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Candelaria Mining Corp.
Summary
| Project: | Caballo Blanco | |
|---|---|---|
| Deposit: | La Paila | |
| Location: | Mexico | |
| Commodities: | Gold-Silver | |
| Date: | 5/8/2017 | |
| Report Code: | NI43-101 | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 8-5-2017: Candelaria Mining Corp. announces a Resource Estimation report for its La Paila deposit at the Caballo Blanco project. Resource update for the La Paila Zone. This technical report was prepared for Candelaria Mining Corp. (“Candelaria” or CMC) to | |
| Resources: | (Resource, Ind.): 31.22Mt @ 0.52g/t Au, 2.16g/t Ag at La Paila | |
| CP/QP: | [Resources]: Jim Cuttle (Independent) | |
| ABSTRACT: | This technical report was prepared for Candelaria Mining Corp. (“Candelaria” or CMC) to document an updated NI 43-101 compliant mineral resource estimate on the La Paila zone located in the north portion of the Candelaria’s Caballo Blanco property (“the Property”), Veracruz, Mexico. This update includes information collected from 55 new drill holes since the last technical report dated February 10, 2012. The resource estimate is based on 200 diamond drill holes completed since the discovery of the La Paila mineralized zone. The drill hole density is not sufficient to establish any blocks in the measured category and all blocks are considered either indicated or inferred. Below is the resource available for blocks contained within a conceptual open pit using metal prices of $1150 US / oz gold and $21 US / oz silver. Geological field work since 1995 has identified at least three large areas of epithermal precious metal and porphyry style copper gold mineralization on and beside the Caballo Blanco Project. In the north and central part of the property, two large areas of epithermal alteration have been discovered, locally named the Northern Zone (La Paila, las Cuevas, La Cruz, Bandera Red Valley) and the Highway Zone (Highway N, S and La Luz areas). In the south and southwest of the property and currently not part of the Candelaria claim holdings, the Central Grid area hosts what is believed to be at least two porphyry copper-gold prospects. | |
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