Morgain Minerals has several diversified properties ranging from trona, gypsum to gold and PGM's. The recent upswing in precious metal prices will probably see them focusing on El Compa, Zacatecas and El Cairo, Durango in 2002-2003.
Morgain
Minerals Inc.
MGM
(TSXV)
Alfonso Daco appointed to Board of Directors. He is presently the president of Minera MGM S.A. de C.V. and Minera Oro Real S.A. de C.V., both of which are subsidiaries of Morgain Minerals Inc. Minera Oro Real S.A. de C.V. is 75% Morgain and 25% Columbia Metals Corp. Ltd. Another Mexican subsidiary is Minera Magmor S.A. de C.V. Purchased 70% interest in Compania Minera El Arca S.A. de C.V. in late 1999.
Puerto Nuevo Ultramafic Complex (PNC) Vizcaino Peninsula, BCS. An 8,000 ha concession covering a layered PNC, held until recently in a Mexican National Reserve, covers an area 35 kms by 15 kms and is over 1,500 metres in thickness. PNC is the only layered PGM-chromite-bearing intrusive in Mexico, the fourth largest in North America and the eighth largest in the world. The PNC consists of an upper sequence of layered mafic intrusive rocks and a lower sequence of layered ultramafic intrusive rocks. Within this lower sequence of rocks exist highly deformed economic grade chromite (45.47 to 57.78% Cr203) lenses. The El Tigre chromite mine is part of
the PNC. The above PGM values are higher in palladium, followed by platinum and gold. The above localized study in the only exploration work completed to date on the PGM potential of the layered PNC and holds much promise for the remaining complex. Placer gold deposits are known to overlie the southern portion of the PNC. These gold placers may actually be PGM placers whereby the platinoids were not recognized. The possibilities of outlining both PGM-rich horizons within the PNC as well as PGM placers are excellent and exploration will proceed in this area as soon as possible.Press Release 6Jun01
Coahuila Gypsum Project, Coahuila. The Company is pleased to announce that it has completed its acquisition, by staking, of the remaining portions of the Coahuila gypsum deposits as outlined by a field investigation by company geologists. A detailed media release is being prepared at this time and will be released by the end of January. The inclusion of these Coahuila gypsum deposits will triple world gypsum reserves and represents one of the most significant resource discovery this century.
A large, long-standing national reserve held by the Mexican government was released and immediately acquired by staking. Celestite and Gypsum are the primary targets in Coahuila. All properties are evaporite-style mineralization. The Company staked a total of 4 large Gypsum deposits in the State of Coahuila which is located south of Texas in northern Mexico. The claims are Alejandra, Alejandra 1, La Campana, La Casita, and Patty. The deposits are estimated to contain over five billion metric tonnes of Gypsum. Mexican government geological mapping and Minera MGM's field work indicates the two Alejandra claims area is a very large flat-lying near surface manto zones. The zone measures at least 100 m deep, 1000 m wide and runs approximately 7 km in length.
Press Release 19Jan01
Press Release 2Nov00Adair Trona Property, Sonora. The trona is in rock and also to be recovered from Na-rich brines. It is located on the east coast of the Sea of Cortez in NW Sonora State. Environmental permits were obtained prior to June 1st, the date when the Mexican government restricted any other mining permits for the harvesting of any minerals including trona in the Adair trona area. This gives Morgain the exclusive rights in this area for the mining of trona rock and extraction of Na-rich brines (Na sequicarbonate) over an area 35 km long and 10 km wide. Morgain expects mining to begin in November, 2000 and plans to initially sell to the Mexican agribusiness market at a rate of 1000 tonnes per month under the trade name TRONAMEX.
Press Release 14Sep00
Press Release 10Feb00
Press Release 29Jul99La Sauceda Vat Leach Silver Plant, Zacatecas. Will process around 300 tpd of tailings or 96,000 tonnes per annum in ten vat leach ponds. Tails run 250 gpt Ag, 0.35 gpt Au and recovery is expected at 60%. Mexican electrical commissionera nd environmental agencies have given necessary approvals.
