Friday March 6, 11:24 am Eastern Time
Company Press Release
Aurado Exploration Ltd./Minera Constelacion S.A. Joint Venture Zacatecas/San
Luis Potosi States, Mexico
TORONTO--(BUSINESS WIRE)--March 6, 1998--Aurado Exploration L(TSE:AEO - news) Aurado Exploration Ltd. (''Aurado'') has signed a Letter of Understanding with Cia. Minera Constelacion S.A. de C.V. (''Constelacion''), a wholly owned subsidiary of Cominco Ltd. [AMEX:CLT - news] on eight base metal and silver properties, encompassing 21,542 ha within Zacatecas and San Luis Potosi
States, Mexico.
Two of these properties are adjacent to and immediately west of the Western Copper Holdings Limited-Teck Corporation San Nicolas
Massive Sulphide Discovery and may lie in the same mafic/felsic volcanic sequence.
Exploration Plans
A minimum of 5000 m of diamond drilling will be required to test area of interest given the favourable Chilitos Volcanic host rock for
VMS deposits exposed.
Airborne surveys and detail IP and ground magnetic surveys will be conducted first.
Property Summary
In 1995, Cominco embarked on an exploration program in the Mexican Silver Belt. The main target was an open pitable Zn/Ag/Pb deposit similar to the Francisco y Madero deposit (33 million Tonnes at 5 percent Zn, 0.6 percent Pb, 0.1 percent Cu and 40 g/T Ag) located 20 km west of Zacatecas. Because the Francisco y Madero deposit lies within a prominent airborne magnetic anomaly, Cominco staked magnetic anomalies which were located over favourable sedimentary stratigraphy.
With the San Nicolas volcanogenic massive sulphide (VMS) discovery in late 1996, a new target type was developed in the Zacatecas area. The lower Mesozoic stratigraphy including the volcanogenic Chilitos became a target for exploration. Up until this time VMS were of minor significance.
The well known NW trending Belt hosts world class deposits historically known for silver production, but large tonnages of Pb, Zn, Cu and Au have also been mined from the belt in the latter half of this century. Deposits recently discovered at Francisco Y. Madero and El Salvador are thought to be sedimentary exhalative or volcanogenic in origin and are confined to flat-lying felsic/mafic strata of the
Cretaceous Chilitos Formation.
The properties are located in a 60 x 30 km belt extending west northwest from the San Nicolas discovery and are largely
pediment-covered and will be explored by a suitable combination of magnetics, IP, EM, surface and diamond drilling in areas of
favourable geology.
Three of the eight properties (Piedrotas, Venaditas and Gabriela) are underlain by Chilitos volcanic units of the San Nicolas volcanic
centre and are located west and southwest of the Western Copper/Teck joint venture lands. Four of the properties (Amapolo, Belecbu,
Sauz and El Garabato) are situated within and at the margins of an underexplored Chilitos volcanic center near the village of Sauz De
Culera, some 50 kilometres northwest of the San Nicolas discovery. The Carmen Property encompasses a magnetic anomaly within Tertiary volcanic breccia.
Reconnaissance work by Cominco in 1996-97 outlined the following features of the joint venture lands:
Gabriela (8950 Ha, 100 percent pediment cover)
The property is located 10 km northwest of the San Nicolas discovery. Little is known about the geology because the area is underlain by valley fill. However, the hills to the northwest and southeast of the property contain Chilitos formation volcanics, and it is likely that
this formation underlies the claim group. A prominent airborne magnetic anomaly (7 x 5 km) lies in the centre of the claim group.
Venaditas (2365 Ha, 75 percent pediment cover)
Venaditas is located 10 km southwest of the San Nicolas discovery and is also positioned over a magnetic anomaly just west of the center of the claim group and underlain by valley fill. On the eastern part of the property is an important fault formed along the eastern margin of the valley. East of this fault, Chilitos breccia and altered sediments and cherts are exposed along a road cut.
Piedrotas (189 Ha, no pediment)
Piedrotas is located 2.5 km south of Venaditas. This claim was staked to cover a 200 x 100 m area of alteration in Guerrero Terrane greenstones near the contact with sediments. The claim partly covers an airomagnetic low.
Amapola (3194 Ha, 50 percent shallow pediment)
This claim was staked to cover two magnetic anomalies in Guerrero Terrane limey argillites and calcareous sandstones. Several calcite
plus quartz plus Ag plus Pb veins are present, cutting the sediments. Sauz (1065 Ha)
The Sauz claim was staked to cover several magnetic anomalies in an area underlain by pediment and Cretaceous sediments. Belecbu (828 Ha)
This claim covers the southern part of a 2 km magnetic anomaly. Lead-zinc veins are present in ground to the east of this claim.
El Garabato (3600 Ha, 100 percent pediment)
El Garabato covers magnetic anomaly over pediment.
Carmen (1352 Ha, 50 percent Tertiary volcanics)
This claim covers 5 km of the most prominent part of a WNW trending 70 gamma airomagnetic anomaly. The magnetic anomaly has similar trend to the famous Cantera vein at Zacatecas.
There is a map available by contacting the company at the number above or by accessing CCN's Internet Website at cdn-news.com.
Contact:
Aurado Exploration Ltd.
Robert A. Pollock, 604/683-1363
604/662-8995 (FAX)
or
Aurado Exploration Ltd.
Tanya L. Gunther, 604/683-6556
604/683-6557 (FAX)
or
Aurado Exploration Ltd.
William P. Dickie, 416/947-1087
416/366-8179 (FAX) |
