Projects
Pedro
Pedro Gold Property
The 100% owned Pedro gold property comprises ~25,000 hectares. Pedro is located approximately 80 kilometres northwest of the Penoles smelter at Torreon and is bisected by a paved highway and power lines.
In September 2013, Bearing entered into a Venture Agreement with Newmont de Mexico, S.A. de C.V ("Newmont"), a wholly owned subsidiary of Newmont Mining Coporation. Newmont has terminated its option agreement on Pedro with an effective date of July 11, 2014.
Newmont in 2014 drilled 11 drill holes totalling 1,744 metres of which two holes (409 metres) were cored and the remaining drilled by reverse circulation. Areas tested included the HP breccia prospect and its northern extension; a distance of some three kilometres. The best results were encountered in hole LP-013-R that returned a core length of 10.5 metres grading 0.51 grams per tonne gold from silicified conglomerate of the Ahuichila Formation. Details of the drilling are presented below. Drill intervals reported are hole lengths and true thickness for hole LP-013-R is estimated to be close to the reported core length. Results for all other holes were low to barren.
Table 1: Significant Intersections (Suffix R- reverse circulation, D- core)
The HP Breccia prospect is defined by a gold soil anomaly (greater than 40 ppb gold) extending over a 1,800 metre x 600 metre area that coincides with exposed silicified conglomerate of the Ahuichila Formation. Drill results from this area (holes 7 through 15) in large part reflect the results from surface sampling. Gold is mostly associated with the Ahuichila conglomerate with no values being present within the underlying Caracol Formation. No source or feeder system for this stratabound gold has been identified. The northern extension of the HP breccia prospect located 2 kilometres to the north is underlain by volcanic rocks and Aurora Formation limestone and was tested by holes 16 and 17. The Aurora Formation is weakly mineralised throughout with hole 17 returning 57 metres averaging 70 ppb gold. The Company will continue to compile all results received from Newmont including surface geochemistry, geophysics and drilling. Additional targets on this large property have yet to be tested and the property remains in good standing.
The 100% owned Pedro gold property comprises ~25,000 hectares. Pedro is located approximately 80 kilometres northwest of the Penoles smelter at Torreon and is bisected by a paved highway and power lines.
In September 2013, Bearing entered into a Venture Agreement with Newmont de Mexico, S.A. de C.V ("Newmont"), a wholly owned subsidiary of Newmont Mining Coporation. Newmont has terminated its option agreement on Pedro with an effective date of July 11, 2014.
Newmont in 2014 drilled 11 drill holes totalling 1,744 metres of which two holes (409 metres) were cored and the remaining drilled by reverse circulation. Areas tested included the HP breccia prospect and its northern extension; a distance of some three kilometres. The best results were encountered in hole LP-013-R that returned a core length of 10.5 metres grading 0.51 grams per tonne gold from silicified conglomerate of the Ahuichila Formation. Details of the drilling are presented below. Drill intervals reported are hole lengths and true thickness for hole LP-013-R is estimated to be close to the reported core length. Results for all other holes were low to barren.
Table 1: Significant Intersections (Suffix R- reverse circulation, D- core)
Hole |
From(m) |
To (m) |
Length (m) |
Au (g/T) |
|---|---|---|---|---|
LP-007-R |
4.5 |
16.5 |
12.00 |
0.23 |
LP-008-R |
33.0 |
37.5 |
4.50 |
0.35 |
LP-010-R |
31.5 |
37.5 |
6.00 |
0.21 |
LP-011-D |
4.0 |
9.6 |
5.55 |
0.59 |
LP-013-R |
51.0 |
61.5 |
10.50 |
0.51 |
LP-017-R |
144.0 |
201.0 |
57.00 |
0.07 |
The HP Breccia prospect is defined by a gold soil anomaly (greater than 40 ppb gold) extending over a 1,800 metre x 600 metre area that coincides with exposed silicified conglomerate of the Ahuichila Formation. Drill results from this area (holes 7 through 15) in large part reflect the results from surface sampling. Gold is mostly associated with the Ahuichila conglomerate with no values being present within the underlying Caracol Formation. No source or feeder system for this stratabound gold has been identified. The northern extension of the HP breccia prospect located 2 kilometres to the north is underlain by volcanic rocks and Aurora Formation limestone and was tested by holes 16 and 17. The Aurora Formation is weakly mineralised throughout with hole 17 returning 57 metres averaging 70 ppb gold. The Company will continue to compile all results received from Newmont including surface geochemistry, geophysics and drilling. Additional targets on this large property have yet to be tested and the property remains in good standing.