TSX-V: MSR
Forty (40) drillholes have been completed to date in the Phase IV program, encompassing a total of 28,674 metres. Assay results have been received from drillholes CHDH23-73 through CHDH23-81, which total 6,691.2 metres. Key highlights and associated figures are provided below.
Chinchillones HS Target: High-grade body with mineralization extending below 1,000m depth
Drillhole CHDH23-73 was drilled to test the continuity of the NNE trend containing high sulphidation mineralization and strong advanced argillic alteration in the east Chinchillones area. It was drilled with an orientation of 135°/-85° and reached a depth of 1,141 metres (see Map 1 and Table 1 below). The results of this drillhole are very significant, having intersected a continuous 670-metre interval of dacites and high-grade polymetallic (Cu-Ag-Au-Pb-Mo) hydrothermal breccia bodies.
Drilling intersected porphyritic dacite bodies with disseminated and early veinlet-hosted mineralization, with marked advanced argillic alteration. These dacites are traversed by high-grade hydrothermal-intrusive breccias. This dominant Cu-Au mineralization occurs disseminated in the porphyritic dacite and largely within the breccia matrix. The geometry and extent of this hole have not yet been fully established, but this confirms the high-grade mineralization found at depth in hole CHDH23-62.
Significant mineralized intervals for drillhole CHDH23-73 include:
- Drill Intercepts:
- 670.0m @ 0.30% Cu, 0.13 g/t Au and 4.17 g/t Ag, from 360 to 1,030m (open at depth).
- including 78.0m @ 0.94% Cu, 0.45 g/t Au, 9.48 g/t Ag, from 382.0 to 460.0m.
- Geology:
- This hole was comprised of intercalated phreatomagmatic breccia and fine to medium grained porphyritic dacite. Rocks exhibit moderate sericitic alteration with superimposed silicification and mineralization appearing as 5% sulphides (dominantly pyrite + chalcopyrite) in zoned disseminations and veinlets.
These important mineralized dacites and breccia bodies, together with drillholes CHDH22-47, CHDH21-30, CHDH22-50, and CHDH22-62 confirm an area of mineralization measuring 500m x 400m, elongated in a NNE direction and open at depth in the eastern sector of the Chinchillones area.
Chinchillones HS Target: SSE High-Grade Sector
During the 2022 season, an important shallow zone was identified in the south-southeast sector of the east Chinchillones area, bearing high-grade, polymetallic mineralization up to 200 metres deep, confirmed by CHDH21-40 to CHDH22-43.
Recently, CHDH23-75, CHDH23-76, CHDH23-78, CHDH23-79, and CHDH23-80 were drilled in this area with a total of 2,684 metres drilled. The results of these holes confirm the continuity and geometry of this zone of shallow, high-grade mineralization.
Significant mineralized intervals for drillhole CHDH23-75 and CHDH23-79 include:
CHDH23-75 was drilled with an orientation of 135°/-75° to a depth of 483.2 metres:
- Drill intercepts:
- 296.0m @ 0.36% Cu, 0.10 g/t Au, 6.85 g/t Ag, 0.16% Zn, from 54.0 to 350.0m.
- Including 38.0m @ 1.40% Cu, 0.17 g/t Au, 12.81 g/t Ag, 0.13% Zn, from 258.0 to 296.0m.
- The above subinterval also includes 6.0m @ 6.37% Cu, 0.26 g/t Au, and 59.4 g/t Ag from 258.0 to 264.0m.
- Geology:
- Intercalated, matrix-supported phreatomagmatic breccia and dacite bodies. Breccia is comprised of subangular dacite and quartzite fragments. Medium to strong advanced argillic alteration (kaolinite + pyrophyllite) and 5-7% sulphides. HS (high sulphidation) zone comprises pyrite + enargite + chalcopyrite + tennantite.
CHDH23-79 was drilled with an orientation of 315°/-75° to a depth of 305 metres:
- Drill Intercepts:
- 263.0m @ 0.28% Cu, 0.15 g/t Au, and 8.92 g/t Ag, and 0.16% Zn from 35.0 to 298.0m
- Including 54.0m @ 0.48% Cu, 0.07 g/t Au, and 6.44 g/t Ag from 66.0 to 120.0m
- Including 18.0m @ 1.18% Cu, 0.75 g/t Au, and 24.13 g/t Ag from 242.0 to 260.0m.
