38 Kms from Parral City, Chihuahua, Mexico
Type of Project
Epithermal, high-grade, vein, silver-gold-lead-zinc-copper project, skarn, porphyry.
Size and Scope
The project covers an approximate area of 845 hectares, distributed over fifteen Mining Concessions. Access agreements have been signed with the two farms that have the surface rights, for a period of five years.
Kingsmen has successfully consolidated the fragmented ownership in a historic brownfield mining district where local communities are fully supportive of mineral exploration.
The Las Coloradas brownfield project is located within the north-east portion of the Central Mexican Silver Belt, in the southeastern corner of the Parral mining district, approximately 40 kilometres east of the San Francisco de Oro and Santa Barbara active mining districts. Major world-class mining projects are currently being explored in the district and its proximities; Veta Colorada (Endeavour) in Parral, Cordero (Discovery Silver Corp.), 35 kms north of Parral, Los Gatos (Electrum), 100 kms, north of Parral. GoGold Resources Inc is currently processing historic mine tailings in the city of Parral. Asarco historically exploited the Las Coloradas mineralization, which is classic silver-zinc-lead- gold hosted in high-grade epithermal veins similar to the Santa Barbara and San Francisco de Oro mining districts. Currently, two principal NW-trending vein systems, Soledad and Soledad II are recognized. The lengths of the vein systems are variable and outcrop from 50 m to 500 m with discontinuous outcrops along 3 km. Skarn and porphyry mineralization have also been recorded in the project by the Mexican Geological Survey.
Kingsmen Resources is the first junior to consolidate/explore this district. There is a seven-year option to earn 100%, no significant payments until year 5, total purchase of USD$2,140,000. While major mining companies have worked in the area (Coeur Mining, Electrum Group), no one company has controlled all the claims collectively. Kingsmen Resources works with the locals and the communities fully support mineral exploration. The mine has similar geology to the Santa Barbara and San Francisco del Oro mining districts, where vein mineralization persists to depths of 600 – 1,000 meters. The surface mapping and sampling is complete and the plans are for IP/R, magnetics & diamond drilling.