Location and Claims
The San Antonio project lies in the Guadalupe y Calvo mining region, in the Sierra
Madre gold belt in northern Mexico. Historic production from the region is estimated
at more than 1.2 million ounces of gold and 8 million ounces of silver.
To the northwest along the Sierra Madre trend are several large deposits:
|
Gold (millions of ounces) |
Silver (millions of ounces) |
| Project |
Company |
P&P |
M&I |
I |
P&P |
M&I |
I |
| Dolores |
Minefinders |
- |
0.8 |
- |
- |
30 |
- |
| Pinos Altos |
Agnico Eagle |
- |
1.6 |
0.6 |
- |
41 |
11.6 |
| Ocampo |
Gammon Lake |
2.4 |
2.9 |
2.9 |
110 |
133 |
162 |
| El Sauzal |
Glamis Gold |
1.7 |
1.8 |
- |
1.9 |
2.5 |
- |
| Palmarejo |
Palmarejo Gold |
- |
1.0 |
0.17 |
- |
89 |
18 |
| Monterde |
Kimber |
- |
0.9 |
0.16 |
- |
41 |
5 |
To the south, nearby deposits include La Cienega (producing mine with 1.3 m
ounce gold reserve) and Toyalita (historic production: 9.1 million ounces gold and
654 million ounces silver).
Altair Ventures has the right to earn a 70% interest in the San Antonio project by spending
US$ 1,000,000 over 3 years and paying Great Panther Resources (TSX: GPR) US$ 200,000
and 200,000 shares over 3 years. Great Panther is the operator of the project.
Great Panther acquired the Topia and Guanajuato silver mines in 2005 and set an
ambitious goal to produce over 2.2 million ounces of silver in 2007, making the
gold-copper San Antonio property a low priority. This created the opportunity for
Altair to work out an option agreement with Great Panther for a 70% stake in this
gold-copper target property.
The Claims
The San Antonio Project comprises four claims covering 11,946 hectares in the
state of Chihuahua in northern Mexico.
The claims are titled Santo Niño, La Chiripa, Iran and San Antonio.
