Properties below were evaluated by one or more of the following companies: BHP, Billiton, Magma or Rio Algom. Rio Algom has been the one consistent factor through out all of this. They started working in Mexico in the early 1990's and have been there ever since. Latest ventures include explorationJV's with Almaden Minerals and Intrepid.Minerals Corp.
BHP and Magma Copper merged in October, 1995. In mid-1999 in response to depressed metal prices BHP re-structured its' exploration groups worldwide. Mexico immediately became a non-issue with respect to their global priorities. Evidently there are bigger fish to fry elsewhere. BHP shut down its' Hermosillo and Tucson, AZ offices and moved everybody elsewhere. The head honchos working Mexico got re-located to Santiago. By now they have officially bailed and are looking at all their projects Mexico in the rear-view mirror. It was hasta la vista - baby! - but things change.......In May 2001 BHP and Billiton agreed to a merger. BHP is thereby reincarnated in Mexico via Rio Algom's continued presence throughout. (Remember folks Billiton Plc acquired 100% of Rio Algom in November 2000).
Suaqui Grande Cu-Au Property, Sonora. A property immediately adjacent to the Suaqui Verde Cu-porphyry property (controlled by AZCO?) A 90 sq km package that covers some old placer gold occurrences that are widespread. Sexy alteration including tourmaline breccias exist. Property being explored jointly with Intrepid Minerals Corp. via Rio Algom who has been doing the footwork for the mining giant in Mexico. Around $300K in the kitty through private placement. Drilling planned immediately.
Press Release 22Oct01
Cuatro Hermanos Property 150 km E of Hermosillo, Sonora Magma was optioned from Morgain Minerals in November, 1995. All subsequent exploration in Mexico was carried out jointly with BHP Minerals. A porphyry Cu-Mo prospect with preliminary geological estimates of reserves based on 58 widely-spaced holes of 212 M tonnes grading 0.43% Cu and 0.037 MoS2 including a 2.9 M tonne oxide Cu reserve of 0.49% Cu
Cerro Verde Property located in Sonora around 1.5 hours SE of Hermosillo near San Javier. In Oct., 1994 Magma entered into Letter of Intent with Corner Bay to explore this mineralized brecciated area exposed for 1100m by 300m with disseminated Cu-oxides at the surface.
NMN v.81, #38 11/20/95
MR 1Mar95
LAMR Feb, Mar, 1995
NMN 10/24/94Tameapa Cu-Mo Porphyry Project, located in Sinaloa near the triple-point with Chihuahua and Durango. This is way up in the Sierra Madre. Drilled some holes following up on early 1970's vintage Noranda work. Dropped it.
SEG Newsletter, January, 1995
Sedimentary Cu-Ag in Coahuila in huge land package near Monclova, Coahuila covering 750,000 acres JV'ed with BHP Minerals who have spent $2.3 million on property as of March 31, 1998. Francisco's Interest held through 50.1% of private company Goldeneye Exploration. BHP and Goldeneye have been whacking away at this area for the past couple years and BHP carried out a second phase of drilling.
CMH (Francisco Gold) 1998-1999
MBD February, 1997
GCN #152 7Aug96
GCN #131 8Jul96
LAMR, v3, #4 Apr. 96
NMN v82#13 05/27/96
MBD November, 1995
NMN v81#35 10/30/95
Rio
Algom Ltd. (Acquired 100% by Billiton
Plc.)
As of 1997 actively examining non-ferrous metals opportunities in Mexico with a focus on Cu and base metals. Billiton Copper Holdings Inc. a wholly owned subsidiary of Billiton Plc. acquired the 5% outstanding Rio Algom shares it did not own on 29 November 2000. Rio Algom ceased to trade on the TSE as of that date. Billiton announced a merger with BHP in May 2001 so now this entity is folded into the mega corporation BHP Billiton.
Acero-Atlas in Mexico is part of North American Metals Distribution Group 100% owned by Rio Algom. Involved in warehousing, processing and distribution of wide variety of metals products for industrial use.CMH 1996-1997
