Gillian Kearvell, Newstrike Capital Technical Session Abstracts: thursday, January 26
Gillian will be leading a technical session on the AP deposit..
technical session abstracts: thursday, January 26
8:50 – 9:10 ana paula gold-Silver project, Mexico
Gillian Kearvell, VP Exploration, Newstrike Capital Inc.
Newstrike Capital Inc. (NES-TSXV) is a gold and silver exploration company
operating within established and historic mining districts in Mexico
including the Guerrero Gold Belt (GGB), located in Guerrero State and
the Taviche Mining District of Oaxaca State. Current exploration efforts are
focused on their GGB projects where they control over 88,000 hectares of
mineral claims in three contiguous projects: Aurea Sur, Aurea Norte and
Ana Paula Projects. The Aurea Norte and Aurea Sur projects are at the early
stages of exploration, while Ana Paula is an advanced stage gold exploration
project that is host to a new high grade gold discovery that is the subject of
this presentation.
The Guerrero Gold Belt is a newly established, producing gold mining
district underlain by a gold-bearing iron skarn system with intrusion hosted
disseminated and stockwork mineralization that is currently host to an
inventory of over 15 million ounces (Moz) of gold and 105 Moz of silver in
all categories. This inventory continues to grow as exploration is advanced
by companies such as Goldcorp (Los Filos Project, +11Moz Au), Torex Gold
(Morelos Project, +5.0Moz), Cayden Resources (Morelos Sur Project, early
stage exploration) and Newstrike Capital. On January 19th, 2011 Newstrike
announced the discovery of a new high grade Breccia Zone at their Ana Paula
project with an intercept of 3.0 g/t gold over a 214 metre downhole length.
Subsequent drilling has since outlined a significant new high grade gold
discovery with a best down hole intersect of 239.95 metres of 7.51 g/t Au,
including 57.64 metres of 18.61.
The exploration target at Ana Paula includes a one by two kilometre surface
gold anomaly that is underlain by coincident geophysical anomalies.
Goldcorp had previously drill tested this target in 2005, intersecting a
series of mineralized dike and sill intrusions that demonstrated potential
for a low grade large volume deposit, as well as a lower volume of high-
grade replacement mineralization in irregular sulphide lenses at contacts
with altered sedimentary rocks and hornfels. Newstrike Capital acquired
the Ana Paula project from Goldcorp in June 2010, and began drilling in
Mid-October that same year, with more than 30,000 metres completed to
date. Drill results have confirmed the potential for near surface low grade
bulk tonnage intrusion hosted mineralization underlying the project area.
In addition, the discovery of the high grade Breccia Zone at Ana Paula has
demonstrated the upside potential for new discovery as exploration of the
one by two kilometre target area progresses. The company is advancing the
Ana Paula project to a preliminary resource estimate concurrently with new
exploration drilling.
