Gold-Silver
The property is located in the Sierra Madre region of western Durango and consists of 900 hectares. Preliminary sampling showed up to 5,337.5 g/t silver and 11.79 g/t gold.
An exploration program of detailed geological and structural mapping, and surface sampling, of the Santo Niño mine workings is underway.
Highlights of Preliminary Mapping and Sampling Program
- 8.37 g/t gold, 5,337.5 g/t silver, 2.91% lead and 3.92% zinc over 0.90 meters
- 2.58 g/t gold, 102.8 g/t silver, 1.10% lead and 2.29% zinc over 0.90 meters
- 11.79 g/t gold, 35.6 g/t silver, 0.81% lead and 0.09% Zinc over 1.60 meters
- 0.26 g/t gold, 412.8 g/t silver, 0.78% lead and 0.97% zinc over 0.65 meters
- 4.53g/t gold, 47.6 g/t silver, 0.05% lead and 0.01% zinc over 0.75 meters
Location and Access
La Lupe is accessed by paved and gravel roads from Culiacan, Sinaloa. A paved highway and high-tension power line, which will connect Culiacan and Durnago via La Ciénega, is scheduled to be completed in 2008 and will pass near the margin of the La Lupe claim.
Land Status
The property consists of a single claim of 900 hectares.
Exploration Targets
Thirty-two samples of veins, stockwork and altered wallrock adjacent to or between veins were taken by Premium from surface and small workings at La Lupe. Gold values ranged from insignificant to 11.8 g/t gold, with 12 samples returning greater than 1 g/t or greater gold. Silver ranged from zero to 5337 g/t, with six samples returning greater that 100 g/t silver.
Lupe Rock Chip Samples Table 1
All samples are continuous rock chips and represent true widths.
Two samples were taken from two parallel veins separated by 15 m in the historic Santo Mino Mine, which consists of approximately 140 m of accessible underground workings. One sample returned 0.90 meters of 2.58 g/t gold, 102.8 g/t silver, 1.10% lead and 2.29% zinc and the other 0.90 meters of 8.37 g/t gold, 5,337.5 g/t silver, 2.91% lead, 3.92% zinc. Both samples are continuous chips across the ceiling of the underground tunnels.
Mineralization
Mineralization at La Lupe consists of gold, silver and polymetallic mineralization within quartz veins and stockwork zones. Exposures on surface and underground show sub-vertical quartz veins and stringers up to 1.90m wide with strike lengths of 25 to 340 meters as mapped by the Geological Survey of Mexico. The veins, stringers and stockwork are present over an area of at least 400 by 500m.
World-class deposits in the Sierra Madre region of western Durango include the richest underground gold mine in Mexico, Peñoles’ La Ciénega, 41 km east-northeast of the La Lupe property. One hundred and twenty-five km southeast of La Lupe is Goldcorp’s San Dimas gold-silver deposit, where ore is contained in veins which vary from a fraction of a centimetre in width to over 15 metres, but average 2.0 metres. Great Panther Resources’ Topia Mine, located 30 km northeast of La Lupe, is using a “resuing method” of mining due to the nature of the narrow, very high-grade veins. Resuing mining methods significantly reduce dilution, such that the grades reported from drilling and sampling are very close to head grades reported at the plant.