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The Balleza zone, which was drilled in 2011, hosts low grade gold mineralization in a potassically altered and strongly silicified and stockwork veined dacitic dike and the overlying volcanic tuff and agglomerate. Mineralization occurs in the upper portion of the Lower Volcanic Series andesitic volcanics near the transition to the Upper Volcanic Series rhyolitic volcanics and is spatially related to altered and mineralized dacitic dikes and the overlying tuffaceous rocks, very similar geologically to the Dolores Mine 80 km to the north. Mineralization with potassic alteration silicification has now been identified in outcrop over an area that is up to 1.4 kilometers (km) long and 350 meters (m) wide. The newly discovered Thalia zone at the southern end of the Balleza zone extends the previously known mineralization. The low grade gold mineralization trends into higher grade gold and silver bearing veins and vein stockworks in the Virginia, Cusi, and Relampago Zones on the southern end of the Balleza-Thalia zone. This overall zone is approximately 3.2 km long and up to 400 m wide.
The 2011, drilling program completed 12 holes which tested a 300 m long portion of this 1400 m long zone and identified a flat-lying mineralized horizon which is approximately 100 m in true thickness beginning at the surface. This mineralized zone is up to 350 meters wide. The 300 m long zone, which was drill tested, potentially hosts 8 to 12 million tonnes based on drill assays, rectified geologic cross-sections, and three dimensional modeling. Gold assays from the drill core ranged from 0.3 grams per tonne (gpt) gold up to 0.7 gpt gold using a nominal 0.1 gpt gold cutoff and included short intervals of waste. The simple weighted average of all drill holes above the 0.1 gpt cutoff is 0.52 gpt gold. Silver values are low overall in this area and range from 2 to 35 gpt. This geologic interpretation is not an NI 43-101 compliant reserve or resource. The potential quantity and grade is conceptual in nature and there has been insufficient exploration to define a mineral resource. It is uncertain if further exploration will result in the discovery of a mineral resource.
|Geologic map with Au||Geologic map with Ag|
Caza is planning to continue the mapping program in the Cusi-Relampago-Thalia-Virginia zones to the south of Balleza. The program will include trenching and soil sampling to confirm continuity of the high-grade vein and low grade disseminated zones with the purpose of prioritizing drill targets for a fall drilling program, subject to financing.