Mazorro Acquires Option to Earn 100% Interest in La Verdosa & Los Arrayanes
Wednesday, August 13th 2008
Mazorro Acquires Option to earn 100% interest in La Verdosa & Los Arrayanes Mazorro Resources Inc. announce that it’s Mexican subsidiary Minera Mazorro S.R.L. DE C.V. has acquired an option from Industrial Minera Mexico S.A. de C.V. (IMMSA) to earn a 100% interest in the La Verdosa and Los Arrayanes concessions in the Municipality of Concordia, State of Sinaloa, Mexico. These concessions are internal to the Cimarron Property where Mazorro has the option to acquire a 60% undivided interest from Oro Gold Resources. These new acquisitions secure and consolidate Mazorro’s land position in the Sinaloa Gold Belt.
The new concessions consist of three claims covering an area of 540 hectares within the Cimarron Property boundary. The La Verdosa concession (Title No. 224766) consists of 200 hectares and is located 750 metres east-southeast of the Calerita deposit where Mazorro-Oro Gold recently completed a 2,397 metre RC drill program (results are pending). The Calerita deposit was drilled by Hecla Mining in 1999 where a drill result of 0.59 g/t Au over 106 meters (a non 43-101 compliant result) and surface trench values of 0.72 g/t Au over 93.3 meters were obtained. The Los Arrayanes (Title No. 221147) and Los Arrayanes 2 (Title No. 221729) concessions consist of 252 and 88 hectares, respectively, and are located about 4 kilometers southeast of Calerita.
On La Verdosa, previous work completed by IMMSA included geological mapping, prospecting and 400 meters of mechanized trenching. Geologically, the Property overlaps windows of granodiorite to diorite intrusions that are overlain by andesitic volcanic rocks. The trenches were cut across southwesterly trending breccia zones hosted in the andesitic rocks. Overall, 465 rock chip-channel samples were collected by IMMSA to evaluate the mineral potential of La Verdosa. Their best results were returned from Trench No. 1, which yielded average values of 0.5 g/t Au, 5.3 g/t Ag, 0.9% Pb, 0.17% Zn and 0.08% Cu across 50 meters, with gold values ranging from 0.23 to 13.64 g/t. The zone appears to project about 620 meters to the southwest through trench No. 5 which cut two zones of 0.12% copper across 11.35 meters and 0.3% copper across 13 meters, respectively. West of the IMMSA trenches, the average gold value of 23 fine-fraction stream sediment samples collected by Hecla Mining and Oro Gold Resources is 385 ppb Au. The stream sediment anomaly merges southwest into the better-defined copper-gold in soil anomaly on the Cimarron Property to the west. There, the copper-gold anomaly is co-incident with a linear magnetic low (zone of magnetite destruction and hydrothermal alteration) that has been mapped for an additional 2 kilometers to the southwest. Overall, the exploration data imply that the La Verdosa structure has about 3.4 kilometers of potential strikelength.
In additon, minimum exploration expenditures of US$300,000 must be incurred over the next 24 months. IMMSA shall retain a 1% NSR which Mazorro can buy back 0.5% of the NSR, at any time, for US$250,000. This agreement is subject to TSX approval.
Mazorro Resources has 12.5 million shares outstanding and is a tightly held junior mining exploration company targeting gold, copper and silver deposits in the western Mexican state of Sinaloa, around the port city of Mazatlan. Mazorro is focussing on a region offering social and political stability in a country offering a favourable investment climate to foreign investors.
Website: http://www.mazorro.com
