Source Exploration is focused on the acquisition and development of advanced stage silver projects in Mexico. The company’s management team and Board of Directors have extensive exploration experience throughout Mexico and the world. Our knowledge of the San Acacio Mine and other opportunities in this prolific region is solidified through our geological team.
Mexico is the world’s second largest silver producer, producing over 75.6 million ounces in 2006 (14% of global production). The country also boasts the world’s largest primary silver mine, the Penoles’ Proano mine in Fresnillo, Zacatecas state. In recent decades, considerable foreign investment has funnelled into the country from some of the world’s largest mining companies, including Newmont Mining Corp. and the mining industry plays a vital role in the country’s economy.
Zacatecas Mining Region
Silver was initially discovered in the Zacatecas mining region by the Spanish in 1546. Explorers soon found extremely rich silver deposits located in three major vein systems (San Benito, Veta Grande and San Bernabe) and this led to the city of Zacatecas being officially founded in 1548. These discoveries started the first great mining rush in North American history and area quickly became a chief mining center in Mexico.
Historically, over 180 million ounces of silver have been extracted from the Zacatecas mining region. The area is currently experiencing renewed exploration interest and activity as a result of the success of the San Roberto mine operated by Capstone Mining Corp. This project is located five kilometres to the southwest of the San Acacio property. The potential for additional resources at San Acacio was confirmed by the work completed by Silver Standard and Sterling Mining Co. from 1995 to 2006.
At Source Exploration Corp., our strategy is to rapidly upgrade and expand the historical, non-compliant resource of 2.47 million ounces of silver (as established by Sterling Mining Co.) at San Acacio to a compliant mineral resource under Canadian National Instrument 43-101.
"Mexico is the world’s second largest silver producer, producing over 75.6 million ounces in 2006 (14% of global production).
"Our strategy is to rapidly upgrade and expand the historical, non-compliant resource of 2.47 million ounces of silver"
Zacatecas in History
Today Zacatecas city, the capital of the state by the same name, is built in a deep narrow ravine 2496 metres abover sea level, with narrow, crooked streets climbing hillsides with white flat roofed houses. Zacatecas is home to a UNESCO world hertiage site and features elaborately decorated buildings, old palaces, residences and mansions line with cobblestone streets, colonial fountains and wrought-iron lanterns. The suburban areas of Zacatecas City are a mix of cinderblock shanties and gated communities for the wealthy.
Founded in 1546 Zacatecas was built over a rich vein of Silver discovered by Basque Nobel Juan de Tolosa. The local people of Zacatecas, known as Zacatecos, showed Tolsa rocks that were rich in Silver. Mines in the vicinity of the city attracted a large population and it soon became a chief mining centre of Mexico.
After the city of Zacatecas was founded in 1548, silver was coined as pieces of eight reales and transported around the world to finance wars of the Spanish empire. During the Mexican War for Independence, Zacatecas remained loyal to Spain and continued to mint coins for the crown until 1822.
The discovery of silver in Zacatecas started the first great mining rush in North American history. Extremely rich silver deposits of San Benito, Veta Grande and San Bernabe were discovered in quick succession giving rise to the city of Zacatecas being officially founded in 1548.