Dundareve Resources Inc. formed by changing its' name from Consolidated Jaba Resources Inc. and consolidating its' shares on a one new share for six old shares basis in November, 2004.
Dundareve Resources Inc. [DDX:TSX-V]
Niko-Estrella Project, Chihuahua. First Majestic Resource Corp. terminated the joint venture agreement to explore and develop the Niko Estrella project in Chihuahua Mexico.
Press Release 21Dec04
Consolidated Jaba picking up in Mexico again in 2004 with Niko-Estrella Project optioned to First Majestic.
Consolidated JABA Inc.
Mexican subsidiary is 90% owned Compania Minera Jaba S.A. de C.V. which is based in Hermosillo and managed by Ing. Ayax Alba Pascoe.
Niko Project, Chihuahua. Consolidated JABA Inc. (“JABA”) is pleased to announce that JABA has entered into an agreement to secure an option to purchase the approximately 12 square km Ag-Pb-Zn-Cu Niko prospect located in Chihuahua State, Mexico. JABA has identified this carbonate hosted polymetallic target which lies about 25 kilometers from the Naica high-grade silver-polymetallic mine, which has been in production since 1895. The Niko target is interpreted to have potential for high-grade silver-lead-zinc-copper-molybdenum and tungsten replacement mineralization like Naica. Surface characteristics at Niko are similar to the top part of the Naica deposit. JABA has identified the large La Estrella breccia pipe, 60 meters by 80 meters, which could be drilled immediately. This pipe exhibits characteristics similar to the Torino – Tehuacan breccia pipe or chimney at Naica but is much larger than its 10 meters by 15 meters surface exposure. This chimney (breccia pipe) led into the prolific Naica mine which has produced at least 156 million ounces of silver, 2.2 billion lbs. zinc, 2.9 billion lbs. lead 9 million lbs. copper, 260 thousand ounces gold and significant amounts of molybdenum and tungsten. It is still being actively mined. The much larger dimensions of the La Estrella pipe suggest greater potential at Niko. Other indicators in the district suggest potential for more Naica-like mineralization in mantos outside of this breccia pipe. Under the terms of the agreement JABA must expend US$200,000 in exploration before December 31, 2003. In addition JABA will pay US$2,000 in taxes and make staged payments totaling US$140,000 over the next four years as follows; US$5,000 by January 1, 2003, US$5,000 by July 1, 2003, US$20,000 by January 1, 2004, US$50,000 by January 1, 2005 and US$60,000 by January 1, 2006. The property can be finally acquired by paying US$6,000,000 on or before January 1, 2007.
Press Release 07Mar02
Located 25 kilometers east of the mining town of Naica lies a low range of hills that are the Niko property. The Niko area has known small-scale mercury mining, and geochem shows a cluster of areas anomalous in appropriate metals to suggest an analogy to the outcrops above Naica. No geophysics has yet been done. Naica revealed itself at the surface only in manganese-oxide-clad calcite veinlets, and it appears that a 1,000-foot vertical hole anywhere in the manganese vein zone from the Naica surface would have cut mineralization. The same veinlets and other favorable signatures such as mercuric veins, silica-sulfide nodules in breccias, and a 50- by 85-meter-wide manganese-cemented breccia pipe are found at Niko. Nodules of strongly re-crystallized skarnoid chert or siltstone were recently discovered on the most geochemically anomalous hill; assays are pending.
Opata Cu Porphyry Project, Sonora. JABA optioned a 90% interest in a 2,922 ha property targeting a buried Cu-porphyry in Mpio. They flipped it to Cyprus who drilled it and flipped it back to them in July, 1998. Cumpas around 100 km NE of Hermosillo and 50 km S of Nacozari. A 25 sq km color anomaly in granodiorite and overlying volcanic rocks. Concentric pattern of classic porphyry alteration zones has been identified. QSP zone shows intense leaching. JABA sees the area as a 5-km-diameter porphyry copper system with a swath of down-faulted alluvium veneered across it from upper left to lower right and negotiated a JV proposal from Cyprus to drill a fence of holes (totaling 3000m) through the alluvial graben into a postulated chalcocite blanket below. The upper right and lower left outcrop crescents comprise silicification, phyllic alteration (quartz- sericite- pyrite), and propylitization (epidote- chlorite- carbonate) of pre-ore-age granodiorite perforated with numerous breccia pipes and stockworks. Exposed fringes of phyllic alteration are leached and limonitized, suggesting a supergene copper enrichment below. One old shallow angle-hole into one of the breccia pipes revealed chalcocite on the northeast arc, and jarosite-hematite-goethite limonites and stockworks outcrop on the southwest side. Aero-magnetics are positive corroboration, as is limited geochem. Additional geologically-related attractive porphyry copper targets have also been located in the exposed northeast and southwest sections, and geophysics and/or drilling are anticipated there. Drill results from Cyprus activity were delivered to JABA as part of the JV agreement. This should help in further target delineation.
