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Sesmo Sur Area
The Sesmo Sur area was the first area of focus for the Company's Phase 1 exploration program. Sesmo Sur is an extensive alteration system covering an area 3km x 3km with strong outcrop and BLEG geochemical anomalies for VMS gold-silver deposits, epithermal, and porphyry copper-gold deposits. The first phase of the field program returned numerous significant geochemical anomalies collected via channel, trench, pit, and outcrop sampling. Initial results identified an anomalous area called El Lobo. Important results from this initial phase of field work at the anomaly include:
- 44 meters at an average of 3.21 g/t gold and 15 g/t silver
- 68m at an average of 2.6 g/t gold and 82 g/t silver
- 52 m at an average of 3.71 g/t gold and 162 g/t silver
- 29 m at an average of 2.66 g/t gold and 14 g/t silver
- 12 m at an average of 1.07 g/t gold and 183 g/t silver
El Lobo Anomaly
The El Lobo anomaly at Sesmo Sur is located within the Jordan 2 mining concession and is 5.5 kilometres southwest of the El Gallo anomaly, the southernmost anomaly at Las Naves Central. The alteration zone is more than 300 meters wide, appears to be open to the north and south for over 1 kilometre, and consists of silicified and pyritized hydrothermal volcanic breccia. Gold and silver mineralization is hosted within a hydrothermal breccia with a matrix of barite and poly-sulphides (silver minerals are contained within galena, sphalerite and chalcopyrite).
As a result of the successful completion of the geochemical program in the fall of 2007, the Company defined El Lobo as the #1 drill target. The Company, in early 2008, completed an 18 hole phase 1 drill program at the Sesmo Sur area. Salazar is now in the process of analyzing all drill hole data in combination with its ground geophysics data and geochemical data to decide the next phase of exploration at Sesmo Sur.
Significant Drill Results to date:
| HOLE ID | FROM (m) | To (m) | LENGTH (m) | Au (g/t) | Ag (g/t) | Cu (%) | Pb (%) | Zn (%) |
|---|---|---|---|---|---|---|---|---|
| CURI-07-001 | 6,09 | 18 | 11,91 | 2,25 | 31 | 0,2 | 0,27 | 0,6 |
| Including | 12 | 16 | 4 | 2,21 | 23 | 0,09 | 0,23 | 1,61 |
| and | 56,1 | 60 | 3,9 | 1,79 | 8,4 | 0,08 | 0,06 | 2,76 |
| CURI-07-003 | 0.7 | 8 | 7.3 | 2.56 | 14.37 | 0.05 | 0.36 | 0.02 |
| Including | 41.14 | 79.24 | 39.63 | 0.64 | 15.35 | 0.1 | 0.24 | 0.69 |
| and | 64 | 79.24 | 16.8 | 0.9 | 30 | 0.05 | 0.54 | 1.21 |
| CURI-07-005 | 0.2 | 15.24 | 15.04 | 2.54 | 50.11 | 0.23 | 0.19 | 0.25 |
| Including | 0.2 | 2.68 | 2.48 | 11.14 | 107.33 | 0.07 | 0.57 | 0.04 |
| CURI-07-009 | 0,4 | 16 | 15,6 | 1,45 | 17,4 | 0,17 | 0,1 | 0,04 |
| 16 | 51,72 | 35,72 | 0,3 | 3,9 | 0,11 | - | 0,08 | |
| 55,15 | 69 | 13,85 | 0,21 | 1,3 | 0,11 | - | 0,23 | |
| CURI-07-012 | 16,76 | 44,19 | 27,43 | 0,18 | 1,6 | 0,1 | - | 0,36 |
| 57 | 68,58 | 11,58 | 0,24 | 1,6 | 0,04 | - | 0,51 | |
| CURI-08-026 | 32.1 | 37.3 | 5.2 | 0.14 | 5.2 | 0.13 | - | 1,26 |
During the drill program phase of exploration, the Company continued to collect samples region-wide within the Sesmo Sur area. In February, 2008 the Company announced two more significant anomalous areas, La Vaquera and Agua Santa which appear to be prospective for economic mineralization. The Company is aggressively following up on this initial success with planned drill programs to follow by mid-year.
La Vaquera Anomaly
During the exploration program performed at Gatuza Creek, within the area known as La Vaquera, various float samples were collected up to five metres in diameter consisting of quartz stockwork in strongly silicified rock and rock blocks and strong sericite-argillic-pyrite alteration. Results determined that the company had discovered a significant geochemical anomaly. La Vaquera is located approximately 2,000 metres west from the El Lobo anomaly at Sesmo Sur. A total of 14 samples were collected (float and outcrop), values ranging from 0.01 g/t gold to 16.3 g/t gold, from 0.1 g/t silver to 136 g/t silver and from seven to 5,580 g/t copper.
Also, a total of 256 soil samples were taken at La Vaquera by auger. The soil sample results have uncovered an important anomaly approximately 200 metres in length with concentrations higher than 100 parts per billion gold in a strongly altered zone of sericite-argillic-pyrite.
A ground geophysics induced polarization program is currently taking place and preliminary results indicate a high-chargeability, low-resistivity anomaly approximately 400 metres in length.
