The Tarachi North group of mineral concessions consists of the San Javier, Pretoria and Chivitas concessions. The group is in close proximity to Agnico Eagle’s undeveloped Tarachi Gold deposit with an estimated mineral resource of 363,000oz of gold. Agnico’s Tarachi deposit is described as a large low-grade wallrock gold porphyry with satellite epithermal mineral occurrences and is part of a land package surrounding Agnico’s La India mine.
The San Javier concession is being targeted for shear-hosted high-grade, high-sulphidation epithermal gold deposits and gold-bearing mineralized breccias. Drilling conducted by Agnico Eagle in 2014 encountered high-grade intercepts including 34.5g/t Au over 5.0m and 24.3g/t Au over 3.0m in holes 100m apart on the San Javier concession. Wide, lower-grade intercepts from historic drilling in mineralized breccias were also previously encountered including 0.39g/t Au over 67m and 0.63 g/t Au over 20m. The sub-vertical hydrothermal breccias are hosted in a quartz-monzonite intrusive with gold mineralization associated with an alteration of Quartz-Sericite-Pyrite (QSP) with minor chalcopyrite in veinlets. Small artisanal mine workings are present in the area.
In the fall of 2020, Tarachi Gold began its first drilling campaign on the Tarachi Project. Highlights of the first nine completed drill holes include 11.9g/t Au over 2.0m including 21.1g/t Au over 1m and 5.39g/t Au over 5.6m including 15.7g/t Au over 1m. The breccia environment encountered in recent drilling is interpreted to be shingle breccias indicating the drill holes tested only the upper and typically lower grade portion of the pipe. A second phase of drilling is scheduled for March-April of 2021 to test the potential deeper extensions of the breccia systems.
Located in the middle of the Tarachi North concession group, Pretoria is host to a series of showings and artisanal workings and contains a widespread area of argillic alteration. The main areas of interest at Pretoria are around the historic workings of the Santa Eduwiges and La Quebrada mines. Pretoria is directly across the valley from Agnico’s Tarachi deposit.
Santa Eduwiges is host to a silicified hydrothermal breccia zone in a quartz-monzonite intrusive with concentrations of gold, copper, silver, lead and zinc. In the La Quebrada area the silica-clay alteration zone trends at least for 300-400m in length by 200m in width. The upper part of the historic La Quebrada Mine consists of breccia zones with fine quartz veinlets in rocks of the Tarahumara Formation (volcanoclastic sediments). In the lower part of the historic La Quebrada Mine here is a silicified hydrothermal breccia zone in a quartz-monzonite intrusive with pyrite, chalcopyrite and malachite. Minor lead and zinc values are also present.