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The La Frazada mine is located in the historic mining district of Real del Zopilote, in the state of Nayarit and along the south west margin of the Sierra Madre Occidental. The property is approximately 300 km northwest of Guadalajara. The overall concession totals 360 hectares, which was staked by Silvermex in March, 2008. Location The property lies along the contact between the Upper and Lower Volcanic Series, an unconformity that hosts many of the significant precious metal deposits in the Sierra Madre Occidental. Specifically the geology consists of Tertiary age, Lower Volcanic andesites overlain by Upper Volcanic rhyolites, tuffs, breccias and ignimbrites. All the volcanic rocks have been affected by the intrusions of granodiorite, diorite and andesitic porphyry. The principal mineralized zones which lie between 10 and 15 meters apart, are the La Jabalina and La Frazada Veins. These two parallel structures vary in width from 3 to 15 meters, strike to the North West (general azimuth of 250°) and are moderately to steeply dipping (60° to 70°) to the South West. Both mineralized zones either outcrop or are exposed in trenches and underground workings along strike for more than 3 kilometers within the claim boundaries. A brief survey of the underground workings indicate the structures are exposed over a vertical distance of at least 300 meters and are open down dip. The tunnels are of relatively easy access but will require some re-conditioning. Historical records indicate a foreign company operated the mines and a small smelter between 1890 and 1910. Operations apparently ceased at the time of the Mexican Revolution. Unverified sources indicate that bonanza grade silver (i.e. up to 1.5 kg/t) and an undisclosed quantity of gold were recovered from these operations. In 1985 Compania Minera Nival completed construction of a 280 tpd mill and development of an extensive series of underground workings including a 1,300 meter tunnel that allowed access to the La Jabalina vein at 6 different levels. These workings were used to access a 900 meter long, 350 meter high ore shoot that appears to be only partial mined. Prior to its abandonment, it appears Nival had been preparing for a more extensive mining program as 5 meter wide ramps had been completed which would have allowed for significantly higher production rates from La Jabalina. Previous owners have reported that exploration results from the Jabalina tunnel include a one meter channel sample of vein material that assayed 19.3 oz/t silver and 0.19 oz/t gold. The mine closed in 1997 due to low metal prices. Activity Silvermex has completed a systematic sampling and mapping program along the 3 kilometer surface outcrops and the underground workings in which the La Jabalina and La Frazada vein and breccias systems are exposed. Management believes the El Zopilote District is a large mineral system that may be part of a volcanic caldera complex. In addition to being a favorable environment for hosting epithermal deposits the geology of the region suggests it may also be favorable for hosting volcanogenic massive sulfides targets. This work provided sufficient data to produce a mineral resource estimate which is outlined in the following table:
The above block model resource estimate is based on a cut-off grade 80 grams of silver per tonne, 0.75% lead and 1% zinc. Technical Report
Property Photos:
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