2018-2020 Exploration

At the Santana project, gold mineralization is related to a series of hydrothermal breccias (≥ 300-500m in diameter) hosted by batholithic intrusions and porphyritic stocks and by roof pendants of volcanic host rocks. The breccia bodies extend from surface to significant depths.

Approximately 30,000 m of drilling was conducted prior to Minera’s involvement in the project. This historical work has been supplemented by drilling programs that have taken place in 2018-19 and more recently an ongoing program that is expected to continue throughout 2020. 

As part of ongoing drilling activities, Minera Alamos is reviewing the entire project concession area in order to identify additional zones of mineralization with the potential for resource definition. 

2020

The Phase 2 program (18 Holes; ~ 3500m) was completed in mid-2020. Results are included in the February 6, April 30 and June 10 2020 news releases.

The program expanded the Nicho Main Zone breccia pipe both laterally and vertically. The known mineralization now extends along a SW-NE strike length of 500m and to depths in excess of 250m. It remains open in a number of directions and to depth.

In addition, all three holes drilled into the Divisadero zone intersected wide intervals of disseminated gold-silver mineralization, confirming the presence of Nicho-style gold values over considerable thicknesses in an area that appears to remain open in multiple directions. 

The Nicho, Nicho Norte and Divisadero zones now span a strike length of more than 1km.

The Phase 3 drilling program is underway as the Company resumed work at Santana after a brief interruption that constrained much of the Mexican mining and exploration sectors as the Government took steps to tackle the Covid pandemic.

Phase 3 will continue to define the margins of the Nicho system in order to design the optimal open pit. The program will also test three new targets within the Santana project boundaries including Zata, Gold Ridge and Bufita. All three targets are gold-bearing breccia pipes and zones which appear geologically similar to Nicho. (See release June 10,2020)

The program will consist of 6000 – 7,500m in ~35-50 holes including ~20-25 holes to define margins at Nicho, ~15-20 holes to test the new targets, and ~3-4 holes to follow-up results at Divisadero.

Regional Map Showing Target Areas for Phase 3 Drilling