El Pilar Project
El Pilar 43-101 Technical Report (SEDAR Filed)
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General
Stingray completed the purchase of 100% of Noranda Exploracion Mexico S.A. de C.V. in April of 2007 and changed the name of this subsidiary to Recursos Stingray de Cobre S.A. de C.V. [“Stingray de Cobre”]
The El Pilar property is 100% owned by Stingray de Cobre and is located in north central Sonora roughly fifteen (15) kilometres south of the international border with the United States (Figure 1). The property is situated in a highly prospective belt of porphyry copper deposits ranging from La Caridad in the south through to central Arizona. This belt hosts numerous copper deposits (Figure 2) ranging from the Cananea Copper Mine (7.1 billion tonnes @ 0.42% copper) in the south through to central Arizona where the Morenci Copper Mine of Phelps Dodge Corp. is located (4.7 billion tonnes @ 0.52% copper). This copper trend accounts for the second largest concentration of porphyry copper deposits in the world where mining for copper has been continuous for over 100 years. El Pilar lies 45 kilometers northwest of the Cananea Copper Mine of Grupo Mexico, the largest porphyry copper deposit in Mexico and one of the largest in the world. The El Pilar property consists of concessions that total 7168 hectares in seventeen concessions located in the middle of this prolific copper trend.
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Exploration & Work History
The property was initially staked in 1992 for a porphyry copper deposit but an exploration drill hole in 1998 encountered significant copper oxide mineralization hosted by Tertiary conglomerate. Copper mineralization on the property comprises numerous small occurrences along structural corridors. The conglomerate hosted, copper oxide resource was drilled in 2000 and 2001 with 11802 metres drilled in 63 holes. An Inferred Mineral Resource of 306 million tonnes of 0.28% Cu was identified in a reasonably well defined channel and alluvial fan. Noranda Mexico commissioned a scoping level economic evaluation that was prepared by AMEC E&C Services Inc. of Phoenix, Arizona in 2005-2006 and the results indicate that the property has the potential to support an economically viable operation. Metallurgical testwork to date is of a preliminary nature and much more metallurgical testing is required in order to provide information needed to predict the metallurgical characteristics of the deposit and simulate a commercial operation. Stingray has completed over 40,000 meters of in-fill drilling required to fully delineate the deposit and refine the size and grade of the resource. At this time, the resource remains open to the south.
2007-2008 Drilling Program Model |
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Mineral Resources
The Measured and Indicated Mineral Resource at the El Pilar property as a result of the 2007-8 in-fill drilling is 198,564,000 tonnes at a grade of 0.346% total copper as updated by Mike Hester, Qualified Person, Independant Mining Consultants, Inc. calculated at a 0.25% total copper cutoff.
It should be noted that the mineral resource as reported is not a mineral reserve and therefore does not have demonstrated economic viability. This updated resource follows the resource calculation presented in the Gary Woods 43-101 Technical Report of April 2007 as filed at SEDAR.
EL PILAR MINERAL RESOURCE ESTIMATE
Download El Pilar Mineral Resource Estimate (PDF)
To review the entire 43-101 Technical Report please click here.
Future Program
With the acquisition of the El Pilar property, Stingray has completed over 40,000 meters of in-fill drilling and is advancing the technical assessment of the project to be outlined in a Feasibility Study scheduled for the end of Q1/2009.
