Pediment Exploration is a newly formed Vancouver based exploration company focused on deposits in Sonora State, Mexico. Conducted by famed Vancouver promoter Gary Freeman as President and CEO and assisted by VP of Exploration Mel Herdrick, Pediment is aiming at a number of very low-cost but high-potential copper, gold and silver plays in the 250 kilometer long Mojave-Sonora Megashear belt.
The Mojave-Sonora Megashear is a northwest-southeast running structural deformation in the earth's crust which extends from the Mesquite Mine in eastern California all the way to the La Herradura Mine is northwest Sonora state in Mexico. The area has only been barely explored by modern exploration techniques. Sonora is largely covered with an overburden known as pediment and the company is focused on discovering major deposits in those covered areas.
These deposits were created by the heat from the North American plate grinding against the more dense Pacific tectonic plate. Very hot fluids scavenged copper, gold and silver from deep beneath the earth's crust and released them at or near the surface as temperatures and pressures decreased.
Basically Pediment has lined up a number of low-risk, low-cost targets, which offer the potential for a large discovery. I went down for a visit in October. We flew over much of the area and then spent two days driving around to see some of the targets.
The first project we looked at on the ground was the Caborca Copper project just south of the town of Caborca. Pediment has staked almost 14,000 hectares of ground centered on the Lista Blanca property. This property was actually put into production in the 1950s complete with a 300 ton per day mill. The project failed because the Mexicans were trying to float a copper oxide ore far more suitable for recovery by acid leach. In other words, they had the wrong means of recovery for the ore type. But surface samples showed an excellent 1.3% copper grade with some silver and gold of 1.1 gram per ton.
Pediment's current program consists of surface samples and determining drill targets along a 15-40 meter thickness which can be traced for 1.7 kilometers of strike on surface. They know there is copper and gold there at grades suitable for surface leaching, the only issue is how much. By spending a relatively low amount of money, they stand a good chance of making an economic discovery.
Since I was there, Mel discovered an area of linear breccia in limestone adjacent to the original replacement zone and quartz tourmaline veins with copper mineralization across the valley. Both the linear breccia and the veins are commonly found near copper gold porphyry systems, and Mel believes there may be a major porphyry potential so Pediment expanded their original 600 hectare position to a large 14,000 hectares.
We also visited the Texson Silver project some 40 kilometers southwest of Trincheras. It consists of 3200 hectares of low angle thrust faults containing the silver mineralized rocks. The area has been mined before on a spasmodic basis. Samples of rocks from two of the named veins over a 250 meter length averaged 280 grams of silver and 3.4 grams of gold from Calerita. Samples taken by Pediment from the Olivios vein tested 145 gram silver and .18 gram gold.
A third series of silver veins along the larger Texson Ridge will be Pediment's primary focus for next year. Mine workings on the ridge show 79 grams of silver and .11 grams gold per tonne [note: though 79 g/t would be close to the current average for all of Pediment's sampling in this area, there are several results of over 200 g/t silver from the stockworks zone, and a vein result from nearby but outside it of 1250 g/t silver]. Texson Ridge shows signs of having a large bulk tonnage potential. The stockworks and altered thrust zone are between 200 and 400 meters wide and extend for hundreds of meters along the ridge top. The mineralization is low grade but has high potential for large tonnage.
As a newly formed company, Pediment has no history, nor any baggage. The company is well cashed up and offers a number of good, high-potential targets in gold, copper and silver. With $2 copper, $500 gold and above $8 silver, Pediment offers investors a low-cost high-potential shot at major discoveries. I was quite impressed with Mel Herdrick. If he puts together the right team of exploration geologists and spends the money wisely, I think there is a high potential for a good return. Pediment will expose investors to a number of high potential exploration programs with plenty of results flowing in over the next few months.
Pediment Exploration is an advertiser. They have not paid for this article and it is my opinion and only my opinion. As always, we want to remind investors they are responsible for their own investment decisions. I do own shares in Pediment. I am biased.