Summary
Pucara Gold has commenced its Phase 1 drilling campaign at theLourdes Gold Project and expects to release initial drill results byDecember 2020 - CEO,
Steve Zuker , and VP Exploration,Ken Balleweg , have traveled to theLourdes Gold Project to oversee the start of the drill campaign - Phase 1 consists of 5000 meters in 20 reverse circulation holes and will focus on four high priority target areas within the
Lourdes Gold Project - The focus of Phase 1 drilling will test the Jellopata and Paccha Huayco diatremes and the Chucllani and Ayani zones where gold-bearing granular silica has been sampled in outcrop
- Road access to four target areas completed with 12 drill sites constructed
TSX-V: TORO
"We at Pucara have been anticipating drilling Lourdes for the last four years since the initial identification of the Lourdes diatremes by
"We've been anxiously waiting to drill these targets for more than two years," stated
Figure 1. Lourdes project hydrothermal alteration, diatreme breccias, and Phase 1 drill targets.
Figure 2. Three dimensional rendition of the Lourdes Project IP resistivity anomaly in plan view.
Target # 1: Jellopata
The Jellopata target, located in the western portion of the project area, is the largest identified in the Lourdes hydrothermal system and believed to have the highest potential for a large, multi-million-ounce gold deposit. The target consists of a 1.2km long, 300m wide north-south trending, near-surface zone of high IP resistivity that is interpreted to be silicic alteration within a large structurally controlled diatreme. The Jellopata zone trend is parallel to and within the Apumayo mineralized trend, which is interpreted to be the primary controlling structure. Multi-stage granular silica breccias and advanced argillic alteration containing high temperature pyrophyllite clays overly the IP resistivity anomaly. Stratiform cryptocrystalline silica overlies the northern portion of target area. The Jellopata target is at the highest elevation in the Lourdes system (4350m), with a surface alteration assemblage characteristic of high levels of high sulfidation gold deposits. The exposure level is believed to be above the zone of gold deposition, but weak soil gold and arsenic anomalies overly and support the concept of a shallow blind target. The IP resistivity anomaly is funnel-shaped consistent with the morphology of the exposed diatremes and vents, with the inferred feeder portion extending to below 4000m elevation.
A distinct concave-upward zone of anomalous low chargeability is present within the northern 600-800m of the IP resistivity anomaly, interpreted as a zone of strong oxidation extending to at least 200m below the surface. This area is believed to be the most prospective for gold mineralization due to deep oxidation commonly found where the brecciation and resulting porosity and permeability is the highest.
Figure 3. Three dimensional rendition of the Jellopata IP resistivity anomaly and proposed drill holes showing structural and stratiform morphologies, view to east.
Target # 2: Chucllani
The Chucllani target area is a broad area of intense alteration on the northeast side of the Lourdes system consisting of four separate target areas over approximately 800m of strike length. It has similarities to the Apumayo group of gold deposits being mined 14km to the south. The primary drill target consists of a >200m long, >75m wide northeast-trending zone of granular silica alteration with outcropping gold mineralization up to 0.64 g/t Au. A secondary target exists 200m to the northeast along zone trend where gold-bearing (up to 1.7 g/t Au) granular silica outcropping within a prominent ravine. A strong westerly-plunging IP resistivity anomaly that is believed to be the east margin of the Paccha Huayco diatreme is also targeted from this area. The Chucllani target area exhibits moderate to strong anomalous soil gold and pathfinder element response.
Target # 3: Ayani
The Ayani zone is located at the extreme northeastern portion of the Lourdes system and consists of a 700m long and up to 150m wide structural zone of silicified breccias with proximal stratiform silicic alteration, a vent breccia with chalcedonic silica at the upper portions, and gold-bearing granular silica breccia. Gold-bearing granular silica (up to 0.87 g/t Au) is exposed at the edge of colluvial cover in the lower portions of the zone, suggesting that the colluvium may be concealing additional non-resistant mineralized granular silica. Soil gold and arsenic anomalies appear to be sourced in the zone.
Figure 4. Lourdes three dimensional IP resistivity anomaly viewed to the north showing the Jellopata and Paccha Huayco diatremes and lateral stratiform silicic alteration, locally gold-bearing in the outcropping portion of the Ayani and Chucllani Zones
Target # 4: Paccha Huayco
The Paccha Huayco target is in the central part of the Lourdes system and is the second largest in the project area. It occurs at the three-way intersection of the dominant structural trends on the property: the north-south Apumayo trend, the northwest fold axis trend, and the northeast Ayani structural trend. The target area is underlain by a large funnel-shaped IP resistivity anomaly that is interpreted to be a diatreme like the Jellopata target. The anomaly and inferred diatreme are elliptical in plan, 1000m long within the Ayani structural zone and up to 500m wide. The IP resistivity anomaly occurs below pervasive strong advanced argillic alteration with structurally controlled granular and massive silica. Soil gold and weak rock chip gold anomalies occur on the west and southeast flanks of alteration overlying the IP resistivity anomaly. The surface alteration assemblage is high-level, consisting of chalky, possibly steam-heated granular silica and cryptocrystalline silica inferred to be above the level of gold deposition.
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