Dasher Exploration Ltd. optioned the La Juliana Gold Project in the Mulatos District from Chesapeake Gold Corp in 2003. Actively exploring.
Dasher Exploration Ltd. [DAE:TSX-V]
La Juliana Gold Project, Sonora. The Company has an option with Chesapeake Gold Corp. (TSX-V: CKG) for the acquisition of a 60% interest in the La Juliana property. The property is located in eastern Sonora State, Mexico, in the Mulatos Mining District of the Sierra Madre Occidental volcanic province. Under the agreement Dasher has paid CDN $100,000 upon TSX acceptance and issued 250,000 shares. A further CDN $135,000 and 250,000 shares are to be issued to Chesapeake upon commencement of drilling on the property. Dasher must also pay – in October 2005, on behalf of Chesapeake – US $450,000.00 to the original vendor of the property. Dasher must incur a total of US $2,000,000 in expenditures over a period of three years. US $500,000 must be spent during first year. Once Dasher has acquired its interest, Chesapeake may elect to buy back a 20% interest from Dasher in the property – such that Chesapeake and Dasher hold 60 per cent and 40 per cent, respectively – by paying $1 million to the company and incurring expenditures necessary to obtain a feasibility report on the property.
La Juliana is a volcanic-hosted, bulk tonnage, high-sulphidation epithermal gold prospect. The property consists of three claims covering over 700 hectares. Accessible by an all-weather road. Regionally, La Juliana is located at the western edge of a large hydrothermal alteration system that is characterized by zones of intense argillic alteration and silicification – and by the widespread occurrence of visible gold. Similar geological characteristics to El Sauzal (3.2 million ounces) and Mulatos (4.0 million ounces) the only other high-sulphidation gold deposits known to be in Mexico.
La Juliana is situated at the north end of a 3-kilometer long silicified ridge, a topographical feature that appears to represent a large epithermal ‘silica cap’. Zones of high-grade gold mineralization extend for more than 700 meters along a major north-northwest trending fault. More than 250 surface samples have been collected and assayed by Chemex Labs, Hermosillo, Mexico. Selected rock chip channel samples taken from partially exposed outcrops in cross-cutting structures returned 6.0 m of 9.1 g/t Au, 22.0 m of 3.5 g/t Au, 6.0 m of 13.0 g/t Au and 4.0 m of 10.0 g/t Au. Abundant visible gold present; near drill-ready status. Multiple mineralizing events. Characteristics similar to known high-sulphidation epithermal gold deposits in Mexico (El Sauzal, Mulatos). Mineralization consists of structurally controlled high-grade gold zones and lower-grade bulk-tonnage material that exhibits similar geological characteristics to the Mulatos deposit (4.0 million ounces gold) – located 8 km to the east. Geological and geochemical evidence suggests that the mineralized structure may extend to the NNW beneath younger, overlying andesites.
October – December 2004 program of trenching, sampling, geochemistry, and geophysics. December 2004 – January 2005 refine geological model and establish drill targets January – April 2005 diamond drilling to test high-grade structures as well as drill test lower grade bulk tonnage targets.