Santiago
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PROJECT SUMMARY VIDEO:
The Santiago project is located within the famous Batopilas Silver District of Chihuahua.
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Caza has an option to purchase a 100% interest in the Santiago Project subject to a 2% NSR. |
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Property hosts multiple narrow high grade gold-quartz veins in the Cliff zone assaying up to 144 gpt Au over 1.5m within a 200 m wide by 1000 m long alteration zone. |
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Rock-chip sampling programs returned consistently high grade gold values such as:
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Owned by same local family for 3 generations - No modern exploration or drilling ever conducted. |
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Target is high grade underground vein deposit and low grade bulk mineable zone related to intrusive contact. |
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Recent completion of NI-43-101 report for Santiago Project |
The Santiago gold project (962 hectares) is located 12 km east of the town of Batopilas, a famous high-grade silver district and 20 km east of Goldcorp's multi-million ounce El Sauzal Gold Mine, about 230 km southwest of Chihuahua City in Chihuahua State, Mexico. The Santiago property covers a prominent iron oxide-silica-clay alteration zone surrounding multiple, parallel, high-grade, gold-quartz-sulfide veins. Access is by paved and all-weather gravel roads from the City of Parral 200 km to the east. Infrastructure is very good with state power lines crossing the properties and labor, supplies and services all available in near-by Batopilas and from the near-by town of Creel.
The Santiago project has been owned by the same family for over 100 years and was never explored by modern methods. The alteration zone has been traced for over 500 m and holds excellent potential for high grade gold veins. Recent rock-chip sampling by Caza geologists returned consistently high grade gold assays from several veins including 30.3 gpt gold over 2.3 m (0.88 opT over 7.5 ft) in the Veta Blanca, 144.0 gpt over 1.5 m (4.2 opT over 4.9 ft) in the Veta Tajos and 17.7 gpt gold over 2.5 m (0.52 opT over 8.2 ft) in the Veta Verde. Samples were prepared and analysed at the ALS Chemex Laboratory in Hermosillo, Mexico.
Pathfinder elements are elevated in the alteration zone and may be indicators of better gold grades at depth, outside of the high grade vein zone. An NI 43-101 report was completed and is available for this project.
Geology and Mineralization:
Like most of the epithermal vein districts in the Sierra Madre gold-silver belt of Mexico, mineralization at Santiago is hosted by the early-Tertiary Lower Volcanic andesites, capped by mid-Tertiary Upper Volcanic rhyolites and intruded by mid-Tertiary granodiorites.
Gold mineralization appears to be associated with disseminated to semi-massive pyrite-arsenopyrite carried within the quartz veins and stockwork zones. Minor disseminated galena, argentite and chalcopyrite have also been observed in the veins. Trace metals associated with the gold bearing veins, such as bismuth, arsenic, and antimony, are present in some of the iron oxide-silica-clay alteration zones along strike from the high-grade vein zone. Caza is encouraged with the presence of highly anomalous trace elements and considers these probable indicators of the gold mineralization system. The current work program will further explore these geochemical anomalies in an effort to expand the gold mineralization and define additional drilling targets for 2011.
Caza geologists sampled three of the eight known veins in the North Zone and channel sampling returned consistently high-grade gold assays as follows:
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Vein |
Width |
Gold |
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(m) |
(ft) |
(gpt) |
(opst) |
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Veta Verde |
2.5 |
8.2 |
17.7 |
0.52 |
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incl. 1.0 |
3.3 |
24.1 |
0.70 |
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Los Tajos |
5.0 |
16.4 |
7.0 |
0.20 |
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incl. 2.0 |
6.7 |
13.7 |
0.40 |
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Veta Blanca |
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Sample 1 |
2.3 |
7.5 |
30.3 |
0.88 |
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incl. 1.1 |
3.6 |
60.3 |
1.76 |
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Sample 2 |
2.1 |
6.9 |
14.9 |
0.44 |
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incl. 1.0 |
3.3 |
25.3 |
0.74 |
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All samples were analysed at the ALS Chemex Lab in Hermosillo, Mexico.