An International Exploration Resource Company
Guerrero Exploration Inc. engages in the identification, acquisition, exploration, and development of mineral properties, primarily in Mexico. It owns a 60% right, title, and interest in the Cerro Azul property, which comprise one exploration concession of 200 square kilometers located in the Sierra Madre region in the north-central part of Guerrero state, southwest of Mexico City.
Based in Vancouver Canada, Guerro is focused on the high yielding Mexican copper, gold and silver mining areas known as the Southern Mexican Gold Belt and the Sierra Madre Occidental Belt.
Cerro Azul Property
Guerrero Exploration Inc.’s primary property is known as Cerro Azul and is a 64,247 acre mineral exploration concession.
Guerrero has a strategic partner, Riverside Resources Inc, on the Cerro Azul Concession. Guerrero will earn a 60% interest in a joint venture agreement with Riverside under their agreement. Located 18.6 miles west of Farallon Resources Campo Morado property and approximately 55 miles west of Goldcorp’s Los Filos Mine, Guerrero’s Cerro Azul property is situated in a volcano sedimentary Cretaceus sequence of Guerrero Terrane complex. Since the announcement of the Cerro Azul acquisition in 2008,
Riverside Resources has focused on exploring the large concession and has defined more than seven target areas which include several epithermal gold targets and at least two porphyry copper-type hydrothermal systems.
Outcropping and formerly mined mineralization in the Cerro Azul concession displays chalcopyrite, bornite, pyrite, copper carbonates with sericite-pyrite-quartz-specularite and chlorite alteration.
Chapalota Property
The Chapalota property is located approximately 50 km northeast of the city of Mazatlan in south-central Sinaloa, Mexico, immediately north of Geoinformatics’ Azulitas polymetallic sulphide deposit (5.6 million tonnes of 0.9% Cu-Eq.). The Chapalota property covers an area of 8,073 hectares and is located on the western margin of the Sierra Madre Occidental Belt with good road access, water, power and related infrastructure.
Guerrero and Riverside Resources Inc. signed a definitive option agreement in June for the Chapalota Project. In order to acquire a 60% interest and exercise the initial option, Guerrero must issue Riverside an aggregate 1,250,000 Guerrero shares, make total cash payments of $200,000 to Riverside, and incur an aggregate $4,000,000 in exploration expenditures on the Chapalota Project
within 36 months of the agreement.
Riverside and Guerrero commenced an anticipated 2,000m core drilling program earlier this month with the aim of drill-testing several geochemical and geophysical anomalies that were generated from a multi-stage generative
exploration program. The geochemical anomaly discovered through soil and rock chip sampling defined a broad target area of 5 kilometers by 3 kilometers. Recent exploration work included 31.5 line kilometers of Induced Polarity-Resistivity geophysics, which shows a coincident anomaly that is now being drilled.
The first drill hole has now been completed and crossed the intrusive contact and picked up sulphide, chlorite, and quartz veining. The hole had an upper zone of granodiorite porphyry diking and silicified breccia with disseminated arsenopyrite and quartz veining. The second drill hole at the Leona target is now underway and again finding sulphides with dikes and metamorphic rocks. Trench samples have been sent to the laboratory and results are anticipated to be released soon. Meanwhile drill core from the first drill hole is being logged, split, and sampled. The drill program at Chapalota is scheduled to complete eight to ten holes. Each hole is planned to range from 200 to 250 meters in depth and with many at a 50 degree angle the true depth will be roughly 160 meters and well within open pit target depth.
