Galore Resources' Dos Santos project is a gold exploration project located in northern Zacatecas State, Mexico. The property covers a geologically attractive area in the Concepcion del Oro Mining District with the potential to host world-class gold-silver-lead-zinc mineral deposits. Galore has been working in this area since 2007 acquiring a 100% interest in 15,000 hectares (37,065 acres) of mineral claims and recently signed an option agreement to acquire an additional 5,000 hectares (12,355 acres) south and contiguous to the property. Galore's strategy is to find a significant gold-silver deposit that meets a major company's acquisition criteria.
From 2007 until 2010 the company worked primarily on known surface showings and drilled one geophysical target, resulting in intersections of mineralization. Based on this information the Company selected a contractor in 2014 to carry out a helicopter-borne gravity and magnetic survey over areas of favorable geology underlying approximately 10,000 hectares. Galore’s survey results are very encouraging. The survey outlined three primary targets with Peñasquito-like characteristics, and nine other targets, which may represent other mineralization styles. Geophysicist Jules Lajoie, PhD, P.Eng., who has worked with gravity data interpretation in Mexico and elsewhere, interpreted the survey data.
The Peñasquito Mine that is sited above is Mexico's largest gold mine and is located 35 km (22 miles) to the northwest of Galore’s project and operated by Goldcorp Inc. In 2009, Goldcorp purchased Canplats Resources, after they discovered the Camino Rojo goldsilver-lead-zinc deposit, for CD $308.5 million ($254 million US). The Camino Rojo borders Galore to the south. Galore shares the same host rock as the Peñasquito and Camino Rojo, and our project has three known gold occurrences.
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