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2022 Exploration Update, Assay Results and Drill Plans
- The completion of the acquisition of
La Reyna is key to the consolidation of the Company's 655 km2 total claim package. - High-grade gold and silver mineralization confirmed in structural trends over more than forty square kilometres (40 km2).
- Assays from rock chip and soil samples returned up to 27.12 gm/T Au and 995.5 gm/T Ag.
The
"The Final approval of the registration of this large tenement has consolidated a major district scale opportunity in
El Grande is located at the core of the +550 km long western coastal trend of the SMO, extending south through
Early-stage exploration of El Grande was initiated after closing on the Lago de Oro Resources acquisition (announced
Early exploration has identified a northwesterly trending corridor, within a 40 km2 area, with extensive hydrothermal alteration. The Company has identified several interpreted vein fields that assayed for gold mineralization that strike, cumulatively, for approximately 8 kms, within this corridor. Mineralization remains open for extension in all directions. Figure 2
Assay results confirm the presence of highly anomalous gold and silver mineralization from multiple exploration targets; more than 300 rock and soil samples returned gold in excess of 0.1 grams per tonne gold ("gm/T Au"), 70 samples greater than 1.0 gm/T Au and 41 samples greater than 2.0 gm/T Au. Table 1 shows assay results greater than 2.0 gm/T Au. Results indicate that at least two mineralizing events have affected the project area, a younger crosscutting Ag (Pb, Zn) event (possibly basin and range in age) and an older Au (Ag, Cu) event (possibly Laramide?).
Five areas or "trends" that include historical mine workings, trenches and sampling are currently prioritized for follow up exploration and drilling: The El Polo,
Mapping and sampling programs continue to advance multiple targets to the drill ready phase and introduce new prospects into the project pipeline. Mineralization is hosted in veins, hydrothermal and tectonic breccias that are interpreted as indicators (pathfinders) for underlying bulk tonnage targets.
Table 1: Select high grade assay results from outcrop chip and channel samples assaying greater than 2gm/T, collected by the Company. Sample widths are not true widths and are limited by outcrop exposures. Trenching across the target areas is required to define true widths of mineralization.
Target | Prospect | Sample No | Easting | Northing | Type | Length (m) | Au gm/T | Ag gm/T |
1 | 28202 | 462661 | 2468520 | Chip | 0.50 | 5.66 | 5.0 | |
1 | 28258 | 462086 | 2466188 | Chip | 2.00 | 2.24 | 1.0 | |
1 | 28269 | 462750 | 2467103 | Float | 2.00 | 2.12 | 1.0 | |
1 | 28771 | 462543 | 2468368 | Float | - | 2.84 | 4.0 | |
1 | 28776 | 462504 | 2468383 | Chip | 1.40 | 4.99 | 13.0 | |
1 | 28777 | 462506 | 2468385 | Chip | 1.10 | 4.74 | 15.0 | |
1 | 28791 | 462506 | 2468446 | Chip | 1.30 | 3.29 | 17.0 | |
1 | 28792 | 462504 | 2468444 | Chip | 1.70 | 4.70 | 5.0 | |
1 | 28822 | 462501 | 2468485 | Chip | 1.70 | 2.84 | 9.0 | |
1 | G207558 | 462810 | 2468480 | Chip | 0.45 | 27.12 | 92.0 | |
1 | G207559 | 462810 | 2468480 | Chip | 1.35 | 5.76 | 39.0 | |
1 | G207560 | 462810 | 2468480 | Chip | 0.60 | 4.69 | 26.0 | |
1 | 28772 | 462517 | 2468388 | Chip | 1.80 | 2.84 | 4.0 | |
2 | G207744 | 462122 | 2471103 | Chip | 1.00 | 9.63 | 4.0 | |
2 | 28160 | 462472 | 2471286 | Chip | 1.30 | 0.37 | 682.0 | |
2 | 28493 | 462736 | 2471022 | Chip | 1.00 | 1.43 | 316.0 | |
2 | 28159 | 462440 | 2471374 | Chip | 1.30 | 0.11 | 247.0 | |
3 | Laguna | 28219 | 463526 | 2465243 | Chip | 1.75 | 2.64 | 3.0 |
3 | Laguna | 28220 | 463526 | 2465240 | Chip | 1.00 | 6.34 | 2.0 |
3 | Laguna | G207826 | 464499 | 2469174 | Chip | 1.10 | 4.08 | 1.0 |
3 | Laguna | 207888 | 465526 | 2472359 | Grab | - | 14.01 | 95.0 |
4 | 24729 | 465683 | 2471784 | Chip | 0.20 | 1.16 | 995.5 | |
4 | 28322 | 465752 | 2471810 | Trench | 1.00 | 1.92 | 158.0 | |
4 | 28600 | 465080 | 2471246 | Chip | 0.30 | 5.16 | 94.0 | |
4 | 28921 | 464929 | 2472025 | Chip | 0.45 | 15.2 | 7.0 | |
