|
|
 |
LOCATION
The 100%-interest El Rincon gold prospect is located in Durango, Mexico, approximately 120km north of Durango City, on the same northeast-trending corridor that hosts Morgain Minerals Inc.'s El Cairo gold project. Morgain previously reported a revised pre-feasibility study for El Cairo that delineated proven plus probable reserves of 8.2 million tonnes grading 1.15 grams of gold per tonne based on a gold price of US$350 per ounce. It is comprised of one mineral claim covering an area of 12,946.44 hectares (51 square miles.)
GEOLOGY
The exploration model for El Rincon is similar to that of El Cairo, which is located 10 km to the west. El Cairo is considered to be a high sulphidation epithermal gold deposit. Epithermal gold mineralization is hosted in silicified, argillized and pyritized mantos within volcaniclistic rocks of the Lower Volcanic Series and adjacent dacitic sills. The mineralized zones have locally been oxidized to depths greater than 200m below surface with an average depth of 150m. The El Cairo deposit has some characteristics of copper-gold porphyry settings which include strong potassic, biotitic alteration in fractures and K-feldspar alteration with some copper carbonates and oxides within the dioritic intrusive rocks. Conceptually the mineralization is interpreted to be related to an epithermal system proximal to a shallow, subvolcanic, dioritic intrusive of Tertiary age, probably genetically related to the dacitic sills that intrude the Lower Volcanic Series.
|
|