- Geology:
- Intercalated phreatomagmatic breccia and dacite. Matrix-supported breccia is comprised of rounded to subrounded quartzite and dacite fragments of variable size in a dacitic rock flour matrix. Moderate advanced argillic alteration (dickite-pyrophyllite) and cavity-fill.
See Map 1 and Table 1 below for details of drillholes CHDH23-73 through CHDH23-81.
Table 1: PHASE IV Diamond Drilling Program – Summary of Results
Hole ID | From | To | Length | Cu | Au | Ag | Mo | Pb | Zn |
(m) | (m) | (m) (*) | ( %) | (g/t) | (g/t) | (ppm) | (ppm) | (ppm) | |
CHDH23-73 | 360.00 | 1030.00 | 670.00 | 0.30 % | 0.13 | 4.17 | 32 | 48 | 418 |
incl | 382.00 | 460.00 | 78.00 | 0.94 % | 0.45 | 9.48 | 29 | 81 | 467 |
CHDH23-74 | 22.00 | 646.00 | 624.00 | 0.09 % | 0.04 | 2.77 | 117 | 62 | 272 |
CHDH23-75 | 54.00 | 350.00 | 296.00 | 0.36 % | 0.10 | 6.85 | 18 | 325 | 1617 |
incl | 258.00 | 296.00 | 38.00 | 1.40 % | 0.17 | 12.81 | 6 | 62 | 1267 |
412.00 | 483.20 | 71.20 | 0.27 % | 0.07 | 1.69 | 5 | 199 | 42 | |
CHDH23-76 | 166.00 | 178.00 | 12.00 | 1.32 % | 0.83 | 52.89 | 8 | 240 | 1763 |
266.00 | 498.00 | 232.00 | 0.21 % | 0.06 | 5.53 | 6 | 92 | 407 | |
CHDH23-77 | 114.00 | 1002.00 | 888.00 | 0.17 % | 0.09 | 8.81 | 222 | 747 | 4987 |
incl | 430.00 | 662.00 | 232.00 | 0.21 % | 0.12 | 17.02 | 50 | 1445 | 11190 |
CHDH23-78 | 26.00 | 52.00 | 26.00 | 0.72 % | 0.03 | 13.50 | 8 | 1255 | 2096 |
incl | 38.00 | 42.00 | 4.00 | 3.42 % | 0.03 | 29.05 | 15 | 1087 | 1039 |
72.00 | 114.00 | 42.00 | 0.23 % | 0.12 | 18.61 | 8 | 1965 | 7738 | |
CHDH23-79 | 35.00 | 298.00 | 263.00 | 0.28 % | 0.15 | 8.92 | 9 | 394 | 1567 |
incl | 66.00 | 120.00 | 54.00 | 0.48 % | 0.07 | 6.44 | 17 | 22 | 189 |
incl | 242.00 | 260.00 | 18.00 | 1.18 % | 0.75 | 24.13 | 1 | 83 | 181 |
CHDH23-80 | 54.00 | 100.00 | 46.00 | 0.55 % | 0.08 | 8.83 | 20 | 185 | 282 |
208.00 | 296.00 | 88.00 | 0.36 % | 0.17 | 12.33 | 7 | 114 | 297 | |
390.00 | 528.00 | 138.00 | 0.27 % | 0.09 | 8.44 | 7 | 89 | 563 | |
860.00 | 872.00 | 12.00 | 0.65 % | 0.33 | 1.89 | 52 | 24 | 508 | |
CHDH23-81 | 94.00 | 376.00 | 282.00 | 0.10 % | 0.10 | 9.69 | 14 | 1018 | 3191 |
440.00 | 976.00 | 536.00 | 0.22 % | 0.10 | 6.30 | 342 | 696 | 1896 |
* intervals reported in the above table are not true thicknesses
General outlook and exploration implications
The current results of the Phase IV exploratory activities, together with previous drilling phases, have confirmed an expanded Chinchillones porphyry-epithermal system, now estimated to cover a minimum area of 2 km x 2 km. The zone is open to more than 1,000m depth.
Quality Assurance/Quality Control
All core samples were submitted to the
Qualified Person (QP) Statement
Case Lewis,
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