Soho Resources
| Date | April 30, 2008 |
|---|---|
| Report date | May 25, 2008 |
| Symbol | SOH |
The Melman Report - Soho Resources
One of the most important considerations for investment in the junior mining field is whether a company has its projects located in mining-friendly jurisdictions. Several countries indeed stand out as relatively safer than others, and one of the most highly regarded nations for mining activity has been the nation of Mexico. Their immense potential geologic resources have been combined with governments that have traditionally been supportive of the mining industry.
One company actively developing their Mexican project is Vancouver-based Soho Resources Corp. Their “Tahuehueto Project”, located in northwestern Durango State, covers over 9,000 hectares and recent exploration indicates the project contains twelve mineralized zones within a structurally controlled epithermal system that has been traced over more than six kilometers.
Soho’s history at Tahuehueto began when it acquired rights to the project in 1997 during a period when the Mexican government was actively attracting foreign investments in mining. The project is found inside the prolific Sierra Madre District which has hosted many of Mexico’s past-producing properties and which is currently experiencing a mining and exploration renaissance.
Recent improvement in metals quotes allowed the company to re-activate their exploration programs in 2004. A portion of their total work involved with underground drilling programs at four of the zones has returned assays showing bonanza-type grades. For example, assays from one 10.80 meter intersection at Hole RC-18 reported 15.43 gpt (grams per tonne) gold, 61.57 gpt silver, 0.39% copper, 1.85% lead and 3.84% zinc.
By April 30, 2008, the company was able to release an NI 43-101 compliant mineral resource estimate at Tahuehueto prepared by Mine Developments Associates of Reno, Nevada. The resource calculations showed Inferred resources totaling 276,000 ounces of gold, 6.429 million ounces of silver, 33.483 million pounds of copper plus significant lead and zinc values as well.
Soho is continuing their development of the project and, as of mid-March, 2008, had four drilling rigs in operation and expects to be reporting a steady stream of assay results in coming months. The company’s goals for 2008 include adding to the resource estimate as well as developing new prospective areas at the project.