Overview
The Cimarron Project, also 100% owned, adds a compelling gold-copper porphyry system to Silver Viper’s portfolio. Situated in a prolific mineral belt that extends from Arizona to Jalisco, Cimarron hosts two distinct mineralized zones: an alkaline porphyry system and a high-sulfidation epithermal system. This acquisition supports the Company’s strategy to build scale through the addition of high-quality, district-scale exploration opportunities in well-established mining jurisdictions.
The Cimarron Project: Unlocking the Potential for the Next Multi-Million Ounce Gold Discovery in Mexico
The Cimarron Project is a highly prospective gold asset located in the heart of Mexico’s prolific Porphyry Copper-Gold Belt, in the mining-friendly state of Sinaloa. With robust infrastructure, historical drilling, and multiple gold-bearing zones, Cimarron presents an exciting opportunity to develop what could be the next economic Moz-scale gold deposit in the region.
Project highlights
Strategic Location
Situated just 44 km from Mazatlán, a major city with an international airport and deep-sea port, Cimarron offers year-round access and logistical advantages.
Proven Mining District:
Located in the Rosario region, one of Sinaloa’s most established gold-silver producing districts.
Flagship Target – Calerita Zone:
Hosts a gold porphyry deposit with a NI 43-101 Inferred Mineral Resource of 3.7 million tonnes grading 0.65 g/t Au, totaling approximately 77,000 ounces of gold (Snowden, 2012).
Extensive Exploration Database:
Over 13,246 metres of drilling completed across 106 drill holes (diamond and reverse circulation).
Favorable Infrastructure:
The project is located near a paved road, power lines, and within proximity to the mining town of Rosario, enabling efficient exploration and development.
Multiple High-Grade Gold Zones:
In addition to Calerita, Cimarron includes several other gold-bearing targets, including high-sulfidation epithermal systems and lithocap-style mineralization.
Regional Analogues:
Geological characteristics are comparable to world-class gold porphyry systems such as the Maricunga District in Chile, known for multi-million ounce deposits.
Gallery
Exploration
The Cimarron Gold Project, located in Sinaloa, Mexico, sits within a well-established Porphyry Copper-Gold Belt and has already benefited from significant historical exploration. Early drilling and geological investigations have revealed a robust porphyry gold-copper system with multiple high-grade zones and untapped exploration upside. Our current exploration strategy builds on this solid foundation to unlock the project’s full value.
Historical Exploration Work
Exploration on the Cimarron property has been ongoing for over a decade, focused primarily on the Calerita Zone—a porphyry gold-copper system.
Highlights of Previous Work:
- Drilling Campaigns (Pre-2013):
- 106 drill holes completed (82 RC and 24 diamond core)
- 13,246 meters of total drilling
- Defined an inferred mineral resource of 3.7 million tonnes @ 0.65 g/t Au for ~77,000 oz Au (Snowden, 2012)
- Confirmed porphyry-style mineralization and associated alteration patterns
- Geochemical and Geophysical Surveys:
- Surface sampling identified high-sulfidation epithermal mineralization at multiple zones
- Spectral analysis (Terraspec) confirmed widespread advanced argillic and potassic alteration
- Magnetic surveys outlined porphyry-style halos and lithocap signatures
- 3D Geological Modeling:
- Integrated drone-based DEM surveying and historical drill data
- Developed a 3D grade shell model identifying distinct higher-grade gold trends within Calerita
- Target Areas Identified:
- Calerita (porphyry system)
- Los Evanos, Monumentos, Huanacaxtle, Veteranos, Lobo (epithermal gold systems)
These efforts laid the groundwork for expanding the known resource and exploring the broader property potential.
Current Exploration Strategy
With a well-understood geological framework and a clear roadmap, our exploration efforts are focused on four strategic pillars:
- Resource Expansion at Calerita
- Step-out and infill drilling to extend and upgrade the existing resource
- Integration of unmodeled data from the 2013 campaign to refine mineralized zones
- High-Grade Epithermal Gold Targets
- Testing satellite zones with historical assays up to 128 g/t Au and 314 g/t Ag
- Targeting vuggy silica textures, specularite breccias, and residual quartz zones typical of high-sulfidation systems
- Target Generation Through Geophysics
- Using magnetics, spectral scanning, and geochemistry to define new porphyry and epithermal targets
- Strong contrasts in mag signature suggest multiple untested mineralized centers
- District-Scale Reconnaissance
- Evaluating underexplored zones across the property with similar geological and alteration features
- Mapping, sampling, and geophysical surveys to delineate next-generation drill targets
Exploration Tools
- Drone based digital elevation modeling (DEM)
- Terraspec spectral analysis and LiBS scanning for alteration mapping
- High-resolution magnetic surveys
- Ongoing surface geochemical sampling and trenching
- 3D geological modeling to prioritize drill targets
Geological Context
- The Cimarron property shares key geological traits with major porphyry and epithermal gold deposits, including:
- El Gallo Mine (Sinaloa, Mexico) – ~893,000 oz Au
- Cadia Mine (Australia) – multi-Moz alkaline porphyry gold deposit
- Caspiche & Refugio (Chile) – world-class Maricunga Belt deposits
These analogues support Cimarron’s potential to host a +Moz gold resource.