Press Release 8May01
El Arca Ag floatation mill, Zacatecas. Purchased 70% interest in Compania Minera El Arca S.A. de C.V. who owns and operates a floatation mill in near the city of Zacatecas. Capacity is being doubled to 200 tpd by mid March, 2000. Broken Ag ores running 240 gpt Ag and 0.5 gpt Au will be processed and recoveries of 75% are expected. There are 8 years of reserves of this material lying around. Company also owns two old underground Ag mines on property including El Tesorito. San Acacio tailings grading 175 gpt Ag and 0.25 gpt Au are presently being treated at the El Arca mill. Recommendations are to treat these tailings at the La Sauceda vat leach plant where 50% recovery can be obtained in 10 days.
Press Release 12Sep00
Press Release 10Feb00Cuatro Hermanos Cu-Mo Property: Sonora. Morgain controls 100% interest in 11 claims totaling around 7800 ha located 144 km SE of Hermosillo. Optioned a 60% earn-in interest to PD after BHP (Magma) dropped property back to vendor. Earlier Morgain estimates put geological reserves on the order of 220 M tonnes at 0.48% Cu and 0.0355 MoS2. BHP had previously optioned property and mobilized RC rig in October, 1996 to drill 15 widely-spaced holes. BHP had initially planned to resume drilling on a Phase II in mid-February, 1997. Holes CHM 1,2 and 3 tested the "Cactus Zone" located east and outside the main Cu-Mo area. CHM-3 cut 0.37% Cu and 0.014% Mo between 4.6m and 51.06m depths. Holes CHM 4,5 and 6 are N and NE of the main zone. Hole CHM-4 intersected 0.106% Mo and 0.20% Cu over 38.6m starting at depths of 179m beneath the surface. Revised resource estimates by Morgain now stand at 313 million tonnes at 0.41% Cu and 0.0382% Mo. (A footnote indicates that Ag values tend to average 3 to 4 grams per tonne.). PD drilling was planned for May 1998 to expand on these reserves. PD's option goes through year 2003 if they stick with the program.
CMH 1998-1999
CSW 14Feb97
CSW 24Jan97
CSW 27Sep96
CSW 8Nov96El Compa Project: Optioned El Compa, and Ines claims in Sahuaripa Area, Sonora totaling 33,000 ha. Acquired Don Beto (295 ha.) Staked El Compa, El Compa 2, Ines 4 and Yaqui 2 claims in same area, brings total to around 65,400 ha (or 154,800 acres) . Area contains numerous Au-bearing gossans, including the Chunibas Property and the Santa Rosa workings. Announced discovery of two gold-bearing stockworks in November, 1996. Also the Santa Fe and Argentina workings. RC drilled 30 holes late in 1997. First RC holes in the Santa Fe Zone at Argentina tested near-vertical structures with -45 degree holes and intercepted 1.0 to 2.5 grams over around 20 m of drill length. Airborne geophysics contracted to TerraQuest Ltd. and scheduled for May, '97. Ground IP also planned. Report "Carlin-type" gold-bearing zone in limestones on the main 30,000 ha Compa 1 claim about 15 km W of Argentina workings. Planned further RC drilling.
