Kingsmen Resources Acquires Ground Magnetic Coverage for Las Coloradas Project
Kingsmen Resources Ltd. has acquired ground magnetic coverage for its Las Coloradas project in Mexico. The data is expected to guide future exploration and identification of drilling targets in an area with historical mining operations.
Kingsmen Resources Ltd. (TSXV: KNG) has acquired comprehensive ground magnetic coverage for its wholly-controlled Las Coloradas project located in Chihuahua, Mexico. The company believes the new data will guide future expansion and the identification of drilling targets within the project, situated approximately 30 kilometers from the city of Parral.
The area has a history of mining operations; U.S.-based ASARCO, a subsidiary of Grupo Mexico, extracted silver, gold, lead, zinc, and copper there between 1944 and 1952. Kingsmen Resources obtained the magnetic survey data from two separate companies that had previously conducted surveys over different parts of the project area. The company processed the data through its Mexican subsidiary, Leona Silver Exploraciones S.A. de C.V.
Processing and interpretation of the extensive data are ongoing. The objective is to integrate the magnetic information with the area's geology, structures, and geochemistry to identify drilling targets. Company President Scott Emerson stated that the detailed geophysical information will provide guidance for expanding mineralization at the Las Coloradas project as field programs continue.
The Las Coloradas project (8.5 km²) is located in the Central Mexican Silver Belt and represents a consolidation of a historic mining district. The area hosts several old mines and nearby ongoing exploration projects, including Discovery Silver Corp.'s Cordero and Kootenay Silver Inc.'s La Cigarra. Kingsmen Resources is focused on exploring and developing metallic mineral deposits in Mexico's prolific mining districts.