Madoro Metals Samples up to 1.2 kg/t Silver and 3.97 wt% Copper in Newly Discovered Polymetallic Skarn at Yautepec Project
VANCOUVER, August 3, 2021 - Madoro Metals Corp. ("Madoro" or the "Company") is pleased to provide an update on further exploration results from the southern portion of its Yautepec project. As described in a prior news release dated July 6, 2021, the Company recently discovered a 7-kilometer trend of previously unrecognized epithermal alteration and mineralization along the southern margin of the Yautepec supervolcano (caldera). Based on this success, Madoro's exploration team moved further west in search of the projected limit of the caldera. The anticipated western structural boundary of the supervolcano was found and a new area of skarn-hornfels alteration and mineralization was identified through field mapping (Figure 1). Preliminary rock chip sampling of mineralized skarn in this area yielded values up to 1.2 kilograms per ton Ag and 3.97 wt% Cu from a 0.10 meter grab sample. Skarn-hornfels alteration and variably present mineralization are found over an estimated area of at least a kilometer in outcrop, subcrop, and float, but the full extent of the complex has yet to be determined and remains open. Figure 1: Yautepec Southern Area Geologic Map
"The discovery of well-mineralized polymetallic skarn along the western Yautepec caldera margin was realized through the disciplined application of Madoro's exploration model which, to date, has yielded remarkable success throughout the Yautepec project," said David Jones, Exploration Manager and Director of Madoro Metals. "These results indicate that we are dealing with a large mineralized epithermal and skarn complex which is integrated by the structurally-controlled magmatic-hydrothermal system of the Yautepec supervolcano. The geology is similar in nature to that seen at currently operating mines of the Oaxaca Ag-Au polymetallic belt. Discovery of these mineralized areas is a testament to the knowledge and dedication of our field team, all of whom have been involved with significant exploration successes throughout Mexico."
The following table summarizes rock chip geochemistry results from the western skarn-hornfels area:
| Yautepec Project: Western Skarn Area Rock Chip Sampling Results (n = 20 -- ALS Labs) | ||||
| Element | Maximum value | Samples with Significant values | Lithology of highest value sample | |
| Precious metals | Ag | 1200 g/t | 6 > 20 g/t; 12 > 1 g/t | Skarn zone of undetermined size/extent |
| Au | n/a | n/a | Samples below detection | |
| Base metals | Cu | 3.97 wt% | 10 > 100 ppm | Skarn zone of undetermined size/extent |
| Pb | 20.0 wt% | 5 > 2.5 wt%; 19 > 100 ppm | Skarn zone of undetermined size/extent | |
| Zn | 4.97 wt% | 4 > 1.0 wt%; 15 > 300 ppm | Skarn zone of undetermined size/extent | |
| Mo | 44.6 ppm | 4 > 10 ppm | Massive oxide replacement of limestone | |
| Pathfinder elements | As | 2.74 wt% | 14 > 0.50%; 26 > 1000 ppm | Skarn zone of undetermined size/extent |
| Ba | 1620 ppm | 9 > 100 ppm | Skarn zone of undetermined size/extent | |
| Hg | 1.37 ppm | 2 > 1 ppm | Skarn zone of undetermined size/extent | |
| Sb | 285 ppm | 5 > 100 ppm | Skarn zone of undetermined size/extent | |
| Se | 147.5 ppm | 7 > 10 ppm | Skarn zone of undetermined size/extent | |
| Te | 47.3 ppm | 9 > 1.8 ppm | Skarn zone of undetermined size/extent | |
| Tl | 4.83 ppm | 4 > 0.50 ppm | Silicified hydrothermal breccia | |
The skarn-hornfels complex lies just outside of the recently mapped southwestern margin of the Yautepec caldera (Figure 2). The area lies 13 kilometers distant from similar polymetallic Ag-base metal mineralization found along the eastern caldera margin at the historically identified Las Minas area (under option by the Company per news release of October 16, 2019). These two mineralized skarn zones appear to be 'mirror images' (i.e., are symmetrical) across the 13-kilometer mapped east-west width of the supervolcano. The fact that similar styles of skarn mineralization occur at such a great distance demonstrates that the integrated Yautepec epithermal-skarn system is very large and has good potential to host a large and potentially economic deposit.