4 | 29003 | 465077 | 2471241 | Chip | 0.30 | 3.77 | 5.0 | |
4 | 29016 | 465155 | 2471317 | Chip | 0.60 | 2.17 | 1.0 | |
4 | 29181 | 464901 | 2471990 | Chip | 1.20 | 1.94 | 1.0 | |
4 | 29182 | 464903 | 2471989 | Chip | 0.50 | 1.95 | 24.0 | |
4 | 29183 | 464903 | 2471990 | Chip | 0.70 | 3.03 | 1.0 | |
4 | 29184 | 464906 | 2471992 | Chip | 1.20 | 3.10 | 1.0 | |
4 | G207562 | 465748 | 2471798 | Chip | 0.30 | 1.43 | 120.8 | |
5 | La Tauna | 24584 | 465800 | 2472510 | Chip | 1.00 | 4.09 | 2.0 |
5 | La Tauna | 24586 | 465801 | 2472510 | Chip | 1.00 | 7.58 | 3.0 |
5 | La Tauna | 24588 | 465848 | 2472650 | Chip | 1.00 | 2.21 | 1.0 |
5 | La Tauna | 24712 | 465885 | 2471771 | Chip | 0.80 | 3.37 | 4.0 |
5 | La Tauna | 24713 | 465873 | 2471804 | Chip | 0.90 | 3.94 | 9.0 |
5 | La Tauna | 24720 | 465854 | 2471881 | Chip | 1.00 | 6.14 | 6.0 |
5 | La Tauna | 28071 | 465848 | 2471889 | Chip | 0.90 | 2.43 | 8.0 |
5 | La Tauna | 28333 | 465842 | 2471947 | Chip | 1.20 | 4.88 | 13.0 |
5 | La Tauna | 24714 | 485867 | 2471817 | Chip | 0.26 | 2.78 | 18.0 |
5 | La Tauna | 24715 | 485868 | 2471817 | Chip | 0.30 | 3.46 | 7.0 |
5 | La Tauna | 24717 | 485869 | 2471818 | Chip | 0.40 | 2.75 | 7.0 |
5 | La Tauna | 28343 | 464994 | 2471606 | Chip | 0.60 | 10.10 | 1.0 |
1.
This target area includes a range of hills that is host to many historical shallow mine workings, including the past producing
Outcrop chip and channel samples from this trend returned a best sample of 27.12 gm/T Au and 92.0 gm/T Ag from an oxidized low angle tectonic hydrothermal breccia (the red zone) collected from the
2.
This is a topographic depression that lies north and west of the El Polo mine, initially interpreted as a circular feature from Aster satellite imagery. This 2 km by 1.5 km area displays widespread clay ("argillic") alteration and is considered prospective for porphyry style, intrusion hosted or epithermal mineralization. The basin is host to shallow lakes and cultivated fields with sparse outcrop exposure.
The best samples from widely spaced, low density sampling of available outcrop around the periphery returned 9.63 gm/T Au and 4 gm/T Ag, another returned 0.37 gm/T Au and 682 gm/T Ag. This target requires additional mapping, and ground and airborne geophysics to assist with drill hole planning.
3. Laguna
Laguna
Some of the better assays from this area include 6.34 gm/T Au, 4.08 gm/T Au and 2.64 gm/T Au from sparse outcrops surrounding the Laguna. This target requires additional work to advance to the drill ready stage.
4.
Named after the former Aguila de Oro Mining district, this target is host to numerous past producing artisanal mine workings and prospects along a north-easterly trend of discontinuous outcrop within a 2.4 km by 1.8 km area. Gold and silver mineralization is found in numerous exposures of veins and hydrothermal breccia and may represent a structural target ("dilational zone") prospective for bulk tonnage targets - including veins or vein systems up to 700 metres wide (open).
5. La Tauna
A recent discovery, La Tauna follows a northerly trending range of hills that parallels the El Polo trend and is currently mapped over 750 meters (open) from the La Tauna to Nortesur prospects. The best assay from this area returned 7.58 gm/T gold (Table 1). Mapping and sampling is ongoing.
PERMITTING AND SURFACE ACCESS AGREEMENTS
The Company has entered into 14 agreements with the relevant Ejidos controlling surface access to the
The company is committed to sound exploration and social practices, and highly values and appreciates the excellent relations shared with the local communities. Our social and community liaison professionals continue to build long term relations and advance the surface access and permitting requirements as needed. A new environmental impact study was submitted to the Mexican authorities at Semarnat to include drill plans for the
Dr.
For more information, please visit the Company's website at www.angelwingmetals.com.
ON BEHALF OF THE BOARD OF ANGEL WING METALS INC.
"Bryan Wilson"
President & CEO
Email: bwilson@angelwingmetals.com
Neither
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