Rio Caribona Project

The Rio Caribona Project is located in the Cinnamon Zone of the Santa Rosa Canelos area and comprises licenses 582, 583 and 585 covering approximately 5,183 hectares. There are several small scale mines operating in this area, with the Mina Penon and Mina Walter directly adjacent to license 583.

The mineralized structure currently being mined at Mina Penon extends onto Midasco’s 583 license. Some of the quartz veins being mined are indicated below with grades as high as 186 g/t over 1.7 meters. Our geological team recently spent 12 days in the field. Two main distinct structures were identified and transcend the entire area. During the visit 25 samples were taken from vein working covering an area 1500 meters in length and 400 meters in width. The 25 samples were fire assayed by SGS Peru and all contained gold (Au). Of the 25 samples 8 assayed over 1 g/t Au with four samples, samples SMI-S-001, SMI-S-002, SMI-S-009 and SMI-S-010 assayed 69.38 g/t Au, 11.81 g/t Au, 8.63 g/t Au and 6.84 g/t Au respectfully. (refer to our Jan 4th, 2012 news release). A geological crew will be visiting our other licenses early in 2012 and a more extensive exploration program will be designed upon receipt of the final report.  See link and maps below.

Neighboring Licences (582, 583 and 585)

This map indicates the proximity of license 582 & 583 to the Mina Penon and Mina Walter mines as well as other mines in the area.

 

 

 

 

This map shows the mineralized structures of the mines in the area along with grades and widths.