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BACERAC PROJECT
[Overview]
Mineralization in the Bacerac project is associated with strongly silicified rhyolitic rocks near the contact with underlying sedimentary rocks. Veins, stockworks and breccia bodies are locally present. EXMIN crews catalogued numerous occurrences and completed first pass evaluations on several of them.
At San Patricio, EXMIN encountered a small mine worked informally by “gambusinos” in the past. Sampling has
yielded as much as 9.4 grams per metric ton (g/t) gold, more than 1,500 g/t silver, 9.2 % copper and more than 20 %
lead over a sample length of 3.5 m in a small mine working. A previously unexplored area of altered and mineralized
rock surrounds the mine and provides a large-scale exploration target.
Soil sampling on a 25 m grid measuring 100 by 150 m in this area identified a gold-silver-copper-lead anomaly, and isolated rock samples from this area have yielded DRAFT – JANUARY 8, 2010 - 21 - as much as 2.37 g/t gold and 3,928 g/t silver from a small mine dump.
The Corporation has budgeted 1,000 m of reverse circulation drilling on San Patricio during 2010.