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Last:
$0.24
High:
$0.24
Low:
$0.23
Chg:
+0.01
Vol:
34500
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La Cigarra Project, Chihuahua Mexico
La Cigarra Project is located outside the municipality of Parral, in the State of Chihuahua along the eastern fringes of the Sierra Madre Occidental in north central Mexico. La Cigarra is close to power, has good road access, topography and infrastructure.
La Cigarra was identified as an acquisition target by exploration staff late in 2008, as part of the Company's generative exploration program. Reconnaissance and initial sampling results completed by Northair confirm numerous silver occurrences currently traced over a 3 kilometre trend of mineralization. The Company, through an ongoing technical review has defined three potentially significant zones of silver mineralization within the property and believes that all three zones have the potential to contain both high grade vein as well as bulk tonnage surface minable silver deposits. Although there are dozens of small to medium sized old historic workings within the project area, there is no evidence of any modern exploration. The Company's wholly-owned subsidiary, Grupo Northair de Mexico, S.A. de C.V. can acquire a 100% interest in the optioned concessions by paying US$450,000 over a five year period.
Exploration at La Cigarra is focused on three main areas that include the Las Carolinas, San Gregorio and La Borracha zones. Initial exploration by the Company on the three zones included a series of detailed geological mapping and surface sampling along the main trend. Results of surface sampling returned significant silver values ranging between 2.5 g/t silver to over 1,900 g/t silver, with sample lengths variable from 1 to 10 metres. Current Core Drill Program In December 2010, Northair commenced a Phase II diamond drill program,totaling 1,500 metres in a minimum of 6 drill holes. Based on successful drilling, the Phase II core drill program was expanded by 3,000 metres to focus in the area of recent drill results from the San Gregorio zone (80.45 metres of 123.5 g/t silver in hole CC-11-002) and include drilling at the Las Carolinas and La Borracha zones. The additional core drilling will provide the Company with a much better understanding of the geology and related structures within the zones, all of which remain open along strike and down dip, and assist in planning for future exploration of the property. Core Drill Results to Date: Click here to View Core Drill Results 2010 Drill Program In the summer of 2010, the Company carried out a phase I drill program to confirm surface silver values and expand geological knowledge on the property. Drilling intercepted significant widths of altered and mineralized sediments and volcanics with highlights of near surface drill intercepts of 32 metres of 132.4 g/t silver in Hole CRC-10-06 at the San Gregorio Zone, 10.7 metres of 172.5 g/t silver in Hole CRC-10-01 at the Las Carolinas Zone and a near surface intercept of 7.26 metres of 68 g/t silver in Hole CRC-10-13 at the La Boracha Zone. In addition to silver, all intercepts returned anomalous and locally significant zinc with lead and copper. RC Drill Results: Click here to View RC Drill Results Gold Analysis During the phase I drill program, which was focused on potential silver mineralization, the Company carried out a random analysis for gold on selected drill intercepts. This analysis returned highly anomalous gold values and to further investigate the significant selected gold assays, Northair chose Hole CRC-10-11 to be completely analyzed for gold. Results of this analysis are encouraging as the entire intercept, over 100 metres in length, confirmed anomalous gold mineralization highlighted by 1.5 metres of 1.18 g/t gold within a near surface intercept of 10.7 metes of 0.41 g/t gold or 15.3 metres of 0.36 g/t gold. As a result of the positive gold assays from Hole CRC-10-11, the Company is currently reviewing the complete drill data base and will begin assaying additional drill holes for gold. Holes to be assayed for gold will be selected based on multi-elemental analysis, as studies reveal that gold mineralization within the reported drill intercept correlates strongly with silver, lead and antimony. This is consistent with the element correlation with silver from surface samples for both the San Gregorio and La Boracha zones. Based on the statistical correlation alone, both zones could very likely be as anomalous in gold as they are in silver. Results of the additional gold assays will be announced as soon as they become available.
La Cigarra is located within the low lying hills of the Sierra de Hoyas, which lies along the eastern flanks of the Sierra Madre Occidental province. Within the project area, post-mineral Oligocene rhyolite volcanics belonging to the "Upper Volcanic Complex" overlie Cretaceous age sediments. The sediments are generally non-calcareous, and include shale, siltstone and sandstone. Sedimentary rocks are locally intruded by rhyolite dikes, sills and small stocks, and range in texture from aphanitic to porphyritic. Intrusive rocks are more common along the areas of higher topography of the Sierra de Hoyas, and are frequently highly silicified. There is a significant structural deformation within the project area. Stratigraphy generally dips moderately from northwest to northeast. Preliminary mapping indicates there may be a general anticlinal feature paralleling the Sierra. There are numerous regional deep seated northwest extensional fault systems within the project, which coincide with the regional Parral mineral belt. These faults are associated with controlling intrusive emplacement and mineralization. A secondary northeast set of faulting is also apparent.
The Company is currently conducting a + 10,000 metre core drill program and intends to complete an initial resource calculation in Q1 of 2012.
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