Silver Pursuit Resources Ltd. (SPF.V)

silver mining stock

Early Success at Underexplored Properties in Mexico Moving Company Forward Toward Advanced Exploration Program at Two Properties.

Silver Pursuit Resources is focused in Sonora State, Mexico, with a priority on acquiring, exploring, and developing underexplored mineral properties. The company is now active at two properties, La Quintera and La Luz.

Highlights

  • High grade silver recently confirmed by sampling program at La Quintera (March, 2011), a property with historic past production of 100+ million oz. silver. Veta Madre vein traced for over 4 km.
  • All past mining conducted using artisanal hand mining methods and Silver Pursuit intends to subject property to rigorous modern exploration and mining methods.
  • $1,250,000 Private Placement fully subscribed (closed February, 2011).
  • Focus on Sonora State, Mexico.
  • Important local business relationships are in place, along with cost-effective exploration infrastructure to move projects forward aggressively.
  • La Luz Prospect optioned (August, 2010) with potential for Au, Co, Ni, Cu, Fe.

CALL INVESTOR RELATIONS TODAY!

Toll Free 1.877.792.6207


Property Details

La Quintera

silver mining stockLa Quintera is located 8 km west of Alamos, Sonora, Mexico and covers an area of 4672.5 hectares. Within the claim group are several significant past producing silver mines, the largest of which are the Quintera and Promintorio mine areas, situated along what is known as the “Motherlode Fault Zone” and where combined historic production has been reported at 121 million ounces of silver. Additional mines included in the claim block are: La Cocinera, Las Europas, Las Palomas, Mina El Rapel, a portion of the Santo Domingo Mine and La Panchita Mine.

A priority for exploration is the area between these two mines where several small mines exploited high grade silver from shallow workings. Historic records also indicate silver grades ranging up to 2 kilograms per ton (2000 g/t) across significant mining widths locally. The exploration target being pursued by First Pusuit is a high grade silver deposit amenable to mechanized underground mining methods.

Mining in the Alamos Mining District dates to the 1700′s when veins of gold and silver were discovered by Spanish Jesuits and worked almost continuously until the Mexican Revolution (1910-1920) made foreign investment to develop Mexican mines virtually impossible.

Successful Recent Sampling Program at La Quintera

silver mining stockA total of 44 historic mine workings were examined and 181 rock samples (channel samples) were collected from the mines and surface showings. Of these, 28 sites returned values between 100 and 1160 grams per tonne silver, and an additional 34 samples contained values between 30 and 100 grams per tonne silver. The highest value was a 2.5 meter wide quartz vein in the Covacha mine that assayed 1160 grams per tonne silver. The greatest mineralized width occurs below this in the Zapopan mine, where a sheeted and stockwork veined zone 23.0 meters wide assayed 162 grams per tonne silver.

The results confirm high grade silver mineralization within the Veta Madre in the Quintera and Promontorio areas. The Veta Madre (Mother Vein or Motherlode) is a classic low-sulphidation, epithermal quartz vein mineralized with native silver, argentite, tetrahedrite-tennantite and galena. The vein averages 2 meters in width but locally ranges up to 25 meters wide, and has been traced intermittently along strike for 4 kilometers.

silver mining stock

Follow Up Work A Priority For Silver Pursuit

Further work is planned to investigate the mine areas, including diamond drilling and underground exploration. Past mining was conducted using artisanal hand mining methods and modern mechanized mining and milling technology would be ideally suited to develop the high grade silver deposits at La Quintera.

Other Properties

La Tuna

The La Tuna property is located 50 kilometers northeast of Obregon, Sonora Mexico and consists of a group of 9 mineral concessions covering in excess of 16,600 hectares (41,019.5 acres). Access is by dirt road extending 20 kilometers from Sonora State highway 121 that runs from Ciudada de Obregon. The La Tuna prospect was recently discovered by local prospectors working for the owner. It is previously un-documented and un-explored in terms of modern exploration.

La Tuna is situated in a region endowed with several significant porphyry Cu-Au and epithermal Au-Ag deposits. It lies within the major Laramide porphyry copper province that extends throughout Arizona and northern Mexico. It is also located on the margin of the Sierra Madre Gold Belt, an area of significant Tertiary epithermal gold-silver deposits. Mineralization is exposed over an area of 1km square. Two zones of mineralization have been outlined to date within a complex of upper Cretaceous-Lower Tertiary granite and granodiorite. The main zone trends roughly north-south and has been outlined at least 700 meter long by 150 meters wide. This eastern margin of this zone is open because it is concealed by post-mineral volcanic rocks toward the east. The second zone of mineralization is 80-100 meters wide and has been outlined for 600 meters in a westerly direction. Mineralization consists of chalcopyrite and minor oxide copper associated with quartz veinlets and breccia in altered diorite, quartz diorite and/or granodiorite. Anomalous copper, gold and silver values were obtained by the owner from wide-spaced rock chip and grab sampling. Greaterthan 0.5% Cu was obtained in 35 out of 55 samples collected (63%), with values ranging from 0.0 to 6.34% Cu and averaging 1.16 %Cu. Gold geochemical results range from 0.0 to 9.8 g/t Au and averaged 0.7 g/t Au. Silver values ranged from 0.4 to 203 g/t Ag and averaged 22.9 g/t Ag. Spot re-sampling during the site visit reported herein confirm the tenor of Cu-Au-Ag mineralization as indicated by the original sampling.

silver mining stock

La Luz

Optioned in August, 2010, the prospect consists of a number of adits and surface exposures of iron oxide rich skarn covering approximately 1.2 kilometres on a mountain side. Mineralization consists of massive iron oxide and sulphide skarns with locally abundant cobalt bloom (erythrite) and cobaltite. Initial grab samples collected from the old mine area were highly anomalous in gold and cobalt (14.9 and 21 g/t Au; and 18% and 3% Co respectively). Ni was also high in one sample (1910 ppm). A third sample was collected from a lower skarn showing located 1.2 kilometers in the main access drainage which returned 2120 ppm Cu and >50% Fe. A program that includes road construction, detailed mapping and sampling is recommended. Previous drilling has been completed on the property and locating the previous drill hole data is underway.

Investment Considerations

With the recently closed private placement and highly promising initial program at La Quintera, Silver Pursuit is positioned to embark on a follow up program to explore this highly promising property that has produced over 100 million ounces of silver using only rudimentary techniques and has not been subjected to modern exploration and development methods. This property has virtually unlimited blue sky potential.

Mining Investing

Stock Symbols

TSX.VSPF.V

Stock Quote

Mine Locations

Company Information

Management & Board of Directors

TERRY FIELDS – DIRECTOR
PETER WATSON – DIRECTOR
CHRIS WILSON – DIRECTOR
ADRIAN ROBERTSON – DIRECTOR

Investor Relations

Toll Free: 1.877.792.6207
E-mail: ir@silverpursuit.ca

Head Office

Suite 100
1616 West 3rd Ave
Vancouver, BC
V6J 1K2, Canada

Contact Name: Bill Jefferies

Telephone Number: 604-733-7923
Fax Number: 604-689-7816

Business e-mail address: info@SilverPursuit.ca

Date of Formation

Nov 1, 1992

Jurisdiction Where Formed

British Columbia

Industry Classification

Junior Natural Resource – Mining

CUSIP Number

33613B

Financial Year End

Sep 30

Stock Exchange

TSX.V

Auditor

KPMG LLP

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