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| Last: CDN$0.950 | Last: €0.764 | Last: US$0.909 |
Projects
Cordero Property
Norma Sass Property
Ruf Claims
Eagle Claims
Las Mesas Project
Congress Property
BRX / Wayside Claims
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Porphyry-style silver, gold, lead and zinc
Large Bulk Mineable Targets Part of an Emerging Porphyry District
The 20,000-hectare Cordero property encompasses two high-level porphyry districts within the Chihuahua-Zacatecas porphyry belt, an emerging trend that includes Penasquito (Goldcorp), Camino Rojo (Canplats), San Agustin (Silver Standard) and others. Cordero contains a large, 15 km x 3.5 km mineralized system with discovery potential for multiple bulk tonnage, open pit deposits and extensive, open-ended geochemical and IP anomalies. Drilling in 2009 and 2010 has encountered significant and consistent mineralization. Phase 3 drilling, aimed at expanding key mineralized zones and investigating other targets property-wide, is ready to begin in the fall of 2010. The recent $7.5M financing ensures that Phase 3 exploration will proceed as planned.
Please see Levon's 2nd Quarter MD&A for a detailed discussion of Cordero exploration in 2009-2010, along with plans for Phase 3 drilling in fall 2010.
Along A Major Silver, Gold, Lead and Zinc Belt
In Chihuahua and Zacatecas, a number of new discoveries are outlining an area that appears to constitute a major silver, gold, lead and zinc porphyry belt. Cordero covers well-mineralized intrusive centres that have not been fully appreciated or explored within this belt. Small-scale, ongoing underground production on high-grade silver and zinc breccias and vein zones at Cordero contain significant gold values and support the broader exploration potential for major deposits.
Outstanding Values in Phase 1 and Phase 2 Drill Campaigns
An 8-hole, 2,840m HQ core drill program at Cordero in 2009 generated outstanding results, including 152 metres grading 80.6 g/T silver, 0.61 g/T gold, 1.41% zinc and 1.22 % lead, and included 72m grading 150.16 g/T silver, 1.06 g/T gold, 2.48% zinc, 2.27% lead in diatreme breccia. This program tested five targets within the Cordero Porphyry Belt. Details of the 2009 drill program are availabe in Levon's News Releases dated November 3 and November 24, 2009.
Phase 2 drilling, which began in January, 2010, was designed to offset Phase 1 discovery holes and continue outlying exploration. By June 2010, 52 core holes totaling 19,338m had been completed. Phase 2 also included geologic mapping and discovered another untested mineralized diatreme complex, the Dos Mil Diez zone, which lies southwest of the Pozo de Plata zone. Follow up trenching and initial drilling established Ag, Au, Zn and Pb anomalies that warranted drill follow-up.
Phase 2 results were highlighted by a major discovery hole, C10-41, which intersected porphyry-type mineralization over the entire 503.45m hole depth (where the hole was lost in highly broken and mineralized ground). Long assay intervals confirm the bulk tonnage nature of the mineralization. A highlight was 170m grading 17.33 g/T Ag, 0.03 g/T Au, 0.638 % Zn, 0.438 % Pb (62.9 g/T Ag equivalent), which included a higher grade interval of 64m grading 28.4 g/T Ag, 0.033 g/T Au, 1.01 % Zn, 0.816 % Pb (105.3 g/T Ag equivalent).
A third diatreme complex, Molina de Viento, was discovered seven kilometers to the southwest in March 2010. Molina de Viento marked the sixth aligned intrusive center presently known on the property and expanded the strike length to 15 kilometers.
Six main targets now constitute the current exploration focus:
Cordero comprises disseminated and vein-hosted pyrite, sphalerite, galena and argentite mineralization developed in several ENE-oriented structures. The geological setting is similar to the Penasquito Mine.
Sanson consists of a 1,500-metre dome formed by the intrusion of a single quartz monzonite porphyry into the host sediments. Trenching and drilling have encountered quartz molybdenum stockwork mineralization. The system shows a number of similarities with the Penasquito Mine and Camino Rojo and San Agustin projects.
