Newstrike Blog » history of mining http://newstrikecapital.com/blog Tue, 10 Aug 2010 23:56:22 +0000 en hourly 1 http://wordpress.org/?v=3.0.1 The History Of Gold Mines In Mexico http://newstrikecapital.com/blog/the-history-of-gold-mines-in-mexico.htm http://newstrikecapital.com/blog/the-history-of-gold-mines-in-mexico.htm#comments Thu, 22 Apr 2010 00:21:11 +0000 Trevor J. Murphy http://newstrikecapital.com/blog/?p=124 Mexico has a fairly long history of mining which dates back almost 500 years. Today, it continues to stand as one of the world’s largest producers of metal and it is known as a major destination for mineral exploration.

A Brief History

The bedrock deposits of the great silver-gold vein system of the Veta Madre at Guanajuato [...]]]>

Mexico has a fairly long history of mining which dates back almost 500 years. Today, it continues to stand as one of the world’s largest producers of metal and it is known as a major destination for mineral exploration.

A Brief History

The bedrock deposits of the great silver-gold vein system of the Veta Madre at Guanajuato were discovered in the year 1550 and unearthed almost immediately. El Oro, one of the leading gold districts but presently without any significant gold deposits, was discovered in 1521, developed to a great extent by 1530, and mined regularly with some interruptions for about 400 years in the following period generating an output in excess of 5 million oz. of gold.

In the late sixteenth century, the mining industry in Mexico began expanding. Mexican President José de la Cruz Porfirio Díaz brought about modernization of the mining sector during his presidential career, which lasted for thirty-four years (except for 1880 to 84). In 1884, mining code was reformed and subsoil ownership was given to landowners.

The miners in Sonoran Mexico adopted a method for pulverizing gold ore that required no water in the primary stages of gold processing. Termed as the arrastre, this system comprised of an upright axle with large spokes that used horses or mules dragging a heavy rock in a circular motion, which would pulverize the ore. After the rock was pulverized, the miners then made use of gold pans for the final processing.

“A New Gold Rush”

Mining is now returning to Mexico in a big way as the prices of metals – particularly precious metals – have increased. Rich mineral deposits and fair mining regulations in Mexico have also been contributing factors to an increased mining community and mines that were shut down in the first part of the twentieth century are being restarted and are turning profits once again.

A new gold rush fuelled by increased foreign investment in gold exploration and development activities brought Mexico’s mining output to a record high in the year 2007.

Speaking at the Prospectors and Developers’ Association of Canada convention, Mexico’s economy minister Eduardo Sojo Garza-Aldape said Mexico’s gold mining is currently experiencing the “best period” in its history.

Investment by foreign companies in Mexico has taken a huge leap to about $700 million in 2007 from a meager $750,000 in the year 2000. Many locals are also reaping the benefits, with 300,000 people employed in the mining industry, as of 2007.

One of the companies in the region is Newstrike Capital. Though they are strictly an exploration company, members of their team have been instrumental in discovering major gold deposits in the Guerrero Gold Belt – a mineral rich area in the southwest of Mexico.

With strategic landholdings in both Guerrero and Oaxaca, Newstrike is poised to find even more gold in an area that has – to date – yielded over three million gold ounces in every discovery and is still proving itself to be a historically mineral rich mining district.

SOURCE:
History of Mining in Mexico

]]> http://newstrikecapital.com/blog/the-history-of-gold-mines-in-mexico.htm/feed 0 A Brief History of Oaxaca’s Golden Past http://newstrikecapital.com/blog/a-brief-history-of-oaxaca%e2%80%99s-golden-past.htm http://newstrikecapital.com/blog/a-brief-history-of-oaxaca%e2%80%99s-golden-past.htm#comments Fri, 16 Oct 2009 23:16:56 +0000 Newstrike System Admin http://newstrikecapital.com/blog/?p=3 There’s an old saying that goes “gold is where you find it.” This may seem overly simplistic, but it makes sense when considering that many companies have had success recently by exploring near and beneath past workings in Mexico. After all, historic mining regions are historic for a reason. Spanish conquistadors mined metal deposits in [...]]]>

There’s an old saying that goes “gold is where you find it.” This may seem overly simplistic, but it makes sense when considering that many companies have had success recently by exploring near and beneath past workings in Mexico. After all, historic mining regions are historic for a reason. Spanish conquistadors mined metal deposits in Mexico for over 300 years, but thanks to modern exploration technologies Mexico still offers tremendous discovery opportunities.

ValleyofOaxaca

Veins of gold and silver have stretched their way across the history of Mexico since Columbus discovered this “New World.” Mexico is home to many historic mining districts, one of which is the Valley of Oaxaca. Located at the convergence of the Sierra Madre Oriental and the Sierra Madre del Sur mountain ranges, the history of Oaxaca traces its roots as far back as seven thousand years, when the land was occupied by as many as 18 diverse ethnic groups. Three of the most dominant groups were the Mixtecs, the Mixe and the Zapotecs. During the Zapoteca era, economic activity flourished with increasing hunting, fishing, mining, and artisan work fashioning silver and gold. Along with its ideal location as the gateway to Central and South America, the abundance of gold in Oaxaca is the reason for Oaxaca’s colonial era gain in prominence.

In the mid 1500’s, Hernán Cortés sent men into the Oaxaca region in search of gold and a waterway to the Pacific Ocean. They never found the waterway, but gold would serve as a driving force throughout Cortés’ life and Oaxaca’s history.  In the late 1800’s, over 50 near surface mines were in production as the area grew into one of Mexico’s most important gold producers.

Newstrike is the largest holder of mineral claims in Oaxaca, the key assets being 74,000 hectares in Taviche, Lachigalla, and Ejutla mining districts. Recent discoveries in Oaxaca have been sizable, Newstrike’s claims are in proximity to Fortuna Silver’s San Jose project, which contains over 124 million ounces of silver and 1.05 million ounces of gold. Newstrike’s Etujla II claim  is also contiguous on its southern boundary with Aura Silver’s Alma Delia property, host to a recently discovered Higo Blanco silver mineralized jasperoid breccia which occurs in one of the many veins of the Taviche system.

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