Centenario Gold Corp. (TSXV:CTG) has announced the completion of the first phase exploration program at its Los Reyes Project near Chihuahua, Mexico, where initial underground sampling has encountered high-grade copper mineralization. The program, which included mapping and sampling of old mine dumps and underground workings along the intrusive-limestone contact zone, has identified Cu-rich skarn zones that were historically mined by ASARCO in the late 1800s to early 1900s. Approximately 200,000 tons of Cu-Zn-Ag material was extracted from Los Reyes during that period, according to old government records.
The Los Reyes Project is located 225 km south of Chihuahua City, along Highway 49, with the El Rey mineral claim hosting the most significant old mine workings. The property consists of two mineral claims: El Rey (36.0 hectares) and El Rey 2 (9.3 hectares), each covering a segment of the intrusive-sediment contact where mineralization occurs. The exploration work focused on the El Rey claim, where Penoles, a major Mexican mining company, controls surrounding ground around the granodiorite intrusive.
The first phase exploration program involved geological reconnaissance, alteration mapping, and the collection of 58 rock samples from surface outcrops, old waste dumps, and underground workings at the Tuesda and Jibosa mines. Samples were analyzed by ALS Chemex using standard Fire Assay for gold and acid digestion for 34 other elements. The mineralization at El Rey occurs as chalcopyrite, bornite, malachite, azurite, and chalcocite within irregular, semi-tabular lenses or bodies up to 60 meters wide. Some zones previously mined by Asarco exceeded 125 meters in length. The mineralized zone below the Tuesda shaft showed a thickness of up to 20 meters, while at Jibosa, the thickness did not exceed 15 meters.
The alteration shows typical skarn zoning patterns, varying from skarn to marble and recrystallization in limestone, with hornfels in the overlying unit. Higher sulfide content is presumed to persist further north of the Tuesda Shaft, with fragments of magnetite and skarn found in old mine dumps, suggesting Cu-Au skarn-type mineralization. The results from the 58 rock samples are expected by mid-June, and the company plans to release the assay data promptly. This information will help understand the controls, distribution, and extension of mineralization.
The next phase of exploration is a drilling program scheduled to begin in July, designed to test the strike and down-dip extensions of the Cu-rich skarn zones identified by the underground sampling. The proposed 1500-meter drill program will target areas near the Jibosa and Tuesda mining shafts. Derrick Strickland, an independent Qualified Person as defined by National Instrument 43-101, has reviewed and approved the technical disclosure in this release. For more information, visit www.centenariogold.com.