CMH 1998-1999
GCN #85 2May97
NMN v82 #40 12/02/96
CSW 22Nov96
CSW 8Nov96
CSW 13Sep96
CSW 6Aug96El Compa Project News: Thursday, October 9, 1997:
The Company's consulting geophysicist, Mr. Arthur Larson, has evaluated the airborne geophysical data covering the north part of the El Compa 2 block which includes the Argentina property as well as the Innes 4 block located to the north. Both blocks total about 160 square kilometres located in the Sahuaripa area, Sonora, Mexico. The airborne data was evaluated for "signatures" that would suggest environments for previous metals alteration and mineralization. Thirteen (13) significant K/Th ratio anomalies (Potassium/Thorium) have been defined. These are areas in which alteration may have enriched the potassium content and depleted the thorium content of the rocks. Studies by both U.S. and Soviet Geological Surveys have shown that previous metal alteration systems are often enriched in potassium and depleted in thorium. Two of the strongest K/Th anomalies occur on the Argentina Property, the strongest occurring between the Santa Fe and Santa Rosa systems where previously reported drilling by the Company intersected gold zones mentioned above. five holes in Argentina are expected to be completed by Christmas.
Ground work consisting of geochemical and I.P. Surveys have been expanded on the Argentina property to include areas along strike of the known gold zones as well as other targets. Upon the completion of this survey work a major drilling program will be initiated, in all likelihood by mid November of 1997. The remaining eleven(11) K/Th targets will be investigated in early 1998. Two of the targets are positioned near the La Virgencita gold skarn. Five (5) E.M. anomalies, particularly one that lies about 3 kms west - southwest of the Argentina property will also be followed up.
The airborne geophysical survey flown over the ORO YAQUI 2 block to the north defined two major alterations and geophysical structures both of which coincide with numerous old gold workings, consisting of open-pits, gold-bearing dumps, adits (one being 12m and another 60m) and one underground workings. The Yaqui River immediately downstream from these workings are known for their extensive, rich gold placer deposits. An extensive exploration program is planned for this high-priority area in early 1998Maribel Claim, Chihuahua. Optioned 20,000 ha concession located WNW of the El Sauzal Area 50% to Arimex. Propety acquired by staking by Morgain Minerals. Claim reported to have at least nine mineralized areas including: La Cumbre (stockwork); San Antonio (Au-Ag-Pb-Zn vein 2.6m wide) and Gallenachic (skarn 7-20 m wide with Ag-Pb-Au)
CSW 18Apr97
GCN #48 10Mar97
CSW 7Mar97San Francisco Polymetallic Vein Project, Sonora. An Au-Ag base-metal polymetalic vein target located near Cucurpe where some Consejo work around 1980 reported reserves (all categories) of 1.12M tonnes at between 245 and 305m depths grading 0.3 gpt Au, 216 g/t Ag, 3.9% Pb, 8.17% Zn and 0.17% Mo. Morgain holds a 75% working interest with the remainder being held by Columbia Metals Corporation Ltd.. Old mine closed during Mexican Revolution period and never re-opened or explored seriously since. Assays from 16 RC holes, 7 underground crosscuts and 2 surface trenches point towards the possibility of Au-Ag plus moderate combined Pb+Zn mineralization. Additional 1200m drill program commencing immediately. Results from holes SF-15 through SF 23 were tabulated and presented 16Mar. Grupo Mexico has contacted them about a possible JV. A zone of 200 feet true width of 2.0% Zn and including a 20 ft zone of 6.5% Zn was encountered in the section containing holes SF-11 and SF-21.
