Guachinango Mining District, Jalisco State, Mexico
The El Barqueño project hosts a significant epithermal bonanza-type vein and stockwork gold system. The project’s deposits could potentially be developed into a series of open pits utilizing heap leach and/or mill processing, similar to the Pinos Altos mine.
State of Jalisco,Western Mexico
Option to earn 100%
El Barqueño represents a significant land position for Agnico Eagle in the Guachinango Mining District, part of the Sierra Madre Belt, in the state of Jalisco, Mexico. Extensive infill drilling on the property has resulted in a substantial initial indicated mineral resources estimate of 8.5 million tonnes grading 1.11 grams of gold per tonne and 4.35 grams of silver per tonne (containing 301,000 ounces of gold and 1.2 million ounces of silver) at open pit depths as of December 31, 2016. The project also has estimated inferred resources of 7.2 million tonnes grading 1.56 grams of gold per tonne and 4.50 grams of silver per tonne (containing 362,000 ounces of gold and 1.0 million ounces of silver).
The Guachinango mining district lies in the Trans-Mexican Volcanic Belt. Known epithermal vein deposits are related to hydrothermal activity associated with volcanism of the Lower Volcanic Supergroup (LVS) comprising from bottom to top, equigranular and porphyritic andesitic flows and tuff units. The Barqueño pyroclastic units hosting most of the mineralization occur within the upper portion of the LVS. The mineralization consists of gold-silver (copper) veins, stockwork and vein breccia zones hosted in massive to faulted andesitic pyroclastic rocks. Vein widths range from less than 10 centimetres to several metres, and locally up to tens of metres in width, particularly where the structures intersect.
There are a number of known mineralized zones. The Azteca-Zapoteca prospect has the greatest potential for near-term gold resources, with a strike length of more than 1.4 km and a depth of 300 metres locally. Eight hundred metres northwest, the Angostura prospect has more than 1,000 metres strike length from surface to 335 metres depth locally. Approximately 4 km to the east is the Olmeca area consisting of northeast- and east-striking veins. The Pena de Oro prospect, 1 km north of Olmeca, has a strike length of more than 800 metres to a depth of 160 to 250 metres locally.
In the Olmeca area, the Socorro Vein has been defined as a 1,600-metre long, east-northeast-striking, and steeply north-dipping gold-bearing structure that remains open along strike and at depth. Approximately 2 km west, the Mortero Vein has been delineated over a 300-metre strike length to a depth of 300 metres, with high grade silver values but generally low gold values. It is unclear whether the Socorro and Mortero veins form part of the same mineralized structure. Five additional subparallel gold-bearing structures with extensive alteration zones have been located within the Olmeca area.