Figure 2: Yautepec Project Geologic Map
The following table is a summary tabulation of all recent rock chip geochemical results along a 15-kilometer trend (from this and July 6, 2021, News Release) from the southern area of the Yautepec project:
| Yautepec Project: Southern Area Rock Chip Sampling Results (n = 173 -- ALS Labs) | ||||
| Element | Maximum value | Samples with Significant values | Lithology of highest value sample | |
| Precious metals | Ag | 1,250 g/t | 3 > 400 g/t; 12>10 g/t | Epithermal vein complex near paleosurface |
| Au | 12.35 g/t | 7 > 0.100 ppm | Epithermal vein complex near paleosurface | |
| Base metals | Cu | 3.97 wt% | 10 > 100 ppm | Skarn zone of undetermined size/extent |
| Pb | 20.0 wt% | 5 > 2.5 wt%; 19 > 100 ppm | Skarn zone of undetermined size/extent | |
| Zn | 4.97 wt% | 4 > 1.0 wt%; 15 > 300 ppm | Skarn zone of undetermined size/extent | |
| Mo | 286 ppm | 25 > 20 ppm | Quartz-veined breccia near paleosurface | |
| Pathfinder elements | As | 2.74 wt% | 14 > 0.50%; 26 > 1000 ppm | Skarn zone of undetermined size/extent |
| Ba | 6180 ppm | 21 > 1000 ppm; 36 > 500 ppm | Laminated carbonate sinter at paleosurface | |
| Hg | 21.6 ppm | 6 > 1 ppm; 16 > 0.5 ppm | Oxidized and argillized volcanic rock | |
| Sb | 285 ppm | 14 > 25 ppm | Skarn zone of undetermined size/extent | |
| Se | 147.5 ppm | 12 > 5 ppm | Skarn zone of undetermined size/extent | |
| Te | 47.3 ppm | 12 > 0.6 ppm | Skarn zone of undetermined size/extent | |
| Tl | 10.6 ppm | 18 > 1.0 ppm | Iron-rich carbonate sinter at paleosurface | |
The technical content of this news release has been reviewed and approved by Robert Johansing, M.Sc., Economic Geologist, and a Qualified Person pursuant to National Instrument 43-101.
Corporate Update
The Company also announces the retirement of Mr. Paul Smith from the Board of Directors after 9 years of dedicated service. Dusan Berka, President & CEO, commented: "On behalf of the board and the management of the company, we'd like to express our sincere appreciation of Paul's contribution and loyal service and wish him best of health and happiness in his retirement."
About Madoro Metals Corp.
Madoro Metals Corp. (MDM | TSX Venture Exchange; MSTXF | OTC) is a Mexico-focused precious metals company actively engaged in exploration and development of three gold-silver projects in the state of Oaxaca, Mexico. The Yautepec, Magdalena, and Rama de Oro projects each consist of large epithermal systems that are highly prospective for precious metals in structural and geologic settings similar to those of nearby producing mines. Systematic exploration has advanced two of the projects towards drilling with the intention of discovering an economic mineral deposit.
On behalf of Madoro Metals Corp.
"Dusan Berka, P. Eng."
President & CEO
For more information, please contact: Investor Relations via email at info@madorometals.com;
www.madorometals.com
#1450 - 789 West Pender Street
Vancouver, BC, Canada V6C 1H2
Tel: +1 (604) 681-1568
Email: info@madorometals.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release may contain forward-looking statements including but not limited to comments regarding timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. Madoro Metals Corp. relies upon litigation protection for forward-looking statements.
SOURCE: Madoro Metals Corp.
