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July 6, 2021, Vancouver, BC, Canada - Madoro Metals Corp. (“Madoro” or the “Company”) (TSXV: MDM, OTC: MSTXF, WKN: A2QQ1X) a mineral exploration company focused on Oaxaca, Mexico, is pleased to provide an update on recent exploration results from its Yautepec project. As per the Company’s press release of April 22, 2021, Madoro added three new mining concessions covering the southern extension of its project based on the Company’s exploration model for bonanza-grade Au-Ag polymetallic epithermal systems in Oaxaca. Madoro had since followed up by dispatching its exploration team to map and sample the southern portion of its concessions and encountered a previously unknown 7-km trend of epithermal alteration and veining along the trace of the southern project of the Yautepec project supervolcano (caldera). Specific high-potential exploration targets in this area include the Tecolote, Tortuga-Guiluna, and Southern Dike-Tepeztate vein systems as illustrated below.
Highlights of assays recently received from these areas include:
- 12.35 g/t Au and 1,250 g/t Ag from a 0.10 meter quartz vein grab sample within a 400 by 200 meter stockwork vein complex (‘Tecolote’ zone)
- 0.54 g/t Ag, 1630 ppm Cu, and 1.26 wt% Zn from a 0.10 meter vein within a 1.1 km dike and vein system; samples along this zone (‘Southern Dike’) contain up to 0.30 g/t Au
(Summary geochemical tables for each area appended after text)
“Our recent push into unexplored areas at Yautepec has yielded solid and very positive results, uncovering multiple new mineralized centers, demonstrating proof of concept for our exploration model,” said David Jones, Madoro Metals’ Exploration Manager and Director. “A general characteristic of districts with a good potential for hosting economic ore bodies is that they look consistently better with work over time; this is certainly the case at Yautepec, and we look forward to continued good news from the field.”
Of particular interest is that samples from the Tecolote and Southern Dike areas are at or near the level of fossil surface hot springs (i.e., a ‘paleosurface’), meaning the entire vertical run of potential bonanza epithermal grades is conserved at depth. Metal anomalies are characteristically weak to absent in rocks from paleosurface environments, and thus any anomalies are considered highly favorable as an exploration guide.
The Madoro team has since focused its exploration efforts along the continued western projection of this mineralized trend, the results from which will be in a subsequent news release.
The Yautepec project is associated with a large ‘supervolcano’ (caldera) that lies within a larger 120-kilometer volcanic belt hosting both Fortuna Silver’s (NYSE: FSM) San Jose mine and Gold Resources Corp. (AMEX: GORO) Arista-Switchback mine. The areas discussed in this release were recently discovered through systematic application of Madoro’s exploration model for bonanza grade Au-Ag-polymetallic epithermal systems in Oaxaca.
Summary tables of geochemical results from recent rock chip sampling in the three newly discovered areas in southern Yautepec project follow (highly anomalous values in bold):
Tecolote Area Rock Chip Sampling Results (n = 34) | ||||
| Element | Maximum value | Samples with Significant values | Lithology of highest value sample |
Precious metals | Ag | 1,250 g/t | 10 > 0.5 g/t | Epithermal vein complex near paleosurface |
Au | 12.35 g/t | 5 > 0.05 ppm | Epithermal vein complex near paleosurface | |
Base metals | Cu | 66.6 ppm | 7 > 20 ppm | Quartz vein breccia |
Pb | 171 ppm | 6 > 20 ppm | Quartz vein breccia | |
Zn | 232 ppm | 13 > 50 ppm | Oxidized quartz veinlets in tuff | |
Mo | 286 ppm | 13 > 20 ppm | Quartz-veined breccia near paleosurface | |
Pathfinder elements | As | 8400 ppm | 11 > 800 ppm | Ferruginous carbonate sinter at paleosurface |
Ba | 6180 ppm | 14 > 1100 ppm | Laminated carbonate sinter at paleosurface | |
Hg | 0.34 ppm | 5 > 0.10 ppm | Oxide veinlets in argilllized(?) travertine at paleosurface | |
Sb | 31.2 ppm | 5 > 10 ppm | Ferruginous carbonate sinter at paleosurface | |
Se | 80 ppm | 4 > 1 ppm | Banded quartz vein | |
