MEXICO AND CENTRAL AMERICA — Morgain Minerals exploring Sonora land package for gold

Through wholly owned Mexican subsidiaries, Morgain Minerals (MOG-V) is exploring its Compa project in the Sahuaripa area of Mexico’s Sonora state.

The project is part of a 40,000-ha land package acquired through staking and optioning of individual properties; it lies upstream from famous placer gold deposits and covers at least 15 gold-bearing gossan zones. These gossan zones have been worked sporadically by artisanal miners since the early Spanish era and contain numerous pits, trenches and adits. No modern exploration work or drilling has been carried out in the region.

Morgain says preliminary geological mapping, panning and sampling indicate that the gossan areas may represent large stockworks of oxidized, sulphide-gold-bearing, quartz-carbonate veins and veinlets trending at various directions within porphyry-type acidic intrusives, and highly fractured volcanics and sediments along northerly trending faults.

Chip bedrock samples were taken from several properties. At the wholly owned property known as La Argentina, sampling returned 2.06 grams gold per tonne across a width of 29.65 metres, whereas sampling at the wholly owned Santa Rosa property returned 1.4 grams over 14.3 metres and 6.37 grams over 26 metres. Sampling at Santa Fe, also wholly owned, returned values ranging from 1.95 to 24 grams, across widths ranging from 6 to 19.2 metres.

Morgain says the gold mineralization exposed by gossans on the Argentina, Santa Rosa and Sante Fe properties appear to be interconnected, representing an area measuring 1,000 by 550 metres.

The company is also carrying out a sampling program at the 100%-owned Ines 4 property, 6 km northwest of the three aforementioned properties. The Ines 4 contains a large, gold-bearing gossan zone measuring 1,500 by 700 metres.

The wholly owned Oro Real property contains the largest gossan zone (1,000 by 1,000 metres). Four random chip samples from this prospect returned assays ranging from 4.33 to 6.58 grams gold. A more detailed sampling program is planned for the gossan zone.

The wholly owned San Martin property also hosts a gold-bearing gossan zone, as do several other properties in the region that have yet to be assessed.