Valdez
This Toronto-based company operates in Mexico through Minera Valdez Gold S.A. de C.V.
Altar Trend Program in Sierra Pinta Range, Sonora. Several projects in Sierra Pinta Range, NW Altar Desert, Sonora including Marissa, Diana I, II which cover some 400 sq mi near Caborca near El Chanate and La Herradura, 9 claims totaling 340,000 ha. in Altar Desert. Carolina 3, Sierra Pinta & Penasco concessions in Altar Desert Area. Completed airborne radiometric and infill magnetic survey on El Viejo Gold Project (CMH 1998-1999). Ground follow-up of 12 geophysical anomalies with ground magnetics and VLF completed prior to initiating drilling in late 1997. Completed 47 holes totaling 6,949m by 2Q98 and found anomalous gold in several holes. Drilling expected to continue for most of 1998. Pavo Real and Panchita Districts tested unsuccessfully.
The Altar property lies on structural trend between the Mesquite (California) and La Herradura (Mexico) deposits. The Phase II Feb.'99 drill program will focus initially on the Sierra Pinta prospect district and will consist of 30 plus holes including approximately 5,000 m of reverse circulation drilling. The majority of roads and drill sites for this phase of drilling have been prepared with the balance to be located as the program progresses. Drilling will focus on three target areas and types on the property. The first target type includes follow-up and offset drilling of mineralized drill hole intercepts encountered in several holes during 1998. The best intercepts from the initial program were found in hole SP-3 which contained two anomalous zones, the first from 35 to 68.5 m where gold response ranged from nil up to 21.2 g/t and the second from 87 to 97.5 m where gold ranged from nil to 4.0 g/t. A second target type includes initial test drilling of exposed areas of the geochemically anomalous Mohave-Sonora Megashear breccia that is over a kilometer in width at Sierra Pinta. The third target type for this phase of drilling consists of a large geophysical anomaly (2 - 3 square kilometers) similar in size and shape to the expression that contains the nearby La Herradura deposit.Exploracion Geologica-Minera del Distrito Aurifero Sierra Pinta,
Municipio del Puerto Penasco, Sonora (October, 1998)
CSW 5Feb99
Press Release 4Feb99
Press Release 5May98
Press Release 1May98
NMN v83#6 7Apr97
CSW 17Jan97
CSW 22-Nov96
CMH 1996-1997
NMN 07/31/95
CSW 7Jul95
NMN 01/16/95Gaby Property (Los Jarros Project) , Sierra Madre Range, Chihuahua. Optioned a 450,000 plus ha land package including several large claims in the Batopilas District, Chihuahua. Located in the Sierra Madre mountain range 300 km southeast of Hermosillo, in a belt of gold mineralization which includes the El Sauzal deposit to the southeast and the Morris mine and Mulatos deposit to the northwest. Ongoing evaluation during 1998. Several key areas have been isolated for more advanced exploration. Plans were to reduce the claim to a more manageable size of 150,000 Ha for 1999.
Surface sampling has found low-grade gold mineralization at Los Jarros on its Gaby property in Chihuahua, Mexico. Manhattan Minerals' Candamena gold project is five km to the west. (NOTE: Candemena itself is 25 km SSE of their Moris Mine). There are no records of any previous exploration work at the Los Jarros discovery. Soil sampling has identified anomalous gold in an area 0.6 km wide and 1.5 km long, which includes two smaller areas, 200 by 400 m and 60 by 200 m, with gold above 0.1 gpt in outcrop samples. Results of rock chip sampling were confirmed by 276 one-meter saw-cut channel samples, which returned from 0.01 to 12.8 gpt gold, with an average of 0.9gpt. Los Jarros is underlain by hydrothermally altered volcanic rocks characterized by pervasive silicification, alunite alteration and by gold mineralization associated with disseminated and fracture-controlled hematite and limonite. Several strong structural trends have been identified on the property. Diamond drilling at its Los Jarros gold project located on its Gaby property (approximately 21,000 hectares) commenced on October 14, 1999. The aggregate length of the initial phase has been increased to 2000+ m with additional drilling to be completed as warranted by the results of the program.Los Jarros Property is being assessed by two major international mining Companies with a view to earning an interest in the project. The project consists of 2,800 hectares and is located along geological trend with other regional multi-million ounce gold deposits including El Sauzal, Dolores, Pinos Altos and Mulatos. Valdez's recent drill program which consisted originally of 12 proposed diamond drill holes began in 4Q99, and was halted after completing 5 holes pending the outcome of these negotiations. The initial hole No. LJ99-1A was lost at 67 m and tested 0.8 g/t from 30.5-65.9 m (including 8.8 m assaying 2.3 g/t gold from 32.0-40.8 m). Hole LJ99-1 was offset one m from LJ99-1A and assayed 0.5 g/t gold from 29.6-63.7 m (including 7.3 m testing 1.0 g/t gold from 31.7-39.0 m). A second hole, No. LJ99-2 was drilled 115 m NNW of LJ99-1A and tested 1.7 g/t gold from 47.4-64 m (including 8.4 m from 53.2-61.6 m testing 3.1 g/t gold). Three additional holes Nos. LJ99-3, LJ99-4 and LJ99-8 were completed, 190 m N, 610 m SSE, and 450 m SE respectively of hold No.LJ99-1A. Samples for holes LJ99-3, LJ99-4, LJ99-8, and the lower portion of LJ99-2 are being held in inventory at an independent assay lab and have not been assayed to date pending the outcome of discussions with the majors who are conducting their due diligence on the property. If the Company is unable to reach a mutually acceptable agreement with one of the JV candidates it will complete the assaying and assess the merits of proceeding independently.
Press Release 3May00
Press Release (with map) 18Oct99
Press Release 15Sep99
Press Release 4Feb99
CMH 1998-1999
Press Release 5May98
NMN v83#6 7Apr97