Press Release 22Mar99
Press Release 16Mar99
NMN V84#49 7Feb99
MBD Feb99
CSW 5Feb99
Press Release 21Jan99
Press Release 18Jan99
MBD August, 1998El Placer de Santo Domingo Project, Chihuahua. Through Minera Oro Real S.A. de C.V. (75% MGM) optioned a 682 ha property located on the Rio Conchas in northern Chihuahua. A 2,450 claim including other claim fractions was staked surrounding this property and covers old workings and known gold bearing gravels outside the optioned claim. The property was grid drilled in 1993 with a Becker Rig and 65 holes totaled 701m. This gave a measured and indicated resource of 8,536,255 cubic meters at 0.59 gm3 or 134,480 oz. A 3 month evaluation program is underway by James E. Tilsey and Assoc. Ltd. of Toronto. The company has completed a small sluice and received environmental permits for bulk sampling which is proceeding as of July, 1999. VSE has accepted for filing the agreement by which 100% of the claims formerly belonging to Mrs. Marisela Perez Gonzalez which are now property of Minera Real del Oro S.A. de C.V. for the sum $500K payable over 5 years. These claims include: Las Cruces, El Aguilita, El Halcon, El Condor, Revelacion Annel and El Placer de Santo Domingo
Press Release 2Sep99
Press Release 18Mar99Santo Tomas Cu-Mo (Au, Ag) Porphyry Property, near Choix, Sinaloa. Acquired in March, 1998 after property was written down to the tune of 5.4M Canadian by Exall Resources. Option to acquire 100% interest in 7 claims. Plans for 1998 included bench-scale testing of concentrates, sampling and bulk metallurgical testing. In a pre-feasibility evaluation around May, 1994 Mintec Inc. put estimated proven & probable reserve figures at 247 M tonnes at 0.44% Cu, 0.072 gpt Au and 2.27 gpt Ag. (This property may have reverted to the prior underlying owners since there has been no mention of it in recent MGM News Releases)
CMH 1998-1999
VSE Report on Mexico April, 1998Natora Gold Property, Sonora. Optioned 500 ha concession to Cambior Inc. Located 25 km N of Placer's Mulatos Gold Mine in eastern Sonora right down on the river. Optioned 70% interest to Cambior which stakes surrounding 100,000 ha and threw it into a JV situation. Preliminary geologic mapping by Morgain indicated extensively altered tuff is present with the mineralization being 700m by 500m and exposed vertically between elevations of 850 to 1100m. Twelve rock chips returned values up to 5.6 gpt Au and 230 gpt Ag averaging 1.24 gpt equivalent-Au. March, 1998 extensive geologic mapping and sampling in progress.
CMH 1998-1999
CSW 14Feb97Tecolote Property, Sonora. Acquired a 30,000 ha concession located 110 km NW of Hermosillo which reportedly contains a precious and base-metal skarn traceable for 13 km on the surface. Property includes a former 800 tpd Zn producer and two parallel Pb-Zn skarn zones with high Ag values. Diamond drilling was planned for 1998.
News Release 13 Dec97
Dos Amigos Property, Chihuahua. Option on a 1000 ha 2 concession package located near Chihuahua City which reportedly potentially contains a large low-grade Au-Ag deposit ameneable to OP extraction. JVed this opportunity 50/50 with Columbia Metals Corporation Ltd.
News Release 7Oct97
Ofilia and Santa Gertrudis (sic) claims, Cucurpe, Sonora. Abuts Walhalla's La Amelia concession and is near N boundary of Campbell Resources Santa Gertrudis Mine property. Sediment-hosted disseminated gold target. An RC rig has been mobilized to the property. A total of 15 shallow RC holes totaling 1970m was carried out 1Q97. This work outlined a proven drill reserve of 2,170,000 tonnes at 1.34 gpt Au. Phase II drilling along strike planned for late-April expected to bring another 4,400,000 tonnes into proven and probable categories.
GCN #76 21Apr97
CSW 24Jan97
MBD January, 1996
Rosa, Naomi and Guadalupe claims: Located in the Suaqui Grande Area, these 3 claims total 785 ha and were optioned to Hecla. MGM retains right to enter and explore for Cu-Mo ores containing less than 0.01 opt Au and/or 0.50 opt Ag.
GCN #168 31Aug95
Suzy Claim: A 1 hectare claim smack dab in the middle of Eldorado's La Colorada open pit mine is the basis of mutual lawsuits between Morgain, Eldorado, Daco and about 8 other people. A supposedly binding contract with the title holder, a Mr. Garcia, in the hands of Alfonso Daco verses a verbal agreement with Eldorado is the problem in a nutshell. Morgain is seeking repayment for Au extracted as well as patrimonial damages. (NOTE: As usual, the lawyers will probably be the big winners in this one!)
CSW 2Jun95
