MVZ Silver Mine Project Update Chihauhau State Mexico
VANCOUVER, British Columbia, Oct. 14, 2020 (GLOBE NEWSWIRE) -- Global Li-Ion Graphite Corp. (“Global Li-Ion” or, the “Company”) (CSE: LION) is pleased to report that it has completed plans and arranged for a field due diligence and initial ground exploration program of the MVZ Silver Mine Property in Chihuahua state, Mexico. The Property is the subject of a recent letter agreement with Grupo Minero Diflor S.A. de C.V., a private Mexican Company, to acquire a 100% interest.
The 1750-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 field examination will include confirming the location of the claim monuments (mojaneras), sampling of the historic mines to confirm visually and with assays the presence of significant sulfide mineralization documented in prior historical work. In addition, the field crew will undertake reconnaissance traverses to establish both the size and scale of the mineral system and the local geologic framework which will assist with the geophysical interpretation. All field work will be done under the direct supervision of William Feyerabend CPG, the Company’s QP for the Project.
President John Roozendaal states, “We are excited to get an initial program underway at our Mexican Silver Mine Property with actual 'boots on the ground' in spite of the challenges being faced by exploration Companies working today in the era of Covid restrictions. The Company feels confident it can move forward successfully with exploration activity on our Mexican project due to the team of technical personal we are building in Mexico, Arizona and Canada, to guide and execute field programs and surveys.”
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