Tajitos

Au

Commodities

Orogenic Gold

Type of Deposit

Caborca

Municipality

6,100 Ha.

Surface Area

COMMODITY: Gold
LOCATION: Sonora, Mexico
SIZE: 61 km²
OPTION: Available for partnership

OVERVIEW

The 61 km² Tajitos Gold Project is located in the heart of the Sonora-Mojave Megashear Gold Belt. The Project is owned 100% with no underlying royalties. Since acquiring the property, Riverside has completed multiple surface and underground sampling and mapping programs and has staked additional ground (Tejo & Cortez claims) to expand the land package. Previous partner Centerra Gold completed further geophysics and a first round of drilling that included 1,832 metres of core across 8 drill holes at Tajitos.

EXPLORATION HISTORY & RESULTS

There have been at least three operational campaigns over the past 100 years on the property where mining has occurred on high-grade gold veins within shear zones. Three RC drill holes were completed by Penmont Mining Company in 2008, reportedly intersecting gold mineralization including: 2.03 metres grading 15.3 g/t Au and a different intercept of 8.12 metres grading 1.8 g/t Au. Samples from this drilling are not available and no check assays have been completed so the results cannot be relied upon. Riverside took 137, 1.5-metre-long channel (chip) samples on the Tajitos veins and summarized below:

  • 78 samples returning >0.5 g/t Au.
  • 54 samples returning 0.5 g/t to 1 g/t.
  • 18 samples returning 1 g/t to 3g/t.
  • 11 samples returning 3g/t to 5 g/t Au.
  • 3 samples returning 5g/t Au to 10 g/t Au (up to 34 g/t Au).

In addition, 180 underground rock chip channel samples were completed by Riverside to trace the veins and mineralized zones. Gold assay values showed:

  • 27 samples over 1 g/t gold
  • 9 samples greater than 5 g/t gold (up to 17 g/t gold).
  • Sampling in the adit which cuts across a possible thrust zone identified several narrow fault zones which contained 0.012 to 6.9 g/t Au, suggesting that deeper gold targets may exist. 

2016 DRILLINGHighlighted intercepts from the core drilling included (reported intervals are approximate true width):

  • T16-001D, 3.00 metres @ 1.14 g/t gold starting at 297.00 metres depth (hole ended in mineralization)
  • T16-002D, 11.10 metres @ 0.78 g/t gold starting at 185.90 metres depth
  • T16-005D, 3.00 metres @ 6.12 g/t gold starting at 48.00 metres depth
  • T16-008D, 1.50 metres @ 6.03 g/t gold starting at 42.00 metres depth; Drill hole location map with highlighted intercepts & cross sections

Mineralization intersected in the Tajitos drilling correlates with fault zones and lithologic contacts and further drilling is required to determine the mineralization extent and tenor. Initial evaluation of trace elements from 6 of the holes and surface sampling show an enrichment in As, and Sb within the gold zone and in the footwall below gold enriched zones. Lead is also elevated in the areas with the highest gold values. This geochemical pattern was also seen in previous trench and channel sampling works. Suggesting patterns of trace and base metals will be examined with regard to future drill targeting and multi-element vectoring to gold zones can be conducted. The drilling at Tajitos provides key structural and stratigraphic information allowing fault control modeling and detailed investigation of alteration patterns and paragenesis of the gold mineralization on the property.

GEOLOGY

The principal structural vein system trends N55W with a secondary system trending N20W, both within an altered volcanic and sedimentary Jurassic and Pre-Cambrian sequence similar in structural orientation, mineralization style and host lithologies to the Herradura Mine and the El Chanate Mine both located within 100 km of the Tajitos Project and accessed by the same interstate highway. The Tajitos vein system is exposed on surface for over 2 km and trends southeast to the highway and onto the valley floor where it extends under fill onto the strategically Riverside-owned Tejo concession.  These two concessions contain mineralization similar to the Penoles-held project to the immediate north.  This geological fact coupled with the project being located next to the highway makes Tajitos-Teco and excellent area to look for both high-grade veins and larger bulk tonnage deposits.

INFORMATION

REPORTS AND PRESENTATIONS

CONCESSIONS

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