Santuario Gold / CRD Project
Hidalgo State, Mexico
Palamina holds a 100% interest in the Santuario concession covering approximately 1,900 ha in the municipality of Cardonal, Hidalgo State. The concession was acquired from the registered owner (Soltoro S.A. de C.V.) by transfer as part of the June 9th 2015 acquisition of Soltoro by Agnico Eagle Mines Limited. Palamina is seeking a partner to advance the project.
The Project is well located with respect to infrastructure being approximately 75 km northwest of Pachuca, the capital city of Hidalgo, and approximately 130 km north of Mexico City, the nation’s capital.
Mineralization on the Santuario Property consists of two distinct styles:
- Epithermal gold mineralization in quartz and/or iron oxide veinlets hosted by an Oligocene rhyolite porphyry and flow dome complex and adjacent sedimentary rocks, and;
- Lead-zinc-silver replacement mineralization hosted by Cretaceous carbonate rocks near the contact with rhyolite porphyry.
The most significant gold occurrence on the Property, and the primary target, is epithermal gold mineralization in the San Clemente area, which occurs over an area measuring approximately 500m by 750m. Gold assay values in the San Clemente area range from below detection limit up to 10.3 g/t gold. Higher gold values are concentrated in larger fractures, such as those exploited at historic mines, with lower grade values (0.1 g/t gold to 0.9 g/t gold) reported by the Mexican Geologic Survey in the adjacent rhyolite.
Exploration completed by Soltoro between 2006 and 2012 includes rock sampling, geologic mapping and ground magnetic surveys over selected areas. Palamina is seeking a partner to advance this project.