.0 |
1.51 |
0.43 |
29.9 |
464322 |
Eastern skarn |
Chip channel |
1.75 |
0.80 |
0.05 |
2.3 |
464323 |
Eastern skarn |
Chip channel |
1.70 |
0.51 |
0.10 |
4.2 |
464324 |
Eastern skarn |
Chip channel |
1.80 |
1.22 |
0.15 |
9.5 |
464325 |
Eastern skarn |
Chip channel |
2.50 |
0.84 |
0.06 |
3.6 |
464326 |
Eastern skarn |
Chip channel |
2.10 |
0.65 |
0.04 |
4.0 |
464302 |
Western skarn |
Chip channel |
2.50 |
0.48 |
0.01 |
0.8 |
464303 |
Western skarn |
Chip channel |
2.40 |
1.01 |
0.22 |
28.0 |
464304 |
Western skarn |
Chip channel |
3.30 |
0.62 |
0.01 |
5.3 |
464305 |
Western skarn |
Chip channel |
2.65 |
0.89 |
0.19 |
23.5 |
464306 |
Western skarn |
Chip channel |
2.40 |
0.64 |
0.02 |
6.5 |
464307 |
Western skarn |
Chip channel |
2.0 |
3.32 |
0.19 |
126.0 |
464308 |
Western skarn |
Chip channel |
3.0 |
1.13 |
0.10 |
32.3 |
The La Española area is located on the eastern side of the property and is approximately 3.5 km from the Dos Naciones area and, to date, two skarn bodies are known. The southern of the two forms a prominent hill that measures approximately 280 m by 120 m and has a height of at least 70 metres. The northern skarn measures approximately 100 by 50 metres and has been traced over a vertical extent of 30 metres. The relationship between the two skarn bodies and whether they are connected has yet been determined.
Sample |
Target |
Type |
Width (m) |
Cu (%) |
Au (g/t) |
Ag (g/t) |
464331 |
Southern skarn |
Chip channel |
2.0 |
0.98 |
0.10 |
17.3 |
464332 |
Southern skarn |
Chip channel |
2.0 |
1.90 |
0.15 |
38.6 |
464327 |
Northern skarn |
Chip channel |
2.0 |
1.19 |
0.24 |
26.8 |
464328 |
Northern skarn |
Chip channel |
2.0 |
0.78 |
0.21 |
10.5 |
464329 |
Northern skarn |
Chip channel |
2.0 |
0.95 |
0.35 |
13.3 |
145004 |
Northern skarn |
Chip channel |
1.0 |
0.97 |
0.34 |
16.8 |
The Deal:
Del Toro Silver Corp. will pay Yale $50,000 for the initial 50% interest in the project and in order to earn an 80% interest will have to undertake a total of $800,000 in exploration expenditures and issue Yale 800,000 shares in Del Toro over a three year period. The first year will be a firm commitment of $150,000 in expenditures. Yale is the operator for the project. If Del Toro were to not complete the additional earn-in to 80%, Yale will have the right to purchase Del Toro's interest for $25,000.
Click here to view the 43-101 for the Dos Naciones Property.
[1.6Mb]
Please read news releases for complete details regarding the Dos Naciones Property.
Ian Foreman, P.Geo., is Yale Resources' Qualified Person, as defined by National Instrument 43-101, for the Dos Naciones Property.
