Monarca covers 35,000 ha of ground between the company’s Sierra Azul and Don Indio claims blocks. Those claims comprise 6,682 ha in total and are described as having geological structures and stratigraphies similar to those underlying Monarca.
To earn its interest, Stratabound must pay local vendors US$155,000 within three years of signing a definitive agreement, followed by another US$500,000 within the next year.
Geologically, the property is characterized by a regional anticline that exposes two major and several minor “windows” of Cretaceous-aged carbonates and underlying Jurassic red beds. Of the larger windows, Muralla stretches for 25 km on either side of the anticlinal axis and contains 80 historic lead-zinc-silver workings that operated prior to 1950; Reforma contains five such operations along 5 km of strike, one of which yielded 2 million tonnes grading 7% lead and 2.8% zinc, as well as 150 grams silver per tonne, before a miner’s strike forced its closure in 1958.
According to government records, these operations mined material in excess of 100 grams silver, 2.5% lead and 17% zinc. As at Sierra Azul, it appears that only the high-grade oxides were picked, leaving the underlying primary sulphides untested.
Stratabound will carry out geological mapping and geochemical sampling, followed by drilling if warranted. Similar programs are continuing at Don Indio, where 19 km of stratigraphy prospective for stratiform- and shear-hosted polymetallic mineralization have been noted. So far, 275 geochemical samples have been collected from several old workings, and one has been geologically mapped.
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