What’s Next
Geology
The Cimarron Gold Project is situated within the prolific Porphyry Copper-Gold Belt of Sinaloa, Mexico, a region renowned for its high mineral endowment and established mining infrastructure. The property hosts the Calerita Zone, a porphyry gold-copper deposit with defined inferred resources and extensive geological potential.
Mineral Resource Highlights
- Calerita Zone:
- 3.7 million tonnes @ 0.65 g/t Au (Inferred)
- ~77,000 ounces of gold (Snowden, 2012)
- Drilling Completed:
- 13,246 meters across 106 holes (82 RC and 24 DDH)
Geological Setting
The Cimarron project is underlain by Laramide arc intrusive rocks, juxtaposed with Graben clastic sediments. This setting supports the development of multiple deposit styles across the property.
Key Mineralization Types Identified:
- Porphyry gold-copper mineralization (Calerita Zone)
- High-sulfidation epithermal systems (Lobo, Los Evanos, Monumentos, Huanacaxtle, Veteranos)
- Specularite-rich breccia veins
- Advanced argillic (lithocap) alteration systems
The Calerita Zone exhibits hallmark porphyry system features, including:
- Quartz-chalcopyrite-pyrite stockwork veinlets
- Disseminated mineralization in monzodiorite to quartz-monzonite intrusions
- Tourmaline and aplite breccias
- Potassic, sodic, and alkaline alteration
- Advanced argillic zones with residual vuggy quartz textures
Comparative Geology
Cimarron shares significant geological similarities with world-class porphyry deposits such as:
- El Gallo Mine, Sinaloa, Mexico
- Caspiche Deposit, Maricunga Belt, Chile
- Cadia Mine, New South Wales, Australia
These analogues further validate the project’s potential to host a +Moz gold deposit.
Geophysics & Alteration
Magnetic surveys over the property show strong contrasts that correlate with:
- Potassic and propylitic alteration halos
- Magnetite-rich metasomatic zones
- High-sulfidation epithermal zones
Spectral and geochemical analyses confirm alkaline alteration (Ca-Sr-F-Si-Fe), indicative of high-temperature, gold-bearing fluid systems.
Drilling Highlights
The Cimarron Gold Project has seen significant historical drilling activity, providing a solid foundation for resource delineation and future exploration upside. The drilling confirms the presence of a porphyry gold-copper system with zones of high-grade gold mineralization and extensive alteration halos.
Drilling Summary
- Total Meters Drilled: 13,246 meters
- Total Holes: 106 drill holes
- 82 Reverse Circulation (RC) holes totaling 9,384 meters
- 24 Diamond Drill (DDH) holes totaling 3,883 meters
Resource Definition
- Calerita Zone:
- Inferred Resource of 3.7 million tonnes @ 0.65 g/t Au
- Containing ~77,000 ounces of gold
- Defined by wide-spaced drilling and remains open in all directions
Key Mineralized Zones
- Calerita: Porphyry gold-copper mineralization with quartz-chalcopyrite-pyrite stockwork and disseminated chalcopyrite in altered intrusive rocks.
- Los Evanos & Monumentos: High-grade veins with gold values up to 128 g/t Au and 314 g/t Ag.
- Lobo Zone: Features residual quartz textures associated with high-sulfidation epithermal systems.
Drill Highlights
- CM08-01 @ 31.1m:
- 1.95 g/t Au
- Disseminated chalcopyrite with potassic-quartz alteration in quartz-monzonite
- CM13-016 @ 60.9m:
- 1.78 g/t Au
- Porphyry-style stockwork veinlets with visible chalcopyrite
- CIM25-JP009:
- 1.33 g/t Au
- Altered porphyry with chalcopyrite-bearing veinlets
Additional Observations
- High-sulfidation epithermal features and lithocap alteration at surface
- Tourmaline and volcanic breccias associated with gold mineralization
- Geophysical data aligns with drill intercepts, supporting ongoing target generation
Future Exploration
Unmodeled drilling data from the 2013 campaign suggests considerable upside potential. Expansion drilling is planned to:
- Extend mineralization along strike and at depth
- Confirm high-grade epithermal zones
- Update resource estimates in compliance with NI 43-101 standards