Te | 0.88 ppm | 4 > 0.4 ppm | Oxidized vein breccia | |
Tl | 10.6 ppm | 8 > 1.0 ppm | Iron-rich carbonate sinter at paleosurface | |
Tortuga-Guiluna Vein Rock Chip Sampling Results (n = 24) | ||||
| Element | Maximum value | Samples with Significant values | Lithology of highest value sample |
Precious metals | Ag | 1.7 g/t | 3 > 0.50 g/t | Silicified hydrothermal breccia subjacent to paleosurface |
Au | 0.06 g/t | 3 > 0.02 ppm | Silicified hydrothermal breccia subjacent to paleosurface | |
Base metals | Cu | 10.8 ppm | n/a | Oxide vein in tuff subjacent to paleosurface |
Pb | 25 ppm | 2 > 20 ppm | Oxide fracture in argillized tuff subjacent to paleosurface | |
Zn | 87 ppm | 13 > 20 ppm | Oxide vein in tuff subjacent to paleosurface | |
Mo | 63.8 ppm | 6 > 10 ppm | Oxidized quartz veinlet subjacent to paleosurface
| |
Pathfinder elements | As | 6120 ppm | 6 > 100 ppm | Ferruginous carbonate sinter at paleosurface, possibly w/laminated oxidized sulfides |
Ba | 2970 ppm | 20 > 100 ppm | Oxidized fracture in argillized tuff subjacent to paleosurface | |
Hg | 21.6 ppm | 9 > 0.50 ppm | Oxidized and argillized volcanic rock subjacent to paleosurface | |
Sb | 73.2 ppm | 3 > 10 ppm | Ferruginous carbonate sinter at paleosurface, possibly w/laminated oxidized sulfides | |
Se | 1.2 ppm | 2 > 1 ppm | Oxidized fracture in tuff subjacent to paleosurface | |
Te | 0.15 ppm | 5 > 0.50 ppm | Ferruginous carbonate sinter at paleosurface, possibly w/laminated oxidized sulfides | |
Tl | 0.92 ppm | 8 > 0.20 ppm | Ferruginous carbonate sinter at paleosurface | |
Southern Dike – Tepeztate Vein Rock Chip Sampling Results (n = 24) | ||||
| Element | Maximum value | Samples with Significant values | Lithology of highest value sample |
Precious metals | Ag | 0.55 g/t | 2 > 0.50 g/t | Carbonate veined tuff |
Au | 0.30 g/t | 3 > 0.10 ppm | Quartz veins in lithic tuff | |
Base metals | Cu | 1630 ppm | 1 | Strong oxide veining in fractures |
Pb | 19.9 ppm | na | Carbonate vein | |
Zn | 1.26 % | 2 > 60 ppm | Strong oxide veining in fractures | |
Mo | 8.72 ppm | 3 > 3 ppm | Brecciated quartz vein in silicified and argillized rhyolite dike | |
Pathfinder elements | As | 347 ppm | 10 > 100 ppm | Oxidized fractures in lithic tuff |
Ba | 590 ppm | 16 > 100 ppm | Veined lithic tuff | |
Hg | 0.53 ppm | 1 | Strong oxide veining in fractures | |
Sb | 3.04 ppm | 1 | Strong oxide veining in fractures | |
Se | 6.2 ppm | 1 | Strong oxide veining in fractures | |
Te | 0.05 ppm | 1 | Strong oxide veining in fractures | |
Tl | 0.48 ppm | 2 > 0.26 ppm | Oxidized fractures in lithic tuff | |
Rock chip samples were prepared for analysis at the ALS-Global facility in Guadalajara, Jalisco, Mexico, and pulps were then sent for analysis at ALS-Global laboratory in Vancouver, B.C., Canada.
The technical content of this news release has been reviewed and approved by Robert Johansing, M.Sc., Economic Geologist, and a Qualified Person pursuant to National Instrument 43-101.
About Madoro Metals Corp.
Madoro Metals Corp. (MDM | TSX Venture Exchange; MSTXF | OTC) is a Mexico-focused precious metals company actively engaged in exploration and development of three gold-silver projects in the state of Oaxaca, Mexico. The Yautepec, Magdalena, and Rama de Oro projects each consist of large epithermal systems that are highly prospective for precious metals in structural and geologic settings similar to those of nearby producing mines. Systematic exploration has advanced two of the projects towards drilling with the intention of discovering an economic mineral deposit.
On behalf of Madoro Metals Corp.
“Dusan Berka, P. Eng.”
President & CEO
For more information, please contact: Investor Relations via email at info@madorometals.com.
#1450 – 789 W. Pender Street
Vancouver, BC, Canada V6C 1H2
Tel: +1 (604) 681-1568
Email: info@madorometals.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release may contain forward-looking statements including but not limited to comments regarding timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. Madoro Metals Corp. relies upon litigation protection for forward-looking statements.
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