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 continues to accelerate, 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 is currently drilling at Trinidad, and diamond drill hole 09TR015 intersected 5.3 g/t gold over 65.9 metres from 124.0 to 189.9 metres, including a higher grade interval of 7.6 g/t gold over 42.5 metres (OGR News Release, 20 May 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 NWT Uranium Corp's (NWT: TSX-V) 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 for NWT.
Other mineral interests are described in the Projects section.
New Opportunities
Camargo has acquired 100% of the 17,457 Tango Property from Seafield Resources Ltd (SFF: TSX-V). The Property is centered in Southern Sinaloa State, Mexico, in the municipality of Rosario near geographic co-ordinates 105º45’W and 23º12’ N (1:50 000 mapsheet F13A47).
Initially explored by SFF as a gold vein prospect, Camargo has shown that the veins occur peripheral to a complex intrusive suite of Tertiary intrusions with potential for porphyry gold-copper deposits. Significant features of the porphyry system include:
A zoned, polymetallic geochemical footprint that covers more than 44 square kilometers.
A potassic core marked by biotite greisen with significant copper > gold values.
Muscovite-pyrite ("phyllic") greisen with gold > copper values.
A propylitic-altered margin where most of the previously explored base-metal and gold vein-style deposits occur.
Abundant tourmaline breccias.
Multiple pulses of porphyritic intrusions including monzodiorite porphyry, monzonite porphyry, and porphyritic flow-domes.
Camargo is making the exploration database available to qualified buyers, and we expect to joint venture this Property in the next quarter. Interested parties should contact Camargo via E-mail at mineracamargo@yahoo.ca.