La Escondita Property, Sonora State, Mexico
The La Escondita Property is comprised of two mineral concessions
that cover 439,8 acres approximately 124 miles northeast of the
city Hermosillo in Sonora State, Mexico. The surrounding region has
seen significant recent activity by foreign mining companies.
Nineteen miles to the northeast of the property is NYSE-listet
Yamana Gold Inc.´s Mercedes project, a development stage
gold-silver project expected to start production at a rate of
approximately 120,000 gold aquivalent ounces per year from 2012.
Eighteen miles to the north of Gold American´s La Escondida project
is the Oroco Resources Corp.´s Cerro Prieto project, which recently
reported 383,833 ounces gold and over 6 million ounces of silver
reserves.
The La Escondita Property is host to two distinct mineralized
targets associated with a fault: a bulk tonnage-style
gold-silver-lead disseminated area and a high-grade epithermal
vein-hosted silver and gold area. Small gambusino-style workings
occur at different points on these targets, where historical
sampling returned the following selected results:
SAMPLE Gold SILVER OBSEVATIONS
No. (G/T) (G/T)
22309 1.85 273.78 Quarz Vein in old UG low angle
22310 0.78 501.31 Mineralized dump, fragments of veins
22311 0.45 541.58 Exposure in the inner area of old UG
22301 0.20 851.17 Mineralized dump, fragments of veins
23722 0.42 728.52 Veins N65E 30SW
23691 0.27 774.10 Veins N65E 28SW
23725 0.22 908.69 Veins N65E 25SW
The high-grade vein-hosted silver and gold target consists of two
veins. One vein is exposed over an area at least 800 meters long
and is reported to be 3-5 meters wide.
The second vein is exposed over an area at least 500 meters long
and is reported to be 1-2 meters wide. The disseminated zone is
found between these two veins, approximately 100 meters wide. These
zones are open both along srike and depth.
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