Project History
As many as 30 abandoned exploration adits, small underground galleries and surface prospect pits are distributed over the upper slopes of Cerro Magallanes, which are believed to date back to the early decades of the 20th Century.
In the early 1980s the Consejo de Recursos Minerales (CRM) initiated a project at Cerro Magallanes over a 3-year period and carried out a comprehensive exploration program, including:
- 896 km2 of regional mapping
- 635 surface rock chip samples
- 14.3-line kilometres of induced polarization
- 1,412 m of underground mapping
- 4 diamond drill holes totalling 732.3 m
In April of 1994, Cambior Exploracíon entered into an option-to-purchase agreement with the Mines General Directorate (DGM) for the project. Cambior terminated the contract at the end of the first 18-month term, their work is summarized below:
- 9 km2 1:2,500 orthophoto and topo map with 5 m contours
- 6 km2 of geological mapping at 1:2,500
- 12.85 line-kilometres of induced polarization, ground magnetic survey over 2.8 km x 2.4 km
- 666 surface rock chip samples
- 1,200 m of underground mapping, 388 underground rock chip samples
- drilling of 19 diamond drill holes totaling 3,817.6 m
Minerales El Prado S.A. de C.V., the Mexican subsidiary of Chesapeake Gold Corp., was the next company to acquire the project. El Prado conducted rock sampling programs between 2004 and 2009 and collected a total of 738 surface rock chip samples. From 2009 until 2013 essentially no work was done.
In February of 2013, Precipitate Gold Corp. entered into an option agreement with Gunpoint Exploration Ltd., who then controlled the La Cecilia project. Precipitate Gold, collected 43 surface rock chip samples and resampled and analyzed 35 samples from 2 drill holes.
In 2017, Riverside Resources undertook rock-chip sampling to confirm the existence of the more intensely mineralized gold occurrences found on the Cerro Magallanes flow dome. Riverside confirmed work done by previous explorers, leading to additional mapping and a large soil grid completed in 2018, totaling over 1,300 samples.
Through this work Riverside Resources successfully discovered new mineralized areas targets including the: Cerro Magallanes, La Mesa, Casa de Piedra, Medias Rojas, Cruz I and II and Magallanecito another dome complex.
Recent addition of 1,801 ha to the Cecilia Project land package has expanded work possibilities and discovery of new targets to the east.
