PROJECTs • Exploration projects
Lourdes, Guanajuato
509 ha
three concessions
~770 m
El Tigre vein strike
0.35-6.0 m
El Tigre vein width
US$825,000
staged option over two years
Overview
Lourdes is a 509 hectare package of three concessions in the El Cubo district of the Sierra del Cubo, near Buenavista del Cubo in the municipality of San Felipe, about 40 kilometres northeast of Guanajuato City. Guanajuato has been mined for around 480 years. Six low sulphidation epithermal gold-silver veins have been mapped in Tertiary rhyolite. The main target, the El Tigre vein, runs about 770 metres along strike and is 0.35 to 6.0 metres wide, above a 400 metre silicified footwall stockwork that is 15 to 30 metres wide. Small-scale underground mining took place from about 1906 to 1923, and the old shafts are flooded or inaccessible.
Historical work (unverified)
Previous operators collected 1,093 rock chip and trench samples in 2012 and 2013, which returned up to 39.9 g/t gold and 378 g/t silver. The footwall stockwork returned 0.015 to 3.91 g/t gold and was never drill tested. Seven holes totalling 1,424 metres were drilled in 2003 and 2004, but they tested the veins only to 100 to 150 metres and core recovery was below 50%.
Our Plan
We will compile the historical database, then map and sample El Tigre and the stockwork to confirm the grades. We then plan to define targets below the historical holes, where the system is open, and drill as soon as permitting allows.
The Deal
On October 5, 2026 we signed an option to acquire a 100% interest in Lourdes from Guanajuato Silver for US$825,000 over two years. The option carries no minimum exploration spend.
Cautionary Note
Historical results were generated by previous operators (Minera Hochschild 2003-04; Endeavour Silver 2012-13), have not been verified by the Company and should not be relied upon. Rock chip samples are selective and may not be representative. Sampled widths are not true widths.
project
Company | Market Cap. | Project Name and Location | Resources and Reserves |
|---|---|---|---|
Rio Tinto | n/a
| Jadar, Serbia
| 85.4 Mt @ 1.76% LiO2 and 16.1% B2O3 (Ind.); 58.1 Mt @ 1.87% Li2O and 12.0% B2O3 (Inf.)¹. |
Ioneer Ltd. | AUD 510 million (12 month high of AUD 925 million)
| Rhyolite Ridge, CA
| 146.5 Mt @ 0.35 % LiO2 and 4.56 % B2O3 (M+I+I)².
|
5e Advanced Materials Inc. | AUD 214 million (12 month high of AUD 969 million) | Fort Cady, CA | 74.3 Mt @ 0.076 % LiO2 and 4.15% B2O3 (M+I); 96.9 Mt @ 0.069 % LiO2 and 4.75% B2O3 (Inf.)³. |
¹ Rio Tinto updates Ore Reserves and Mineral Resources at Jadar, Notice to ASX, 23 February 2022.
² IONEER USA Corp. Rhyolite Ridge Lithium-Boron Project Definitive Feasibility Study (DFS) Report (Li2CO3 and H3BO3 values converted to LiO2 and B2O3).
³ 5e Advanced Materials Inc., Form 8-K, May 11, 2023. Commission File Number 001-41279