Stingray Resources Ltd. is focused on the Sierra Madre Belt, particularly the Uruachic District. Management includes some ex-Corner Bay Minerals executives.

Stingray Resources Ltd.  SRY   (TSXV)

El Indio, Chihuahua. El Indio is located near the contact, or transition zone, between the more recent Upper Volcanic Sequence and the older Lower Volcanic Sequence, where bi-modal volcanism changes from andesitic in the older units, to dacitic and rhyolitic in the younger. An altered (weakly silicified with disseminated pyrite) rhyolite crops out about 200 meters northeast of the claim monument and may be genetically associated with mineralized hydrothermal fluids. The property is crossed by several large NNW fault systems that can reach up to 300 meters in width with intense fracturing. Additional thinner NNE fault zones are also present. The presently outlined zone of alteration reaches up to approximately 1,000 meters in strike length with over 200 meters wide. Mineralization appears to be epithermal as observed by the strong silicification and stockwork type quartz veining ( < 1mm up to 15 cm wide). Some of the quartz appears to be of chalcedonic type. Silicification is commonly accompanied by 2-5% disseminated fine to medium grained pyrite. Silicification is most intense where accompanied by closely spaced, NNW high angle fracturing. Micro-quartz veinlets with areas of hydrothermal breccias along fractures are suspected carriers of gold mineralization. Some of the higher grade samples collected to date appear to be related to a second stage silica event formed in a very fracture controlled host rock. An area has been been identified that has strong epithermal signatures, such as silicification, stockwork quartz veining and hydrothermal breccias that is approximately 1.5 km long by 250 meters wide and hosts gold and silver in grab and chip samples (See Map 1).This is a target area that requires significantly more exploration to determine the metal tenure of gold and silver. The El Indio Property appears at this time to contain mostly gold, with low silver. Sampling to date has returned assays up to 10.46 g/t gold.

Delta 1, Chihuahua, The northern 2/3 of the Delta 1 Property is underlain by lithic ignimbrites which are rhyolitic to dacitic in composition. The southern portion of the property is underlain by andesites and andesitic agglomerates which are unconformably overlain by the Upper Acid Volcanic Sequence. In the central part of the property the rhyolites are silicified with zones of strong argillic and epidote alteration. Strongly to intensely argillized and fractured andesites have been observed in drill core beneath the altered rhyolites. Altered andesites have not been observed on surface. The altered rhyolites are cut by numerous fractures which contain veinlets of quartz and epidote. The fractures have a preferred orientation of 340 degrees with steep dips to the southwest. The altered zone does not form a conspicuous gossan and is very low in sulphide content. Hematite is often found along the selvadges of fractures. Fine specks of native gold have been observed along fractures in outcrops near the adit in the southeastern portion of the altered zone. Native gold has also been observed in polished thin sections taken from surface samples within the Delta 1 zone.
A fault has been mapped trending through the eastern portion of the altered zone. The fault trends northerly and dips steeply to the west. The size of the Delta 1 alteration zone is approximately 300 meters north-south by 200 meters east-west. This corresponds to the area of anomalous gold and silver from surface samples collected within the grid. The average gold assay from 142 surface samples collected from three different due diligence trips to the property was 4.32 g/t gold (Roy Woolverton, 1995).
 

Pelonachi, Chihuahua. It lies within an erosional window which exposes the lower portions of the Upper Volcanic Sequence along the topographically highest edges of the property. Underlying this Upper Volcanic Sequence are andesitic tuffs and volcaniclastic sediments with an intercalated package of siltstones which outcrop in the river banks leading to the Oteros Creek. The andesitic rocks appear to have been affected by an intrusive body dioritic to monzonitic, which is visible along creek streambeds. In the central northern portion of the property there is a structure that appears to be a rhyolite dome which also cuts the andesites. Rhyolite domes are often found within volcanic calderas. Faulting at Pelonachi consists of three systems. First stage faulting which trends NNE, which is displaced by a second system that trends NW. The third system trends NE. Pelonachi hosts several geologic features such as, intrusive contacts with evidence of hydrothermal alteration; widespread quartz veinlets, alteration zones and tourmaline – rich breccias and stockwork zones with disseminated sulphides. Approximately one half of the Pelonachi concession is underlain by a granodioritic body which hosts a strongly altered zone of quartz-tourmaline-epidote-pyrite within a sparse network of quartz-hematite veinlets. Another stockwork zone, identified as El Alicante has been brecciated and has traces of chalcopyrite, arsenopyrite, stibnite and strong quartz-pyrite alteration. These structures lie close to the intrusiveandesite contact. Fracturing and intense iron oxide alteration are also observed in this location. The hill in the central area of the property, known locally as Cerro Pelonachi, is a color anomaly with quartz-pyrite alteration that extends from the top of the hill to the bottom of creeks. Samples of tourmaline-rich breccia from this area run as high as 2.52 g/t gold. At an elevation of approximately 1,400 meters there is a band of argillic alteration which appears to be related to samples that have returned a gram or more of gold. Fracturing in this area has a preferred southeast orientation (Carlos Jurado & Paul Sorbara, 1996).

Elephant 8 Mining District, Chihuahua and Sonora. A 37,000hectare concession

 

 

NMN 12/11/95