The
In preparation for exploration activities at
The Company has completed geological mapping, grid-based soil geochemical sampling, channel and select rock chip geochemical sampling and has concluded the first scout-drilling program to be conducted at
Initial scout drilling has served to identify depth potential at the El Arriero breccia-controlled, dyke-dominated, porphyry copper-molybdenum system and to highlight the stark difference between
Mapping and sampling have confirmed that the broader copper-gold porphyry system is represented by variably exposed magnetite matrix breccias, quartz-magnetite veinlets and sheeted veinlets related to porphyry dykes. Rock-chip geochemical results have returned up to 3.6% copper and 86.8 grams per tonne gold and saw cut channel samples have returned best results of 20 meters at 1.2 grams per tonne gold
Regional mapping and rock-chip channel sampling reveals the copper-gold porphyry system zones outwards towards the East to the Yvette polymetallic vein network which is a linked curvilinear brittle shear-controlled zone of some 3 kilometers strike length and 180 meters aggregate width. Rock chip sampling from sub-meter to 1.5-meter-wide veins at Yvette have returned significant results including 115.7 grams per tonne gold, 1,967 ppm silver, 1% copper and 17.4% zinc . Veins are hosted in 10-30-meter-wide individual shear zones
The Company is currently completing further regional mapping and planning airborne geophysics over the
Four diamond drill holes were drilled into the El Arriero target for a total of 1664 meters. Drill holes targeted copper soil-geochemical anomalies and rock-chip channel results and intercepted potassic-altered diorite porphyry dyke bodies and granodiorite emplaced into a discrete poorly-sorted collapse breccia. B-type quartz, pyrite, chalcopyrite veinlets and micro-breccias in diorite dykes returned anomalous copper (up to 0.7 % Cu, average 0.03%) and molybdenum contents (up to 0.19%, average 36ppm) associated with biotite alteration. Granodiorite dyke bodies are interpreted to be a later mostly barren intrusive phase related to a sericite - illite alteration overprint. Drill holes did not intercept economic copper or molybdenum grades over significant widths, with the exception of AR-DDH-001 however, which drilled out of the breccia body and into the wall rock, all drill holes remained in the potassic altered and weakly mineralized dyke and breccia system implying potential for a more assembled porphyry target at depth where the diorite dykes may coalesce. Drill hole AR-DDH-004 ended in 4 meters at 0.01% molybdenum. The Alunita to
Scout drilling, mapping and rock-chip geochemistry (including historic samples) reveals a more broadly distributed copper and high-grade gold porphyry system which includes the Divisoria and Alunita occurrences and essentially surrounds
The Yvette Polymetallic Vein System
Yvette is a polymetallic fault-controlled vein network extending over 3 kilometers in known strike length and up to 180 meters in width. The area is characterised by multiple historic underground gold and silver mines developed on sub-meter to 1.5-meter-wide veins hosted in shear zones of 10 to 30 meters width. Channel rock chip sampling has returned best results of 0.7 meters at 15.0 grams per tonne gold, 48.5ppm silver 0.1% copper and 0.4% zinc and grab rock chip samples have returned up to 115.7 grams per tonne gold, 1,967 ppm silver, 1% copper and 17.4% zinc. To-date continuous saw-cut channel sampling has not been conducted across the broader shear zone structures which host the mineralized veins.
'This new work has identified a porphyry copper-gold-molybdenum mineralized system at
About
Quality Assurance and Quality Control: Core and reconnaissance samples were prepared and analysed at the ISO9001:ISO14001 certified
The following information was derived from previous operator's public announcements.
Rock chip samples were prepared at the
Cautionary statement: This news release contains certain statements that constitute forward-looking information and forward-looking statements within the meaning of applicable securities laws (collectively, 'forward-looking statements') describing the Company's future plans and the expectations of its management that a stated result or condition will occur. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company, or developments in the Company's business or in the mineral resources industry, to differ materially from the anticipated results, performance, achievements or developments expressed or implied by such forward-looking statements. Forward-looking statements include all disclosure regarding possible events, conditions or results of operations that is based on assumptions about, among other things, future economic conditions and courses of action, and assumptions related to government approvals, and anticipated costs and expenditures. The words 'plans', 'prospective', 'expect', 'intend', 'intends to' and similar expressions identify forward looking statements, which may also include, without limitation, any statement relating to future events, conditions or circumstances. Forward-looking statements of the Company contained in this news release, which may prove to be incorrect, include, but are not limited to the Company's exploration plans.
The Company cautions you not to place undue reliance upon any such forward-looking statements, which speak only as of the date they are made. There is no guarantee that the anticipated benefits of the Company's business plans or operations will be achieved. The risks and uncertainties that may affect forward-looking statements include, among others: economic market conditions, anticipated costs and expenditures, government approvals, and other risks detailed from time to time in the Company's filings with Canadian provincial securities regulators or other applicable regulatory authorities. Forward-looking statements included herein are based on the current plans, estimates, projections, beliefs and opinions of the Company management and the Company does not undertake any obligation to update forward-looking statements should assumptions related to these plans, estimates, projections, beliefs and opinions change.
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