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| Maps & Photos |
Plomo Locator Map |
Plomo Regional Geology Map |
La Herradura
Open Pit Mine |
Plomo Claim Map |
Banco de Oro Sampling Map |
Regional Geology
The Plomo project is located within the north western portion of the Altar Desert in Sonora, Mexico. Geologically, this is a complex setting similar to that of southern Arizona and south eastern California. The physiographic province is typical of the southern Basin and Range, with elongate northwest trending ranges divided by wide alluvial valleys. Basement rocks in the region include Precambrian gneisses and metamorphosed andesites and granites. These units are overlain by Proterozoic quartzites and limestones, Paleozoic and Mesozoic carbonate rocks and Mesozoic volcanics, clastic and carbonate sediments. Mesozoic plutonic and Tertiary extrusive and intrusive rocks in the region are related to volcanic activity of the Sierra Madre Occidental.
Range front faults trend northwesterly and numerous low-angle shear zones related to thrust or detachment faults are the dominant structural features. The Mojave-Sonora Megashear (MSM) is the principal regional feature and this wide zone separates Precambrian basement rocks (metamorphic core complexes) of slightly different ages and is occupied by a Jurassic magmatic arc composed of volcanic, sedimentary and plutonic rocks. The southwestern boundary of the MSM appears to be a major fault juxtaposing the Precambrian basement against the Jurassic magmatic terrain.
Many of the gold prospects and mines in northern Sonora occur within or adjacent to the southwestern boundary of the MSM in Precambrian, Mesozoic and Tertiary rocks. Many of the gneiss-hosted gold prospects and mines are broadly similar to those being mined along low-angle structures in southeastern California and southwestern Arizona.
La Herradura Deposit
The target at Plomo is a multimillion ounce, low grade, high tonnage fault-related gold deposit amenable to open pit mining and heap leaching, similar to the Peñoles/Newmont La Herradura gold deposit which lies 75 kilometres to the northwest and which contains a global resource of 104,063,824 tonnes averaging 0.84 g/t gold (Penoles 2006 Annual Report).
La Herradura is a structurally controlled gold deposit and mineralization is widespread along northwest-trending shears and breccia slabs 20 to 50 m wide that are bounded by high angle faults. Most of the ore on surface and at depth is oxidized and higher grade gold appears to improve with depth. Geologically, the deposit is situated on the southwest edge of the MSM and mesothermal style gold occurs in quartz-iron oxide breccias, quartz-iron oxide veins and vein stockworks along low-angle structures, high angle splays or in the hanging wall or footwall rocks. Host rocks include Precambrian gneisses and granites, Paleozoic and Mesozoic clastic sedimentary and volcanic rocks, Mesozoic granite rocks and Tertiary volcanic rocks.
The geology is dominated by sheared biotite and quartzofeldspathic gneisses and chlorite schists. Although the gneisses and schists are not favourable host rocks, those portions that have been broken by intense shearing (cataclasites and mylonites) caused by the regional MSM have produced receptive packages for gold mineralization. Gold mineralization is restricted to fractured rock occurring in tectonized zones, which form lower weathered areas with barren knobs forming peaks.
Plomo Geology
The Plomo project covers an interpreted splay of the MSM. Initial indications are that the geology, structure and alteration assemblages are consistent with those of the La Herradura deposit located 75 kilometres to the northwest.
An initial field evaluation of the Plomo property has identified five zones (Bonancita, Banco de Oro and San Perfecto, Pavorreal and San Crecencio) of micro-fractured and brecciated quartz-iron oxide float and outcrop. The property has been subjected to very little historical work and initial grab and chip channel sampling by Cangold has been very promising. In the Bonancita area gold values ranged from trace to as high as 7.62 g/t, with 43% of the 14 samples returning strongly anomalous gold results greater than 0.1 g/t, while at Banco de Oro chip sampling across the low angle fault returned values as high as 298.0g/t Au over 2.35 metres,
Plomo Exploration
The 4,279 hectare Plomo project lies within the Altar desert of northwestern Sonora, approximately 320 kilometres northwest of Hermosillo and 52 kilometres northwest of Caborca by paved highway. The eastern boundary of the Plomo claim is within 4 kilometres of the highway and access around the property is excellent via secondary all weather roads. Extensive strongly micro-fractured and brecciated quartz float and outcrop with hematite and rare copper staining has been traced for approximately 1.6 kilometres with an average width of approximately 200 metres (Bonancita area). Historical dry placer workings have been noted on the property, and recent reconnaissance mapping has identified a brecciated quartz-iron oxide zone (Banco de Oro) related to a low-angle detachment fault that has been mined on a small scale. Cangold has completed detailed grid mapping and sampling of the main Bonancita quartz-hematite zone, allowing the company to quickly bring this zone to the drilling stage.
A 9 hole, 1500m drill program broke ground in early April 2008, testing targets in the Banco de Oro, Pavorreal, San Perfecto, and Bonancita zones
Further information will be added as work progresses.
Cangold can acquire a 100% interest in the Plomo property by making staged cash payments totalling CDN$100,000 ($45,000 paid as of March 31, 2011) and issuing an additional 200,000 shares over 5 years (500,000 shares issued as of March 31, 2011), subject to a 2% NSR, half of which can be purchased for CDN$500,000. The acquisition is subject to regulatory approval.
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