News: Santana Minerals to spice up Melbourne, Sydney Luncheons with Mexican gold and silver

Santana Minerals (ASX:SMI) is focused on exploration for gold and silver in Mexico and is poised to start drilling at its Namiquipa Project late this month.

Mexico is the largest silver producer in the world, producing 169.7 million ounces, or 20.7% of global production. This highlights the prospectivity of its assets.

Namiquipa includes the La Venturosa silver mine that had historic production of 14.37 million ounces of silver, 32,550 tonnes of lead and 43,530 tonnes of zinc.

The company is also currently planning for drilling at the Cuitaboca silver-gold project, which it is earning an 80% interest in.

Proactive Investors has secured managing director Tony McDonald to present the latest at the upcoming " Melbourne Investor Luncheon” on Tuesday 14th October, and the "Sydney Investor Luncheon" on Wednesday 15th October.

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Santana has identified a geologic model for the controls to the Namiquipa mineralisation that places it in the geologic lower volcanic sequence (LVS) of the larger Sierra Madre Occidental Volcanic zone.

Drilling will test zones of high IP chargeability associated with competent host rocks to the Northern extension area and infill untested areas associated with IP chargeable zones.

This will also test a transect across the North-west off-set to associated ground magnetic low and coincident outcrop of quartz veins as well as zones associated with North-West faults which represent potential sites of silver deposition by the mixing of acid sulphate waters with magmatic fluids.

Santana is earning a 80% interest in Cuitaboca, which was the subject of small scale mining in the 1800s that appears to be limited to the high grade oxidised ore.

Very little modern exploration has been undertaken.

An early drill program focusing on the Colateral vein at depth will test the mineralisation in the competent andesite and Jesus Maria vein below old workings to seek to identify ore shoots.

Santana had $1.18 million in cash and deposits at call as of 30 June 2014.

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