Minera Gold (“Minera” or “the Company”), a mineral exploration and development company, is pleased to announce the initial mineral resource estimate for its Yoquivo silver-gold project located in the state of Chihuahua, Mexico. The Mineral Resource Estimate was completed by Qualified Person, Mr. Ramon Rojas, MSc. P.Geo., of Rojas & Asociados, S.C., using the Canadian Institute of Mining, Metallurgy, and Petroleum (CIM) Standards on Mineral Resources and Reserves.
The total Indicated Resource is estimated at 8.8 million tonnes grading at 0.66 g/t gold and 97.7 g/t silver, containing 191,000 ounces of gold and 28 million ounces of silver. The total Inferred Resource is estimated at 5.6 million tonnes grading at 0.50 g/t gold and 73.9 g/t silver, containing 74,000 ounces of gold and 13 million ounces of silver. In addition, the mineral resource estimate includes a zinc resource of 1.6 million tonnes grading at 0.77 % zinc and 0.17 g/t silver, containing 12,000 tonnes of zinc. The resource estimate is based on data from 7,541 metres of drilling in 19 diamond drill holes.
A total of 7,130 samples were analysed for gold, silver, and zinc, with an average sample length of 1.3 metres. Minera’s CEO, Stephen Barley, commented: “This is an exciting moment for Minera Gold. The Yoquivo project has been in the works for a number of years, and it is gratifying to see the results of our efforts to date. We are very pleased with the size and grade of this initial mineral resource estimate, and we look forward to continuing to advance the project in the coming months.” Mr. Rojas further commented: “The mineral resource estimate for the Yoquivo project is very encouraging and reflects the exceptional potential of the project. The resource has the potential to be expanded with additional drilling and we look forward to working with Minera Gold to further explore the project.” The Yoquivo project covers an area of 2,400 hectares and is located in the state of Chihuahua, Mexico. The project is accessible by paved and gravel roads and there is a power line located within 3 km of the property.
The project is underlain by a sequence of volcanic rocks including andesite, dacite, and rhyolite, as well as limestone and sandstone. The resource is hosted in a series of quartz veins and breccia zones that are located within the volcanic rocks. The mineral resource estimate was completed using a 0.20 g/t gold and 20 g/t silver cut-off grade. The mineral resource estimate includes both open pit and underground resources. The open pit resource is estimated at 6.7 million tonnes grading at 0.74 g/t gold and 107.5 g/t silver, containing 151,000 ounces of gold and 22 million ounces of silver. The underground resource is estimated at 2.1 million tonnes at 1.09 g/t gold and 78.4 g/t silver, containing 40,000 ounces of gold and 6 million ounces of silver. The resource estimate is based on a total of 7,541 metres of diamond drilling in 19 drill holes. The drilling was completed between 2015 and 2018 and has been used to define the mineralized zones and estimate the size, grade, and continuity of the resource.
The Yoquivo project is still in the early stages of exploration and there is significant potential for resource expansion with additional drilling. Minera Gold plans to continue to explore the project and is currently developing a plan to expand the resource. Minera Gold is a mineral exploration and development company focused on the acquisition and development of advanced stage gold and silver projects in Mexico. The Company is listed on the TSX Venture Exchange under the symbol “MGN”.
