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Cerro de Plata encompasses 10,000 ha and is located in the Sierra Madres approximately 40 kilometers directly north of Silvermex's field office in Magdalena de Kino, Sonora, Mexico, 50 kilometers south of the US border at Nogales Mexico and is 45 kilometers east of the Company's Peñasco Quemado project.
A 2007 exploration program consisted of detailed geological mapping, 1,528 metres of diamond drilling, 2.5 kilometres of road construction and trenching, ground IP-resistivity and airborne magnetic and radiometric geophysical surveys and reinterpretation of previously collected, high resolution aeromagnetic data.
Recent work programs conducted by Silvermex suggest mineralization was formed in a volcanic to sub-volcanic environment similar to those hosting many of the major copper-molybdenum porphyry deposits of northwest Sonora and southern Arizona. Mineralized zones are exposed in old underground workings, in a series of small pits and at surface that include copper oxides and carbonates. The information garnered from the programs support a copper-molybdenum porphyry geological model with associated epithermal silver vein type mineralization. The combined information also suggests the region has a volcanic cover that locally has been pierced by the porphyry and/or epithermal systems.
Technical staff believes that an extensive program of detailed geological mapping, geophysics and geochemistry followed by a second stage 5,000 metre diamond drill program is required to progress the project to the next decision point.
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