Kingsmen Resources begins exploration at Las Coloradas, Mexico
Kingsmen Resources Ltd. [TSXV: KNG; OTCQB: KNGRF] reported it will commence its field reconnaissance program on the Saddle Extension zone. The Saddle and Saddle X areas are part of its 100%-owned Las Coloradas project, in the Parral mining district of the Central Mexican Silver Belt, Chihuahua, Mexico.
The Saddle X covers an area of 1.8 X 1.4 km (1.2 square miles) between the Saddle target and the Soledad structures/historic Las Coloradas mine where the company is planning its initial drill program. The goal of Kingsmen’s exploration in this area is to better define this newly discovered drill target.
Scott Emerson, president, commented: “We are excited to start 2025, putting the logistics together for our initial drill program and the expanded field work on the newly discovered Saddle target. The magnetic signature of this area strongly resembles the La Prieta mine in Parral City. The Saddle target presents an opportunity which could significantly add to our resource potential.”
The Las Coloradas Project (8.5 km2-3.3 sq miles) represents a consolidation of a historic mining district that covers numerous silver-gold-lead-zinc-copper mines previously exploited by ASARCO (American Smelting and Refining Company), the U.S.- based subsidiary of Grupo Mexico.
Las Coloradas is in the Parral mining district of the Central Mexican Silver Belt, located approximately 30 km southeast of the city of Hildago de Parral and 40 km east of the San Francisco de Oro and Santa Barbara mining districts where several old major mines are located: La Prieta, Veta Colorada, Palmilla, Esmeralda, San Francisco del Oro and Santa Barbara. As well, new major mining projects are currently being explored in the district: Cordero (Discovery Silver Corp.), 35 kms north of Parral, and La Cigarra (Kootenay Silver Inc.), 35 kms northwest of Parral.
Kingsmen Resources is focused on advancing its Las Coloradas Project. The project hosts the historic past-producing high-grade silver mine, Las Coloradas. It is considered to be prospective for hosting further precious metal deposits, being on the same structural and stratigraphic belts that host numerous other, on-trend, high-grade deposits.
In addition, the company has a 1% NSR on the Los Ricos North project operated by GoGold Resources Inc. in Mexico.