Global Li-Ion Signs Letter Agreement to Acquire Past Producing Silver-Gold Property Chihauhau State Mexico
VANCOUVER, British Columbia, Sept. 22, 2020 (GLOBE NEWSWIRE) -- Global Li-Ion Graphite Corp. (“Global Li-Ion” or, the “Company”) (CSE: LION) (OTC: GBBGF) is
pleased to announce that it has entered into a letter agreement with Grupo Minero Diflor S.A. de C.V. a private Mexican Company to acquire a 100% interest in the MVZ Silver-Gold Mine Property in
The 1200 hectare Property hosts 3 past producing silver-gold deposits, El Moro, La Virginia and La Zorra (MVZ Property). The Property is situated within Grupo Minero Diflor’s Pajarito Project which covers a 10 X 25 km, fault-bounded exposure of older sediments and intrusives surrounded by voluminous younger post-mineral rhyolites. The Pajarito Project covers a large mineral system with widespread epithermal mineralization and multiple examples of porphyry-style potassic and propylitic alteration. The older rocks are broadly altered and host artisanal mines. In the silver dominant MVZ triangle, breccia and intense shear-hosted sulfide mineralization has silver values up to +1,000 grams per tonne silver, multiple percentages of lead and zinc with gold credits.
The MVZ Mine Property, based on aero magnetics and pegmatitic quartz on a dump, is interpreted to be located over an intrusive. The La Zorra mine has open stopes up to 10 meters high. The mine has essentially no dump and mined material was shipped directly by truck to the smelter. There also are nearby gold prospects on the concession reporting multi-gram gold assays. Diflor is the first to conduct modern sampling and geological mapping but the Project remains unexplored by modern geophysical surveying, drilling or other modern exploration and prospecting programs.
The Property is located in the south west of Mexico’s Chihuahua state adjacent to Sinaloa and within the prolific Sierra Madre Gold-Silver Belt which hosts numerous multi million-ounce gold-silver deposits. The Sierra Madre Belt is prolific country for silver-gold explorers. In this portion of the Belt are the following past and present producers. The MVZ Mine Property is located 60km south of the Gold Corp’s past producing 1.75M ounce El Suazal Gold Mine, is located 85 KM north of McEwen Mining Inc., Fenix Project (El Gallo) which reports a measured and indicated resource of 32.3 M oz of Silver and is 100 km northwest of historic Guadalaupe y Calvo mine which produced 2 M oz gold and 35 M oz silver.