Ownership: 100% Candelaria Mining Corp.
Land Package: 19,650 ha; 14 contiguous mining claims
Location: The Caballo Blanco Project is located on the eastern coast of Mexico in the state of Veracruz, 65 km northwest of the city of Veracruz. This is a major port and municipality on the Gulf of Mexico and is well connected with an international airport. The city is located along the coast 90 km north of the state capital of Xalapa along Highway 140 and has a population of 554,830.
Access: The Project is easily accessible and close to infrastructure. All materials and supplies needed for ongoing exploration, development and mining can be transported by truck via the Pan American Highway and new paved roads. The topography is semi rugged reaching elevations up to 700 m amsl. Communications are well established with phone lines and high-speed internet. Water supply is derived from local wells.
Geology & Mineralization: Two large centres or clusters of epithermal and porphyry-hosted gold mineralization have been discovered within the property, referred to as the Northern Zone (includes the most advanced project, La Paila) and the Highway Zone.
La Paila is a high sulphidation fully oxidised epithermal deposit and has seen the bulk of the development work to date, being exposed at surface, but it is only one of 7 very similar targets in the Northern Zone. The gold is very fine and occurs within a vuggy and brecciated silica alteration of an original andesite host rock in the upper levels of the surrounding epithermal system. All are prominent high-sulphidation epithermal gold prospects that occur within extensive areas of clay and silica alteration. Similar alteration zones have been recognized at La Cruz and the Highway Zone, along a north-south linear trend over 9km in length.
La Paila, located on the north end of this trend, is oxidized at surface and to a least 300m in depth and was the focus for early exploration and resource development on the property. The gold is very fine and occurs within a vuggy and brecciated silica alteration of an original andesite host rock in the upper levels of the surrounding epithermal system. The elongate and silicified gold rich mineralization at La Paila likely formed from fluid rising along a north trending fault structure well above a deeper intrusive ‘heat source’.