The project is located immediately adjacent to the Norte Abierto project held by
The results of the soil survey are based on a total of 1,503 of 1,735 soil samples that have been collected on a 70 metre (m) by 70 m grid across the Santa Cecilia hydrothermal system. The results indicate a total of seven porphyry targets, one of which is being drilled in the current program. The soil geochemistry results, in conjunction with structural mapping, have divided the property into seven distinct structural blocks that are interpreted to represent different levels of an idealized porphyry system. Each of the blocks acts independently from the other with different levels of porphyry emplacement observed and with the block bounding structures representing prospective structural corridors for the emplacement of high-grade causative intrusions. The Company's technical team believes each target area has the potential for a major porphyry discovery.
A Message from
Target Areas: The target areas are primarily defined by the presence of gold and molybdenum, both immobile elements that are directly associated with observed porphyry mineralization in historical drilling and mineralized surface exposures. In addition, the presence of bismuth-selenium-tellurium (Bi-Se-Te) anomalies have been used to identify thermal plumes, which are associated with underlying porphyry systems. The presence of copper was also used to define target areas but is considered less reliable as it is highly mobile during the weathering and overprinting that takes place during hydrothermal events, which are associated with both the porphyry and epithermal style mineralization that has been observed across the property.
Gemelos: The undrilled Gemelos target is located 1.5 km southwest of the Caspiche deposit and is characterized by a 600 m by 400 m area with strong gold and molybdenum soil anomalies. Within this anomalous gold and molybdenum area, banded quartz-magnetite veinlets are observed in both dacitic porphyries and overlying volcanics on surface, which indicates that the porphyry target is at shallow depths. In addition, a Bi-Se-Te anomaly is observed offset to the southwest of the gold and molybdenum anomaly that could be associated with the observed porphyries to the northeast, as it may represent a thermal plume associated with a different porphyry body at depth.
Pircas Norte: The undrilled Pircas Norte target is characterized by a 1 km by 600 m gold - molybdenum - copper anomaly where dioritic to quartz dioritic porphyry bodies are poorly exposed on surface. Three historical rock samples taken from these porphyry bodies reported a best result of 1.4g/t gold and 0.5% copper associated with the sheeted quartz-pyrite-chalcopyrite and banded quartz-magnetite veinlets within the porphyry bodies that exhibit chlorite alteration after secondary biotite. The majority of the Pircas Norte block is under colluvium cover and therefore the soil anomalies have been critical in defining the scale of the target. Due to mineralized porphyry being present on surface no higher level Bi-Se-Te anomalies are observed in the Pircas Norte block.
Pircas Sur: The Pircas Sur target area has five shallow (less than 150 m) historical drill holes, drilled by a major mining company between 1988-1990, testing for shallow oxide gold epithermal mineralization. These drill holes did not test the underlying porphyry targets that the Company has identified. Targets within the Pircas Sur block represent a higher level of the porphyry system, with two Bi-Se-Te anomalies overlapping with gold and/or molybdenum anomalies. The western and eastern target areas within the Pircas Sur block measure 700 m by 500 m and 500 m by 400 m, respectively. These anomalies are characterized geologically by extensive silicification, vuggy silica, quartz-alunite ledges and phreatic breccias that collectively represent a higher-level epithermal part of the system on the project. Copper is not anomalous in the Pircas Sur block, which is consistent with a higher level epithermal environment.
Flanco Norte and Vetas Condor: The prominent east - west trending structure that has been mapped across the project area exhibits coincident Bi-Se-Te, copper and gold anomalies over an area of approximately 1 km by 500 m. A drill hole from 2012 tested this area at depth and returned an intercept of 868.8 m of 0.2% copper, 156 ppm molybdenum and 0.09 g/t gold. This intercept is hosted within wall rock and
At Vetas Condor a 500 m by 500 m gold anomaly is associated with east-trending quartz alunite ledges and associated gold - silver epithermal mineralization. A historical exploration tunnel oriented sub-parallel to the quartz alunite ledges totals approximately 1,100 m and has demonstrated consistent mineralization over several hundred metres. The first 32 m of the tunnel returned 2.38 g/t gold and 101 g/t silver and the next 132 m returned 0.66 g/t gold and 13.5 g/t silver. In addition, approximately 436 m into the tunnel, a high-grade vein sampled 58 g/t gold and 27 g/t silver over 2 m. Three short historical drill holes were drilled near the entrance of the tunnel and intercepted 20 m of 6.82 g/t gold and 16.8 g/t silver, including 2 m of 55 g/t gold and 121 g/t silver.
Contact:
Tel: (778) 729-0500
About
Soil Sampling
Approximately 1-3 kg of soil material was collected on a 100 m x 100 m grid and sent to
Forward Looking Information
This release includes certain statements that may be deemed 'forward-looking statements'. Forward-looking information in this release are statements that relate to plans for future exploration programs. These statements involve known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements of the Company to be materially different (either positively or negatively) from any future results, performance or achievements expressed or implied by some of the principal forward-looking statements.
(C) 2023 Electronic News Publishing, source