Royalstar Resources
Four AuAg properties in Sinaloa acquired through Zocolo Exploration Associated Inc.in April, 1996: Maipiri, San Dimas and Tambor North and South. Corporate merger contemplated with Attwood Gold (ATW-VSE) as of July, 1996. Royalstar faces $454,335 suit filed in BC Supreme Court by Zocalo Exploration who claim they failed to meet terms of exploration agreement. Optioned a 60% interest in four separate properties in Mexico: El Tambor North, El Tambor South, Maipiri and San Dimas to Zicor Mining Inc. Zicor dropped properties back to Royalstar in December, 1997.
WWWinfo 13Jan99
CSW 16May97
CSW 24Feb97
NMN v82#21 07/22/96
NMN v82 #8 04/22/96Tambor North is a 1,080 hectare property located in the Tamazula District of western Durango. The property is reported to contain a series of contiguous hydrothermal zones of gold-silver mineralization hosted in quartz veins with a NW-SE orientation. After a geological review , Royalstar has notified the owner of the Tambor North Property in the State of Durango that the Company will terminate its interest in that property as of 1Q98.
Tambor South is a 1,160 hectare property located south of Culiacan in south-central Sinaloa. Mineralization is reported on a broad scale with high grade bonanza-type lode gold deposits along a major northwest trending La Colorado structure. Several small mines occur over a 3 km length of this brecciated structure which in places is several hundred meters wide. Chip samples taken over a 2 meter width near the Estrella workings, active sporadically in 1995, assayed 46 g/t Au and 29 g/t Ag.
The San Dimas Mine property covers 2,285 hectares and is located north of Culiacan in
Sinaloa. The mine itself (105 hectares) has a production ‘rate’ of 100 t/d and resources estimated at 58,600 tonnes grading 5 g/t Au. 100 g/t Ag, 1% Pb, 5% Zn and 0.8% Cu. The adjacent Maipiri Property is a 5,000 hectare exploration property with identified disseminated style oxidation and placer gold occurrences. Earlier in 1997 Royalstar farmed out a 60% interest in this property group to Zicor Mining Inc. Zicor recently informed the Company it did not intend to begin exploration and was returning control of the properties to Royalstar. A senior consulting geologist is currently evaluating the property group on behalf of Royalstar. The results of this evaluation will be used in our planning for future activity on these properties.WWWinfo 13Jan99
Maipiri Property, Sinaloa. Located west of San Dimas the property consists of 5,000 hectares.
