Madoro Metals Receives Positive Results from its Age-Dating Rock Analysis in Oaxaca, Mexico
Results to be presented at the upcoming October 5Madoro Metals Corp. ("Madoro" or the "Company") (TSXV:MDM) (OTC:MSTXF) (WKN:A2QQ1X), a mineral exploration company focused on Mexico, is pleased to announce results from a limited program of uranium-lead ("U-Pb") age dating on selected caldera-system (supervolcano) rocks from the region of its active exploration programs in the state of Oaxaca. The study was undertaken to better quantify the relative ages of rocks associated with gold, silver, and base metal mineralization at the Company's projects and compare these to the ages of similar rocks from the areas of nearby producing mines (e.g.: Gold Resource Corp.'s Arista-Switchback and Alta Gracia mines), which lie approximately 30 kilometers along trend from the Company's property. It was previously speculated, based on our understanding of local and regional geologic controls, that these mineralized systems are similar in nature and with similar upside exploration potential for bonanza grade Au-Ag polymetallic epithermal deposits.
"These age-date results are proof of our concept that our properties are part of a continuous belt of caldera systems that have shown exceptional potential for hosting bonanza grade Au-Ag epithermal deposits," said David Jones, Exploration Manager and Director of Madoro Metals. "The calderas associated with Gold Resource Corp.'s producing Arista-Switchback mine are indistinguishable in age from the dates obtained from our Yautepec project. We are encouraged to have formally demonstrated the contemporaneity of our Yautepec project caldera with the ages of nearby producing mines along this rapidly emerging Au-Ag belt."
U-Pb ages obtained from 4 distinct calderas (D. Jones unpublished mapping, 2000-present) are presented in the following table:
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|Table 1: U-Pb Zircon Age Dates of Select Caldera-system Rocks of
Oaxaca |
|(Analyses by Victor Valencia)
|
|----------------------------------------------------------------------------------------------------------------------------|
|Caldera |Sample No. |Longitude |Latitude |Age (error)
|Description |
|----------------------------------------------------------------------------------------------------------------------------|
|Margaritas |538760 |-96.19568 |16.711655 |18.9 +/-
0.2|Moderately welded rhyolite crystal tuff with no lithics|
|----------------------------------------------------------------------------------------------------------------------------|
|Pozuleros |538759 |-96.08058 |16.645947 |18.3 +/-
0.2|Welded rhyolite crystal-rich tuff |
|----------------------------------------------------------------------------------------------------------------------------|
|De La Gracia |765629 |-96.08995 |16.654957 |18.5 +/-
0.2|Weakly welded rhyolite crystal tuff |
|----------------------------------------------------------------------------------------------------------------------------|
|Yautepec: |765627 |-95.87813 |16.462215 |19.0 +/-
0.3|Weakly welded dacite crystal |
|Intra-caldera tuffs| | | |
|tuff with minor lithic load |
|
|--------------------------------------------------------------------------------------------------------|
| |765628 |-95.96093 |16.545902 |18.1 +/-
0.2|Modestly welded rhyodacite crystal lapilli tuff |
|----------------------------------------------------------------------------------------------------------------------------|
|Yautepec: |765630 |-96.00912 |16.427162 |18.0 +/-
0.2|Flow foliated rhyodacite dike crosscutting diorite |
|Resurgent | | | |
| |
|intrusions | | | |
| |
|
|--------------------------------------------------------------------------------------------------------|
| |765631 |-96.00506 |16.426248 |18.0 +/-
0.2|Medium-grained holocrystalline diorite |
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The results indicate that:
-
- The 3 calderas associated with Gold Resource Corp.'s active Arista-Switchback mine and related epithermal systems all developed between approximately 19-18 Ma (million years ago).
- The caldera system associated with the Company's Yautepec project developed in a similar age range of approximately 19-18 Ma.
- The similarities in ages indicate that the area of Gold Resource Corp.'s producing mines and Madoro's Yautepec entire project area is part of a singular magmatic-structural-hydrothermal system spanning 60-kilometers distance; the entire trend may be considered to have similar potential for high-grade epithermal Au-Ag polymetallic deposits
Accompanying Figures 1-3 show, respectively, the locations of identified caldera systems relative to active mining and exploration efforts, the locations of samples for the age dates in Table 1, and our inference of the significance of these results.
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Figure 1: Locations of identified calderas relative to active mines and Madoro Metals Corp. exploration projects.
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Figure 2: Sample locations of age dates in Table 1.
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Figure 3: Interpretation of the significance of Madoro Metals Corp. age dating results.
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.
Mr. David Jones, Exploration Manager and Director of Madoro Metals, will be presenting these findings at the Discoveries Mining Conference from October 5-7, 2021 in the mining capital of Mexico Hermosillo, Sonora, where he will be speaking ( https://www.discoveriesconference.com ). Mr. Jones' presentation will incorporate what these findings mean for the emerging Au-Ag polymetallic belt of Oaxaca, Mexico, and the potential for exploration success on Madoro Metals' properties.
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 like 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 THE BOARD OF DIRECTORS
"DUŠAN BERKA"
Dušan Berka, P. Eng., President & CEO
For more information, please contact: Investor Relations via email at info@madorometals.com ;
www.madorometals.com
#1450 - 789 West 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.