Cortez Gold Corp.
COMPANY DATA | INTRODUCTION
| PROJECT IN HAND | MANAGEMENT
NEWS UPDATE | CHINESE
| Address: | Suite 750 - 580 Hornby Street Vancouver, B.C. Canada V6C 3B6 |
| Tel No.: | (604) 602-4935 |
| Fax No.: | (604) 602-4936 |
| Toll Free No.: | 1-866-602-4935 |
| Web Site: | www.cortezgoldcorp.com |
| Corporate Email: | readie@cortezgoldcorp.com |
| Contact Person: | Robert Eadie |
| Position: | President & CEO |
| Traded Market: | TSX-V |
| Traded Symbol: | CUT |
| Outstanding Shares: | 14,700,001 |
| Public Float: | 7,350,000 |
| 52 Week High: | $ 0.43 |
| 52 Week Low: | $ 0.15 |
| Present Price: | Click Here |
INTRODUCTION
Cortez Gold Corp. holds an option to purchase a 100% interest in the Petlacala gold-silver project in Guerrero State, Mexico, 50 km south of the city of Arcelia. The Company also
holds an option to purchase a 100% interest in the Real de Guadalupe polymetallic gold-silver-copper-zinc-lead project in Guerrero State, Mexico, 40 km northeast of Zihuatenejo.
PROJECT IN HAND
Petlacala Gold-Silver Project, Guerrero State, Mexico.
The Petlacala property covers approximately 3,200 hectares. It is located 220 kilometers southwest of Mexico City, 70 kilometers west of Gold Corp.'s Los Filos and El Bermejal gold deposit, and approximately 200 km south of the El Oro - Tlalpujahua epithermal vein system, which is judged to be similar to Petlacala.
The Petlacala system consists of five mineralized vein structures hosting gold and silver. These vein structures include El Astro, Veta Madre-Karla and Guadalupe-Las Ninfas and based on their average widths, route extensions and assay grades, in 2005 the Exploration Department of Servicios Industriales Penoles estimated a potential resource (non NI 43-101 compliant) of 5,701,000 tons and over 2 million ounces of gold equivalent, with average grade of 8.6 g/ton Au and 230 g/ton Ag.
Petlacala is located in the Au-Ag belt of the Sierra Madre known for hosting deposits such as El Oro, Tayoltita, Guadalupe and Clavo. Petlacala is classified as a low sulphidation epithermal vein deposit. Eight distinct exploration targets, Astro, Karla-Guadalupe, Madre, Armazon, Elena, California, Filo Gallegos and El Tigre have been identified. All of the veins contain anomalous to economic gold and silver values over thicknesses of 1 and 6 m.
Cortez has completed the 15-hole (2,516.3 m) Phase I diamond drill program on the Petlacala project. The drill program at Petlacala targeted a low-sulphidation vein system comprised of the Astro, Karla-Guadalupe, Armazon, Ninfas, Madre and California veins. The significant drill intersections from Phase I drill program indicate the possibility of bulk tonnage low-grade gold mineralization located close to the surface as well as the possible presence of a high-grade gold-silver vein system at depth.
The first objective of the 2011 Phase II drill program, which includes 2,000 meter of diamond drilling, is to define the horizontal extension of the low-grade mineralization encountered by holes Pet-5 Gu and Pet-6 Gu. Additional objectives include following up on the higher grade drill intersections encountered in holes Pet-5 Gu, Pet-6 Gu, and Pet-7 Ni, and the search for new veins similar to the newly discovered Ninfas West vein. The total cost estimate for the two phases of exploration is estimated at US$1.5 million.
Exploration work on the Petlacala project is being conducted by Reyna Mining on behalf of Cortez Gold.
Real de Guadalupe Polymetallic Gold-Silver-Copper-Zinc-Lead Project, Guerrero State, Mexico
The Real de Guadalupe property is located in Guerrero State, Mexico, 40 km northeast of
Zihuatenejo, and is comprised of mining concessions totaling 600 hectares. Historical production averaged 450 g/t silver, 2 g/t gold and combined 8% lead-zinc. Four main veins have been explored (namely, the Nave - Santa Ana Vein, Ancha Vein, San Pedro Vein and Guadalupe Vein) but many veins have remained unexplored.
The Real de Guadalupe project is a vein system with potential for breccias and stockwork zones. The Real de Guadalupe deposit consists of polymetallic veins and mineralogy includes: gold, argentite, hessite, pyrite, galena, sphalerite, freibergite and chalcopyrite. The morphology, temperature and compositional characteristics of the veins of the district are similar to other polymetallic and precious metal deposits of northern and central Mexico.
Cortez's initial objective will be to prove the potential of the known veins which has been identified as 500,000 ounces (non NI 43-101 compliant) of gold and silver deposit. This could be increased with the unexplored veins and the disseminated zones in the area.
A number of vein targets have been identified. An exploration program consisting of surveying, geological mapping and sampling, developing and cleaning of historical mines and a minimum 1,500 m drill program is being planned.
MANAGEMENT
Directors and Officers
Robert Eadie, President and CEO, Director
In the past 15 years, Mr. Eadie has been actively involved in public resource companies raising over 50 million dollars for various exploration and development projects around the world. Over the years, Mr. Eadie has built an impressive network of contacts in Europe, North America and Asia and has established a reputation as the catalyst behind various successful start-up resource companies. He brings extensive marketing and public relations expertise to the board and makes executive decisions based on long term sustainable growth.
Gary Arca, CFO and Corporate Secretary, Director
Mr. Arca is a Chartered Accountant. Mr. Arca has extensive experience dealing with public companies and, since 2005, has served as a director of many publicly traded resource companies.
David Gunning, Director
Mr. Gunning is a practicing mining engineer with over 25 years experience in mineral exploration, development and operations in North and South America, Europe and Asia.
Allan Fabbro, Director
Mr. Fabbro has over 30 years experience in both the finance and mining industries. Most recently and for the past ten years, Mr. Fabbro was an investment advisor with Canaccord Capital.
Andrew de Verteuil, Director
Mr. de Verteuil is a Certified General Accountant (CGA). Currently, Mr. de Verteuil acts as Controller for Starcore International Mines Ltd., American Consolidated Minerals Corp. and Highland Resources Inc.
NEWS UPDATE
On January 31, 2011, Cortez Gold Corp. provided final drill core assay results from its 2010 Phase I drill program at the Petlacala project, Mexico.
At the Karla-Guadalupe vein, drill holes Pet-5 Gu and Pet-6 Gu intersected two zones of low-grade gold-silver mineralization located close to the surface. Hole Pet-5 Gu intersected a 35.5 m zone of 0.57 g/t gold and 55.5 g/t silver. Hole Pet-6 Gu intersected a 25.77 m zone of 1.16 g/t gold and 3.42 g/t silver. Several other significant drill hole intersections have been encountered including the discovery of a new vein (Ninfas West vein) intercepted by drill hole Pet-7 Ni that assayed 3.46 g/t gold and 16.7 g/t silver over 1.65 m.
The Company is currently analyzing drill hole data and waiting for assay results from surface soil samples collected at the end of 2010. Drill core samples were shipped to Vancouver for analysis.