Established Project Generation
As a junior exploration and development mining company Sunset Cove Mining has chosen to execute an acquisition strategy based on acquiring properties in proven mining districts. We go to geological formations where proven mineral exploration and extraction success continues.
This means that all of our projects are located near the necessary infrastructure of roads, water and electricity. When we acquire a property for further exploration and development it is because we know it has the potential to become a producing property based on what has been found on site and in the inherent logic of regional geology.
Our Flagship Carolay Silver Polymetallic Property near the village of Ushnobal, in la Libertad is an example of this strategy. Low-volume artisanal silver mining had taken place at Carolay during the 1870’s. The previous titleholder had insufficient capital to fund further mineral exploration. After a thorough evaluation process and negotiations Sunset Cove took possession of the property.
Located 550km NNW of Lima the regional geography at Carolay is made up by Precambrian age metamorphic units of the Maranon Metamorphic Complex, famous both for its rich mineralization and its potential for discoveries. It is comagmatic with the Pataz Batholith, located within the gold and silver Pataz mining district. Both geological formations, Maranon and Pataz, stem from the same magma flow.
Carolay is located on the fringes of the Pataz Batholith. The Pataz mining belt is internationally known for its rich gold and silver ore deposits. According to the Geological, Mining and Metallurgical Institute of Peru, 6 million ounces of gold have been produced in the Pataz, Parcoy and Buldibuyo mining districts from 16 mines over the last 100 years.
Nearby and around the Carolay Property there are blocks of claims held by Minera Aurifera Retamas and Consorcio Minero Horizonte. These Peruvian mining companies operate well known precious metals deposits in the general area of the Maraňon Fault, a well known metallotect. Several claim holders are present immediately south and contiguous to the Carolay Property.
Within a 50 km radius the important gold and silver producers Poderosa, Maraňon, Retamas and Horizonte operate producing mines. The same geological features found in these precious metal production zones can be found at Carolay.
As of November, 15, 2011 two more mineralized zones contiguous to Carolay have been identified and acquired, the Humberto and Maranon zones, more than doubling the property to 5784 hectares and economic grades of silver have been found, in the samples taken for the NI 43-101 report on Carolay, 269g/t of silver, 0.82% lead, 0.87% zinc and 0.31% copper.
The mineralization found on the Carolay property and the adjacent Marañon sector fits into the model of polymetallic veins and is similar to that found in the highly prospective Coeur D’Alene Silver District in Idaho, which historically has produced more silver than any other Silver District in the U.S.
Sunset Cove’s ability to find and acquire properties like Carolay stems from the network it has established in Peru through decades of working in-country and through the relationships that its Peruvian staff consisting of a manager, a mining engineer and a mining geologist have made after a combined 48 years working for major Peruvian and multinational companies. This ability provides the company with an advantage that few others can meet.