News

May 02, 2008

Initial Resource Estimate From Soho Resources Should Kick Start Investor Interest in the Company

By Charles Wyatt

Canadian-listed Soho Resources has now come out with its initial resource estimate for its Tahuehueto polymetallic project in the Sierra Madre Mountains of northwestern Mexico. The company has had this project since 1997, but those with long memories will remember that the Bre-X scandal put a downer on junior mining companies at that time and metal prices did not start to recover until 2002. Ralph Shearing, the chief executive, who is a shrewd mining man decided not to push ahead while those conditions pertained, and his company has only been going flat out on the project for the last two years. In fact in 2004 the company even took a close look at an oil project before the decision was taken that mining should be the focus.

Tahuehueto is typical of a classic Mexican epithermal vein system that hosts multiple large scale structures strongly mineralized in gold, silver, lead, zinc and copper. It’s said to be very similar to the La Cienega mine which is operated by Penoles, the leading Mexican mining company.  It also has similarities with the geology of the San Dimas district owned by Luismin Mines, a subsidiary of Goldcorp, where historic production has amounted to more than nine million ounces of gold and 750...