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Gold/Mining/Energy : Kalahari Resources Makes Major Move Upwords

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To: VAUGHN who wrote (248)1/27/1999 9:08:00 PM
From: kfdkfd  Read Replies (1) of 349
 
Vaugh
I got the data from Kalaharis web site, here is item:

FAJA DE PLATA - CENTRAL MEXICO
NINE (9) CONCESSIONS - 2,700,000 ACRES
TOMATINA WINDOW

The following has been received from project manager/geologist, Kevin McAndrews:

The Faja de Plata is one of the world's richest mining areas and has provided a large portion of the world's silver production over the past 450 years. Table 1 highlights metal content including past production and current reserves of some of the major districts in the Faja de Plata.

Although most of these ore bodies are epithermal vein and replacement deposits, recent discoveries of syngenetic mineralization like Fransico I Madero and San Nicolas have been found under shallow cover in the Mesozoic basement. This has presented an exciting new exploration model for the region.

Most of the area staked by the Geomex claims is covered by Tertiary volcanic rocks and Quaternary sedimentary rocks between relatively extensive exposures of Mesozoic greenstones south and southeast of Zacatecas to the north, and Sierra de Leon to the south. Several windows of Mesozoic rocks crop out within the Geomex claims.

Of particular interest is the La Tomatina window located 10 km (6 miles) WNW of the city of Aguascalientes. This window covers an area of about one mile2 and falls on the southwest part of Geomex 8 (395,000 acres) on a gravity high that includes an area of about 5 miles2. This gravity high extends to the south onto Geomex 4. Tomatina is one of several gravity anomalies that form a NW-SE belt of discrete gravity highs extending from the Leon Reserve to the south up to Geomex 3 to the north. The belt is about 50 miles long.

Water well information along this belt suggests that the basement is composed of greenstones and is relatively shallow. Some of the best gravity anomalies along this belt probably fall to the south of Tomatina mostly on Geomex 4 (Goldwater Resources option).

The rocks that compose the window are mafic volcanics with intercalated graywacke and fine-grained mafic intrusive rocks. The intrusive has been dated by Penoles at 103 million years which is in the age bracket of the massive sulfide deposits along the Faja de Plata and represents similar hanging wall stratigraphy to the San Nicolas deposit 50 miles to the north.

The mafic rocks of the window show weak to moderate chlorite and locally sericite alteration with trace amounts of pyrite.

Seven altered surface rock chip samples of the Tomatina outcrop were analyzed by Chemex Labs. Results show elevated values of gold, barium, copper, lead and zinc. One sample contained 6.53% copper with 275 ppb gold taken from an outcrop of a hematitic quartz veined exposure. A sample of material with manganese horizons yielded greater than 1% manganese. These initial geochemical results suggest that the Tomatina rocks are at least locally mineralized.

Four miles to the northwest of Tomatina there is another window named El Varal. This window is covered by a pre-existing claim. The outcrop here is composed of carbonaceous limestone, schists, and slates. Within this sequence there is a 3-5 foot thick chert bed (exhalite?) that was prospected for copper-silver according to old reports. Two samples from this window showed anomalous lead, zinc, and barium values.

At this time, Tomatina and the other highs to the south are priority targets. These gravity highs could be effectively evaluated with widely spaced IP followed by a tighter IP survey. Any anomaly generated would be a valid drill target.

Table 1. Estimates of metal content of the major deposits in the Faja de Plata.

District/Deposit DepositType Gold oz millions* Silveroz millions* Lead tons thousands* Zinc tons thousands*

--------------------------------------------------------------------------------

Asientos Repl/Skarn - 52 60 93
Fransico I Madero SEDEX - 25 276 1.012
Fresnillo Vein/Repl. 0.48 500 189 943
Guanajuato Vein 5 1,060 - -
Pinos Vein 0.8 - - -
Real de Angel Repl? - 135 741 741
San Martin Repl - 170 417 1,065
San Nicolas VMS 1.2 40 - 1,800
Sombrerete Vein/Repl 0.05 40 - -
Zacatecas Vein 5 750 - -

--------------------------------------------------------------------------------

Total - 12.5 2,772 1,683 5,654

map (neeed to click it at web site)

KALAHARI RESOURCES INC.

Albert W. Applegath (signed)
President
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