Pozo de Plata (Silver Well) was discovered in late 2009, and it expanded the porphyry district by about 2 km to the southwest along the strike of the mineralized porphyry belt. This new target is defined by mapping and sampling results that establish the presence of a poorly exposed, mineralized rhyolite dike and diatreme complex in an area of alluvial cover. There is no evidence of past exploration work in this area except for the accidental exposure of silver bearing breccias in a recently deepened water well.
Dos Mil Diez, discovered by surface mapping and prospecting at Cordero-Sanson in January 2010, Dos Mil Diez has broadened the mapped extent of the belt another two kilometres southwest of Pozo de Plata into an area of limited bedrock exposure. Ongoing mapping has now delineated a two-kilometre-diameter area defined by circular features comprised of additional hematite stained breccia and islands of domed limestone country rocks. The Dos Mil Diez zone adds significantly to the project's overall potential. Current interpretations of this new zone are that it may represent a surface expression of a larger diatreme complex.
Josephina Mine Diatreme, was discovered by drilling east of the Pozo de Plata diatreme. Several wide intervals of mineralization were encountered that were hosted in Tertiary dacite breccia dikes, vein zones and mineralized diatreme breccia as projected -- including 116 m grading 122 g/T Ag equivalents from 300 to 416 m in hole C10-23. Additional drilling is required to define the limits of the Josephina mineralization and completely test the areas between the zones.
With the addition of the C10-41 drill hole discovery, the prospective mineralized belt has been defined through a strike length of 15 km and a width of about 3 km. Current exploration is focused on five intrusive centers, targeting deposits geologically similar to Penasquito, Pitarrilla and Camino Rojo.
Excellent Infrastructure near Population Centre
The property and region host excellent infrastructure with ample power and water plus easy road access. The nearby town of Hidalgo Del Parral (pop. 102,000), just 37 km southwest by road, offers a rail head, supplies and skilled mining labor.
51/49 Joint Venture with Valley High Ventures
By spending C$1.25 million in exploration, Levon completed its option to earn a 51% interest in Cordero Sanson in 2009. Levon is now the project operator, with Valley High Ventures holding a 49% interest.
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| Location: | 220 km south of Chihuahua, Mexico |
| Area: | 20,000 hectares (49,420 acres) |
| Minerals: | Silver, gold, lead, zinc |
| Ownership: | 51% (Project Operator) |
| Status: | Exploration |
Large Bulk Mineable Targets Part of an Emerging Porphyry District
The 20,000-hectare Cordero property encompasses two high-level porphyry districts within the Chihuahua-Zacatecas porphyry belt, an emerging trend that includes Penasquito (Goldcorp), Camino Rojo (Canplats), San Agustin (Silver Standard) and others. Cordero contains a large, 15 km x 3.5 km mineralized system with discovery potential for multiple bulk tonnage, open pit deposits and extensive, open-ended geochemical and IP anomalies. Drilling in 2009 and 2010 has encountered significant and consistent mineralization. Phase 3 drilling, aimed at expanding key mineralized zones and investigating other targets property-wide, is ready to begin in the fall of 2010. The recent $7.5M financing ensures that Phase 3 exploration will proceed as planned.
Please see Levon's 2nd Quarter MD&A for a detailed discussion of Cordero exploration in 2009-2010, along with plans for Phase 3 drilling in fall 2010.
Along A Major Silver, Gold, Lead and Zinc Belt
In Chihuahua and Zacatecas, a number of new discoveries are outlining an area that appears to constitute a major silver, gold, lead and zinc porphyry belt. Cordero covers well-mineralized intrusive centres that have not been fully appreciated or explored within this belt. Small-scale, ongoing underground production on high-grade silver and zinc breccias and vein zones at Cordero contain significant gold values and support the broader exploration potential for major deposits.
Outstanding Values in Phase 1 and Phase 2 Drill Campaigns
An 8-hole, 2,840m HQ core drill program at Cordero in 2009 generated outstanding results, including 152 metres grading 80.6 g/T silver, 0.61 g/T gold, 1.41% zinc and 1.22 % lead, and included 72m grading 150.16 g/T silver, 1.06 g/T gold, 2.48% zinc, 2.27% lead in diatreme breccia. This program tested five targets within the Cordero Porphyry Belt. Details of the 2009 drill program are availabe in Levon's News Releases dated November 3 and November 24, 2009.