The next work phase will include completion of the ground geophysics program, interpretation of results, followed by a targeted drill program. The company estimates that La Vaquera will be drill ready within three months.
Significant sample results include:
| Sample-ID | Type | Width (m) | Au g/t | Ag g/t | Cu PPM | Pb PPM | Zn PPM |
|---|---|---|---|---|---|---|---|
| 356 | float | 0,59 | 4,3 | 6240 | 9 | 1095 | |
| 357 | float | 0,04 | 0,2 | 34 | 3 | 9< | |
| 365 | float | 1,09 | 0,4 | 3810 | 127 | 298 | |
| 366 | Float | 0,08 | 0,5 | 490 | 5 | 44 | |
| 367 | Float | 0,01 | 0,1 | 35 | 14 | 3 | |
| 368 | Float | 2,49 | 1,8 | 2210 | 97 | 229 | |
| 1000 | float | 1,81 | 18,4 | 212 | 661 | 321 | |
| 1001 | float | 16,30 | 2,6 | 2190 | 64 | 182 | |
| 1002 | float | 1,13 | 0,1 | 2180 | 45 | 251 | |
| 1014 | float | 1,10 | 136,0 | 3460 | 15 | 90 | |
| 1015 | float | 0,04 | 10,8 | 5580 | 5 | 2 | |
| 1003 | outcrop | 2 | 0,01 | 0,1 | 7 | 5 | 111 |
| 1066 | outcrop | 3 | 0,02 | 0,3 | 278 | 7 | 39 |
| 1067 | outcrop | 2 | 1,58 | 0,7 | 2830 | 8 | 216 |
Agua Santa Anomaly
Three creeks localized near Guabito town were investigated during the regional prospecting program. Several metre-size floats of jasper and hydrothermal breccias enriched in barite, pyrite and sphalerite were encountered. The company collected 29 float samples and results returned values ranging from 0.03 g/t gold to 4.99 g/t gold, 0.1 g/t silver to 496 g/t silver, and 7 g/t to 28,900 g/t zinc; anomalous copper and lead values were also reported. These results determined that the company had discovered another significant geochemical anomaly. This anomaly is located approximately 1,500 metres northeast from the El Lobo anomaly at Sesmo Sur.
The next exploration phase at Agua Santa includes the completion of a geochemical soils survey and a ground geophysics induced polarization program. This work phase will be implemented immediately.
Significant sample results include:
| Sample-Id | Type | Width (m) | Au g/t | Ag g/t | Cu PPM | Pb PPM | Zn PPM |
|---|---|---|---|---|---|---|---|
| 173 | Float | 0,10 | 2,8 | 88 | 80 | 27 | |
| 174 | Float | 1,33 | 11,8 | 784 | 143 | 153 | |
| 175 | Float | 0,16 | 5,5 | 489 | 336 | 250 | |
| 176 | Float | 0,14 | 3,0 | 342 | 50 | 439 | |
| 177 | Float | 0,23 | 5,8 | 262 | 240 | 798 | |
| 178 | Float | 0,18 | 2,5 | 34 | 39 | 14 | |
| 179 | Float | 4,99 | 496,0 | 2060 | 9910 | 18400 | |
| 181 | Float | 0,14 | 3,9 | 97 | 50 | 94 | |
| 314 | Float | 0,44 | 3,4 | 423 | 582 | 596 | |
| 319 | Float | 1,79 | 30,7 | 895 | 1120 | 358 | |
| 324 | Float | 0,23 | 9,0 | 991 | 28 | 112 | |
| 325 | Float | 0,16 | 8,6 | 70 | 26 | 38 | |
| 326 | Float | 0,10 | 1,2 | 174 | 92 | 37 | |
| 327 | Float | 0,07 | 3,1 | 108 | 22 | 24 | |
| 384 | Float | 1,33 | 42,9 | 1810 | 592 | 28900 | |
| 385 | Float | 1,07 | 5,7 | 300 | 2390 | 1100 | |
| 386 | Float | 0,03 | 1,6 | 14 | 15 | 46 | |
| 387 | Float | 0,29 | 7,9 | 768 | 912 | 582 | |
| 388 | Float | 0,06 | 0,7 | 10 | 27 | 145 | |
| 389 | Float | 0,36 | 2,4 | 4170 | 54 | 28200 | |
| 432 | Float | 0,24 | 2,5 | 1080 | 225 | 1680 | |
| 433 | Float | 0,27 | 10,9 | 214 | 1850 | 3380 | |
| 434 | Float | 0,13 | 2,5 | 266 | 18 | 912 | |
| 459 | Float | 0,01 | 0,1 | 17 | 2 | 84 | |
| 464 | Float | 0,04 | 0,2 | 3 | 7 | 16 | |
| 465 | Float | 0,77 | 39,0 | 300 | 5600 | 8580 | |
| 15084 | Float | 0,03 | 0,6 | 109 | 8 | 6 | |
| 15143 | Float | 0,09 | 3,1 | 99 | 17 | 54 | |
| 1049 | outcrop | 3 | 0,01 | 0,8 | 89 | 20 | 10 |
| 15141 | outcrop | 3 | 0,03 | 0,5 | 488 | 3 | 26 |
| 15142 | outcrop | 3 | 0,08 | 1,5 | 54 | 84 | 65 |