The Canasta Dorada
property is located in the northwest corner of the State of Sonora, Mexico,
near the town of Caborca, in the province extending from southern California
through northern Sonora along the Mojave-Sonora Megashear. Mines in this
well-established trend known as the Sonora Gold Belt, which includes
Mesquite (5,000,000 oz), Picacho (500,000 oz) and Padre-Madre in the Yuma
area of extreme southwestern Arizona and southeast California, and La Cholla
(350,000 oz), La Herradura (3,000,000 oz), and Chanate (+500,000 oz) in the
Caborca region of northwest Sonora, Mexico. The property is approximately 28
kilometres north of Caborca, approximately 285 km north of Hermosillo, and
is approximately 190 km southwest of Tucson, Arizona. The Canasta Dorada
gold property consists of a total of seven concessions, covering 448 square
kilometres.
Exploration and discoveries of gold mineralization throughout northwest
Sonora has increased since 1990. Many of the new deposits currently being
mined exploit low grade, micron size, disseminated mineralization along a
northwest-trending zone characterized by traces of the Mojave-Sonora
megashear, a broad northwest-striking structural zone, and northeast
regional thrusts and associated tear faults in the northwestern portion of
the zone. Deposit types include veins and breccias, discontinuous quartz
veins, carbonate sedimentary-hosted deposits and several structurally
controlled deposits. Mineralization is hosted by a wide range of rock units,
including Proterozoic gneiss, Paleozoic sedimentary rocks, Late Jurassic
granitic rocks and Cretaceous clastic and carbonate units. Recent erosion of
pre-existing terrains and alluvial deposits have resulted in locally
extensive Late Tertiary placer gold deposits near Caborca.
The Canasta Dorada
has now been transferred into the newly formed Highvista Gold Corp. As
previously announced, Norvista Resources Corporation (see HDG PR10-16,
October 7, 2010) exercised its right to earn a 51% interest in this entity
by funding it with $1.75 million. HDG’s 34.8% share consists of approximately
10.7 million shares.
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