GCN #129 7Jul98
JABA News Release 6Mar98
JABA News Release Nov 1997
Bautista and Cachora Projects, Sonora. Located 140 km NW of Hermosillo and around 50 km S of Nacozari near village of Cumpas, on the north periphery of JABA’s Opata Project. (San Juan Bautista was the first capital of Sonora for a century, until 1751.) JABA evaluated property in Sep., 1997 to discern its relationship with the Opata porphyry copper system. JABA noted two extensive areas of quartz-sericite-pyrite alteration of porous volcanic tuff, broad mesa-tops of silicification, attractive limonites and fracture patterns, and steeply-dipping feeder fault-veins cutting altered volcanics. The fault veins are up to a few meters wide, are variably silicified rock flour/fault breccia, and have returned geochem values up to 680 ppm (22 ounce per ton) silver. Bautista represents a 4+ sq. km altered zone cut by a swarm of E-W veins with significant disseminated mineralization, high-level silicified mesa tops, and silicified chimneys. Cachora, with similar characteristics is located 5 km distant to the SW. The Bautista project may represent peripheral alteration-mineralization related to the Opata porphyry copper center, or it may be a geologically younger stand-alone epithermal silver-gold occurrence.
JABA News Release Nov 1997
Centauro Project, Chihuahua. Located 270 km southeast of Chihuahua City. Subject to a minimal buyout, JABA controls 100% of Centauro, where there is excellent infrastructure - power, railroad, highway. Centauro is a broad carapace of silica-replaced limestone conglomerate, now a tabular bold hilltop jasperoid, a slab measuring 1.5 by 2.5 kilometers in area and perhaps 100 meters thick. The property has been leased and sampled by three companies, the last of which (Excellon Resources) this spring drilled six 300-meter reverse circulation holes, five at the south end and one near the north end. All of the drill holes, were too low in the section and on the margin of the hydrothermal system as JABA interprets it; the nearly barren holes at downward angles took them below the propitious silica horizon. Having revisited the area and having seen the placement of the holes, and having collected realgar and orpiment in outcrop in a black silicified ‘feeder’ zone, JABA plans a grid set of 8-10 vertical drill holes from the high silicified outcrops down through the fossil boiling zone where we suggest the gold-silver values exist.
JABA News Release Nov., 1997
Seri Project, Sonora. Located 22 km NE of Hermosillo, totals 1550 ha. Target is a partially covered polymetallic skarn target centered on what is interpreted as porphyry intrusive center. The Seri Project hinges on at least three items — (1) the known occurrence of significant SX-EW-prone Cu on the property, (2) the presence of a well-developed band of skarn rocks and chalcopyrite-magnetite (copper-iron) prospects and mines (x0,000 tons of magnetite-chalcopyrite have been mined for Portland cement additive) on the northeast third of the area, and (3) the definition of broad-scale centro-symmetrical geochemical anomalies in Cu, Mo, Pb, Zn, Ag and Au that indicate that the Seri property is but the NE quadrant - one quarter - of a much larger porphyry copper system than had been originally perceived. Two targets exist -- geologic and alteration mapping as well as a ground magnetic survey are complete over the original acreage (the cupriferous NE quadrant where Cu to 6% and Au to 1 ppm in outcrop, both oxidized and as sulfide in skarn, have been traced under shallow alluvium by geochemistry), thus preparing it for Phase 1 RC drilling. Additional ground mag and geochem are being performed on the more speculative but quantitatively more attractive coaxial system on the recently acquired adjacent ground.
JABA News Release Nov 1997