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The La Verde Project |   |
The La Verde copper-zinc-silver-gold Project totals 2620 hectares and is located 45 km northwest of Hermosillo, Sonora State, Mexico.
Included in the property is the La Verde Grande Cu-Zn-Ag-Au Mine, which is made up of six contiguous exploitation concessions that total approximately 300 hectares. The property contains the historic La Verde Grande copper-zinc-silver-gold mine - which saw limited production in the early 1900's as well as in the 1960's - as well as the La Verdecita and El Picacho prospects, both of which saw limited production in the early 1900's. The property is within 2 km of a paved highway and the power grid.
"Exploration potential for the property is significant as the numerous mines, prospects and showings in the area have never been examined as a whole. Each of the various zones have been considered as separate bodies rather than part of a much larger mineralizing system", stated Ian Foreman, P.Geo., president of Yale Resources.
PROPERTY GEOLOGY
Mineralization within the La Verde Grande property consists of a series of structurally controlled skarn bodies and veins. Host rocks are a thick sequence of metamorphosed limestones that are locally intruded by granite and monzonite porphyries, dykes, and mineralized aplite dykes. The La Verde Grande area is located near the southern end of a newly recognized copper-molybdenum porphyry district that trends north into the southwest Arizona copper district.
THE LA VERDE GRANDE MINE
The La Verde Grande Cu-Zn-Ag-Au Mine is the most advanced of the known targets as it has a defined (non NI 43-101) resource of 459,551 tonnes grading 2.29 % copper, 98.54 g/t silver and 0.38 g/t gold (with no estimate for zinc). Note that this resource is historic in nature and was estimated before NI 43-101 came into effect - it has yet to be verified and therefore should not be relied upon. Calculated in 1989 this resource was based on an average width of 18 metres, average depth of 34 metres and only considered a strike length of 110 metres.
Historical sampling within the 2,000 feet (~ 610 m) of old workings the La Verde Grande Mine have been reported by the Consejo de Recursos Minerales as: 2.06 % copper, 1.91 % zinc, 33.07 g/t silver and 0.3 g/t gold for the upper workings and 2.54 % copper, 0.76 % zinc, 132.59 g/t silver and 0.3 g/t gold for the lower workings. As the deposit is at surface, the Company anticipates that it could be exploitable by open pit methods.
The La Verde Grande Mine is on strike with the El Picacho prospect located 900 metres to the northeast. There has been no modern exploration between these two areas.
THE OTHER PROSPECTS
LA COBRIZA
A sampling program by the Consejo de Recursos Minerales in 1982 showed that there is skarn mineralization irregularly distributed over a strike length greater than 500 metres. Twenty five widely spaced chip channel samples from the various historic workings throughout this area ranged from 0.28 to 5.45 % copper, 0.15 to 8.60 % zinc, 3.90 to 578.00 g/t silver and 0.1 to 11.1 g/t gold (note: these samples are included for reference only as they are historical in nature due to them being collected before the creation of NI 43-101).
EL PICACHO
Mineralization at El Picacho is reported to occur in garnetized limestone (similar to the La Verde Mine) beds with one measuring 4.5 metres in thickness. Historical results document exposures averaging 3.0 % copper (with unknown zinc, silver and gold grades) from within a 15 metre wide working.
LA VERDECITA
Located 1.3 km south of the La Verde Grande Mine, and exposed in four separate workings over a strike length of approximately 300 metres. The mineralization exposed at La Verdecita appears to be a result of selective replacement of the host limestone. Historic estimates of 100,000 tons of hand-selected material grading 3.0 % copper (with unknown zinc, silver and gold grades) have been reported
LA VERDE
The Verde zone outcrops over an area of 10,000 square metres. Old working consist of a 126 foot shaft, a 7 foot prospect shaft and two cross cuts. Samples taken in 1908 returned 12.39%, 8.72% Cu, 623 gtAu and 2.27, 1.13 gtAg, repectively. A 1963 report states that the ore ranges between 1.5-7% Cu with reserves of 200,000 tons of 3% Cu.
SAN LOUIS
San Louis is located 600 metres south of the Verde zone, the target consists of a 35 foot shaft which has historic samplings. Historic grading from the samples reported 5.61% Cu and 725g/tAg. Reported estimates show 75 tons of ore take from this zone came back with an average of 8-10% Cu.
LA TESCALAMA
The prospect is reported to consists of a garnetized limestone bed about 4.6 metres thick dipping about 10 degrees into the mountain. There is a reported average of 3% of oxidized copper ore where the old workings open. A mineralized zone of about 15 metres has been exposed at the prospect. Tescalama is on strike with the La Verde Grande deposit, which is located approximately 1 kilometre away. about 180 metres of tunnels, cross cuts and internal winzes exist at the prospect.
LA SIERRITA
La Sierrita consists of 440 hectares adjoining the northeast corner of the La Verde Project. This addition to the La Verde Project covers a large porphyry target with anomalous copper, zinc and molybdenum values.
In 2000, Freeport McMoran drilled 8 RC/diamond drill holes over a six square kilometre area. This drilling loosely defined the La Sierrita quartz monzonite porphyry underlying an area four square kilometres in size. Each hole drilled into the La Sierrita Porphyry encountered copper, zinc, tungsten, and molybdenum mineralization over considerable widths.
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