Competitive Mineral Exploration
Minera Camargo S.A de C.V ("Camargo"), incorporated in 1999, is a private Mexican mineral exploration company with interests in 343,295 Ha of mining claims in 5 states and a well-equipped exploration team with access to the best technology in the business. Operating at the front line, our crews have brought several Projects to market in the last 10 years. Through our network of joint-venture partners, the discovery rate has accelerated in 2009, and some Projects now have defined mineral resources. Some highlights include:
Oro Gold Resources (OGR: TSX-V) increased the inferred oxide resource at the Trinidad Mine in Sinaloa by 119% from 91,915 ounces of gold at 1.76 g/t Au to 200,930 ounces of gold at 1.39 g/t Au in 2008. Camargo has an NSR on the Trinidad Mine, and all other mines that OGR puts into operation on its ground position of 155 750 Ha held in 27 mining licenses in southern Sinaloa and northern Nayarit. Oro Gold has recently added a third diamond drill rig to the Trinidad Project (OGR News Release, 7 Oct 2009).
Under the terms of an Agreement signed in June of 2008, Camargo has the exclusive right to develop the 52,755 Ha Jalisco VMS Project for Zinco Mining Corporation (ZIM: TSX-V). In 2008, ZINCO intercepted 202.98 meters of 92 g/t Ag, 0.93% Zn and 0.43% Pb in Hole ZIM9 from the San Juan prospect and 16.32 meters of 9.58% zinc, 2.59% lead, 0.39% copper, 21.5 g/t silver and 0.11 g/t gold from Hole ZIM30 in the newly discovered Caracol Horizon under the past producing Jesus Maria open pit. Previous operators of the Jalisco VMS Project include Industrias Penoles and Teck-Cominco.
Camargo holds the NSR on Seafield Resources' (TSX-V: SFF) and Yamana Gold's (TSX: YRI) 7730 Ha Picachos Property in Durango. Significant drill results include 59.3 meters of 67 g/t Ag, 0.48% Zn and 0.22% Pb in Hole COCH3 as well as higher grade intercepts such as 1.52 meters of 6.21 g/t Au, 348 g/t Ag, 16.6% Zn, 3.4% Pb, 0.2% Cu in Hole COCH8. In March of 2009, Camargo acquired the Operating Permit to complete 10,265 meters of additional drilling on Los Cochis and 3 other epithermal precious metal targets on the Property.
Other mineral interests are described in the Projects section.
New Developments
Minera Camargo has upgraded the field portable laboratory to include a TerraSpec short-wave infrared spectrometer (SWIR), and a new Niton XL3t900S (GOLDD) XRF element analyzer. The SWIR will be used to identify hydroxyl group minerals that occur in zoned patterns around hydrothermal ore deposits. The Niton can be used to quantify the amount of hydrothermal metasomatism that has occurred by direct measurement of Ca, K, Ba, Al, Si and Mg, Zr and Ti, as well as concentrations of elements of direct economic interest (such as Cu, Mo, Ag, Pb, Zn and 22 others).