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Stuve Gold Corp. Enters into Agreement Pertaining to the Santa Gracia Gold-Copper Exploration Property
CALGARY, AB / ACCESSWIRE / January 6, 2021 / Stuve Gold Corp. (" Stuve Gold " or the " Corpo...
About this update from Stuve Gold Corp.
[{"type":"text","content":"Stuve Gold Corp. Enters into Agreement Pertaining to the Santa Gracia Gold-Copper Exploration PropertyCALGARY, AB / ACCESSWIRE / January 6, 2021 / Stuve Gold Corp. (\"Stuve Gold\" or the \"Corporation\") (TSXV:STUV) is pleased to announce that it has entered into a memorandum of understanding (\"MOU\") providing Stuve Gold the ability to earn up to a 90% interest in the Santa Gracia property.Details of the PropertyThe property encompasses 11,500 hectares covering the southern half of the Higuera - Santa Gracia high-grade IOCG mining districts in the Chilean Coastal Lower Cretaceous IOCG and Copper - Gold Porphyry Belt and is home to past producing copper-gold-silver-cobalt mines.The Higuera mining district was one of the highest grade copper and gold producers in Chile for a number of decades during the late 18th to early 19th centuries. During 1903 for example, district production is reported to have averaged grades of 15 g/t gold and 10% copper. Its production came principally from the Veta Casas and the Santa Gertrudis mines, both of which had their own smelters. The veins in these mines varied from 1 to 5m in thickness and were mined to depths of up to 300m over strike lengths of 1.5 - 2 km.The minerology of the ore produced from those mines below the oxide zone consisted of chalcopyrite, pyrite, magnetite, specularite and native gold. In the oxide zone, within approximately 100m of surface, mineralization consisted of pseudomalachite, chrysocolla, chalcocite, covellite, erythrite and black cobalt (asbolane).The Santa Gracia mining district was also a large gold and copper producer during the early 1900s from similar vein types, reported gold and copper grades, alteration and mineralogy. Production came principally from 3 mines - the Santa Gracia/Santa Laura, the La Gitanilla and the La Chepa mines, which appear to be extensions of the Veta Casas, Santa Gertrudis and Veta Tránsito vein systems located in the adjacent Higuera mining district.Each of the historic mines referred to above are located on the Santa Gracia property. The acquisition includes expanded boundaries such that Stuve Gold has been afforded the potential for significant strike extension of the historically mined veins which also remain open at depth.Production grades referred to herein are from historic data which Stuve Gold has not independently verif...