Phase 2 drilling, which began in January, 2010, was designed to offset Phase 1 discovery holes and continue outlying exploration. By June 2010, 52 core holes totaling 19,338m had been completed. Phase 2 also included geologic mapping and discovered another untested mineralized diatreme complex, the Dos Mil Diez zone, which lies southwest of the Pozo de Plata zone. Follow up trenching and initial drilling established Ag, Au, Zn and Pb anomalies that warranted drill follow-up.
Phase 2 results were highlighted by a major discovery hole, C10-41, which intersected porphyry-type mineralization over the entire 503.45m hole depth (where the hole was lost in highly broken and mineralized ground). Long assay intervals confirm the bulk tonnage nature of the mineralization. A highlight was 170m grading 17.33 g/T Ag, 0.03 g/T Au, 0.638 % Zn, 0.438 % Pb (62.9 g/T Ag equivalent), which included a higher grade interval of 64m grading 28.4 g/T Ag, 0.033 g/T Au, 1.01 % Zn, 0.816 % Pb (105.3 g/T Ag equivalent).
A third diatreme complex, Molina de Viento, was discovered seven kilometers to the southwest in March 2010. Molina de Viento marked the sixth aligned intrusive center presently known on the property and expanded the strike length to 15 kilometers.
Six main targets now constitute the current exploration focus:
Cordero comprises disseminated and vein-hosted pyrite, sphalerite, galena and argentite mineralization developed in several ENE-oriented structures. The geological setting is similar to the Penasquito Mine.
Sanson consists of a 1,500-metre dome formed by the intrusion of a single quartz monzonite porphyry into the host sediments. Trenching and drilling have encountered quartz molybdenum stockwork mineralization. The system shows a number of similarities with the Penasquito Mine and Camino Rojo and San Agustin projects.
Pozo de Plata (Silver Well) was discovered in late 2009, and it expanded the porphyry district by about 2 km to the southwest along the strike of the mineralized porphyry belt. This new target is defined by mapping and sampling results that establish the presence of a poorly exposed, mineralized rhyolite dike and diatreme complex in an area of alluvial cover. There is no evidence of past exploration work in this area except for the accidental exposure of silver bearing breccias in a recently deepened water well.
Dos Mil Diez, discovered by surface mapping and prospecting at Cordero-Sanson in January 2010, Dos Mil Diez has broadened the mapped extent of the belt another two kilometres southwest of Pozo de Plata into an area of limited bedrock exposure. Ongoing mapping has now delineated a two-kilometre-diameter area defined by circular features comprised of additional hematite stained breccia and islands of domed limestone country rocks. The Dos Mil Diez zone adds significantly to the project's overall potential. Current interpretations of this new zone are that it may represent a surface expression of a larger diatreme complex.
Josephina Mine Diatreme, was discovered by drilling east of the Pozo de Plata diatreme. Several wide intervals of mineralization were encountered that were hosted in Tertiary dacite breccia dikes, vein zones and mineralized diatreme breccia as projected -- including 116 m grading 122 g/T Ag equivalents from 300 to 416 m in hole C10-23. Additional drilling is required to define the limits of the Josephina mineralization and completely test the areas between the zones.
With the addition of the C10-41 drill hole discovery, the prospective mineralized belt has been defined through a strike length of 15 km and a width of about 3 km. Current exploration is focused on five intrusive centers, targeting deposits geologically similar to Penasquito, Pitarrilla and Camino Rojo.
Excellent Infrastructure near Population Centre
The property and region host excellent infrastructure with ample power and water plus easy road access. The nearby town of Hidalgo Del Parral (pop. 102,000), just 37 km southwest by road, offers a rail head, supplies and skilled mining labor.
51/49 Joint Venture with Valley High Ventures
By spending C$1.25 million in exploration, Levon completed its option to earn a 51% interest in Cordero Sanson in 2009. Levon is now the project operator, with Valley High Ventures holding a 49% interest.
