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RECENT UPDATES
April 10, 2012 Source announces filing of Technical Report on
the Capricho Property
March 2, 2012
Source Completes $2,990,000 Non-Brokered Private Placement
January 31, 2012
Source Announces Increase in Non Brokered Private Placement to Raise up to $2,990,000
January 30, 2012
Source Announces Non Brokered Private Placement of up to $2,600,00
January 26, 2012
Source Extends Las Minas Mineralization with High- Grade Intercepts
January 10, 2012
Source Signs Option Agreement to Purchase Capricho Property
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Source Exploration Corp is a Canadian based exploration and development company exploring for gold, silver and copper in historical mining districts in Mexico. Strategic properties include the Capricho project in the State of Sinaloa and the Las Minas project located at Las Minas, State of Veracruz. Both of these projects are being explored for bulk- tonnage, gold, silver and copper skarn deposits
Capricho Project
Source’s recently- acquired Capricho project is the site of historical high- grade gold and silver mining that dates to the Spanish Colonial period. Small – scale artisan mining has recently been carried out at the site to mine free gold exposed in the surface outcrops. Highlights of a recently- completed sampling program at the property, which were announced in November, 2011, are listed below. An aggressive mapping, sampling and diamond drilling exploration program is planned for early 2012.
Table 1.0 Sampling results Capricho property*
Location
|
Description |
Width (m)
|
Au g/t
|
Silver g/t
|
Copper %
|
Sample Direction
|
Ramon
|
Mina Fiero
|
22.0 |
3.95
|
1.16
|
0.02
|
Horizontal
|
| Including |
|
2.0 |
13.46
|
2.3 |
0.01 |
|
| |
|
|
|
|
|
|
| Tranquilino |
Near old adit
|
18.0 |
5.56 |
5.46
|
0.01 |
Vertical |
| Including |
|
10.0
|
9.94 |
9.20
|
0.01
|
|
| and |
|
2.0 |
26.13 |
35.8
|
0.01
|
|
| and |
|
2.0 |
18.12 |
1.2 |
0.01 |
|
| |
|
|
|
|
|
|
| Tranquilino |
Near old Adit
|
26.0 |
9.88 |
47.68 |
0.01 |
Horizontal |
| Including |
|
18.0 |
14.21 |
68.44 |
0.02 |
|
| and |
|
2.0 |
99.28 |
569.0 |
0.03
|
|
| |
|
|
|
|
|
|
| Tranquilino |
East shear zone
|
24.0 |
1.95
|
27.68 |
0.03 |
Horizontal |
Including
|
|
2.0 |
8.98 |
63.2 |
0.04 |
|
| |
|
|
|
|
|
|
Tranquilino
|
Shear - skarn
|
4.0
|
3.83 |
0.75 |
0.01 |
Vertical |
| |
|
|
|
|
|
|
Mina Don Chavelo
|
Adit - skarn
|
8.0 |
8.41 |
10.13 |
0.10 |
Horizontal |
* See press release dated January 10, 2012
Las Minas Project
The Company has made several discoveries at the Las Minas project and outlined gold- silver and copper mineralization in a skarn zone with a strike length in excess of 700 metres. Recent drilling results include hole LM- 11-SC-36 that intersected 82 metres grading 1.08 g/t gold, 2.54 g/t silver and 0.40% copper, contained within a wider intersection grading 0.75 g/t gold, 2.62 g/t silver and 0.35 % copper over 244.9 metres – see Press Release, December 12, 2011. A 1970’s report by the Cosejo De Recursos Minerales (CRM), a mining division of the Mexican government, estimated that the central part of the district (controlled by Source) has a potential of 80 million tonnes of mineralized skarn, which, while relevant from an exploration perspective, is not a 43-101 compliant and cannot be relied upon. Source’s team is a highly successful group with extensive expertise in exploration, corporate finance, mine development and operations in Mexico, North America and off shore.
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Corporate Presentation
Source receives mention in Resource World's "What Stocks To Own In 2012" article
Click here for full Article
Source receives mention in David Pescod's Stocktalk Late Edition
Click here for full Article
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