Madoro Metals Samples up to 12.35 g/t Gold and 1,250 g/t Silver from Newly Discovered Vein Complex at Yautepec Project
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
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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.