El Padre Vein at Charay Project
Drilled, past-producing gold–silver mine in Sinaloa — 20.3 g/t Au across 19 intercepts, 90–94% recoveries, 380 ha of titled ground. Acquisition preferred.
Charay is not a grassroots story. The grades are drilled and check-assayed, the metallurgy is demonstrated at commercial scale, and the mine has produced.”
LOS MOCHIS, SINALOA, MEXICO, July 19, 2026 /EINPresswire.com/ -- Minera Pafex, S.A. de C.V. announced today that it has opened a formal process for the gold mine sale of the Charay Project (Mina El Padre), a drilled, past-producing gold–silver mine in the San Blas Mining District of northern Sinaloa, Mexico. The family-held company owns 100% of the project's three mining concessions and is seeking outright acquisition, with joint-venture structures considered for a qualified operating partner. The technical record is available to qualified parties at mexicomineforsale.mx.— Luis Palafox
The El Padre vein was tested by a 27-hole, 1,576-metre core program along 240 metres of strike. Nineteen holes intersected the structure, returning a weighted average of 20.3 g/t gold and 123.7 g/t silver over 1.29 metres true width, as recompiled in 2010 by an independent Qualified Person, with individual intercepts up to 45.3 g/t gold. Check assays at an ISO 17025 laboratory reproduced gold values at 91% of the original results. No hole was drilled below approximately 50 metres of vertical depth; grades increase with depth, and the vein remains open along strike and down-dip.
The operating record is recent and documented. Under a prior production joint venture, Charay moved from signed agreement to first ore in under four months, in December 2014. The 2015 campaign milled 15,430 tonnes and shipped 393 dry tonnes of concentrate in 14 shipments, containing 3,668 ounces of gold and 24,550 ounces of silver, with concentrate grading approximately 288 g/t gold and 1,967 g/t silver — in a sub-US$1,200-per-ounce gold environment. Bottle-roll cyanidation returns 90–94% gold recovery in 72 hours. The joint venture concluded in 2017 when the operator exited Mexico for portfolio reasons, and the concessions reverted to Minera Pafex unencumbered.
The property comprises three contiguous concessions totaling 380 hectares, held under pre-reform 50-year titles valid to 2041–2054 and recorded in Mexico's Public Registry of Mining. The ground is flat, 45 minutes from Los Mochis, a city of 235,000, with a powerline crossing the property 750 metres from the vein, the FerroMex rail mainline six kilometres away, the deep-water port of Topolobampo within the hour, and water at eight metres' depth.
Exploration upside remains untested: the deepest holes ended in mineralization grading 41.7 and 43.0 g/t gold at the 50-metre line; a parallel vein returned 16.5 g/t gold over 6.8 metres in the only hole that intersected it; and the Charay Breccia, a 500-by-200-metre silicified body with surface samples up to 7.5 g/t gold, has never been systematically explored.
"Charay is not a grassroots mine for sale story," said Luis Palafox of Minera Pafex, S.A. de C.V. "The grades are drilled and check-assayed, the metallurgy is demonstrated at commercial scale, and the mine has produced — most recently under a joint venture that reached first ore in under four months. We are looking for the owner or operating partner to take it back into production."
Qualified principals and mandated advisors may request information through the inquiry form on the project website. Following a standard confidentiality agreement, parties receive the complete documentation package: original 2005 drill logs and assays, the 2007–08 check-assay program, the 2010 Qualified Person recompilation, metallurgical certificates, concession titles and registry extracts, and 2015 mill and shipment records. Site visits are arranged for parties advancing in diligence.
Cautionary note: Scientific and technical information in this release is historical. Drill results are from 2005 core drilling as recompiled in 2010 by an independent Qualified Person. Legal disclaimer: This release is for information purposes only and does not constitute an offer to sell, or the solicitation of an offer to buy, any security. Interested parties should conduct their own technical and legal due diligence.
About Minera Pafex, S.A. de C.V.: Minera Pafex is a family-held Mexican mining company and the 100% owner of the Charay, Charay 2 and San Luis mining concessions comprising the Charay Project (Mina El Padre), municipality of El Fuerte, Sinaloa, Mexico.
Project information: mexicomineforsale.mx
Luis Palafox
Minera Pafex, S.A. de C.V.
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