Current Program: The La Cumbre porphyry continues to be open to the north-northwest and south-southeast with the 2011 drill program in-filling and expanding gold and copper mineralization.
A significant zone near surface of elevated gold mineralization is present in the La Cumbre porphyry (See May 19, 2011 news release - Table 1). In addition a newly discovered higher grade zone of mineralization was encountered at depth comprising 0.96 g/t gold and 0.14% copper over 121.89 metres starting at 310.93 metres (See September 16, 2011 news release - Table 1).
High grade gold epithermal mineralization has also been encountered within La Cumbre porphyry (See October 12, 2011 news release). This high grade gold discovery is significant in that it is proof of a later phase of high grade gold mineralization that has now been discovered over a surface area greater than one square kilometer. The high grade gold mineralization is found near surface in all intersections reported to date. The epithermal gold mineralization encountered in La Cumbre porphyry is the highest gold grade yet encountered at the project grading 43.40 g/t gold over 2 metres 28.00 metres below surface.
Drill results continued to be successful at La Cumbre porphyry including drill hole LC023 which has returned to date at the project the longest mineralized intercept grading greater than 1.0 g/t gold. (See October 31, 2011 news release) This was near surface and continues to contribute to the growth of the surface footprint of elevated gold and copper grade at the Project. Also, the result from LC023 has both extended the eastern boundary of the porphyry and has also enhanced the overall grade of the porphyry in this sector while remaining open at depth.
The mineralized extent of the porphyry body has increased substantially and combined with strong gold and copper mineralization discovered near surface and higher grades of mineralization encountered at depth the overal grades may significantly increase.
This target area currently has no ground geophysical information as the target was identified after the field work portion of the ground geophysical survey. The Company is planning a potential future ground geophysical program over this target area.
A geochemical soils and rock sampling program is ongoing and will continue to contribute significantly to further define additional drill targets within the project area.
| Drill Hole ID | Strip Log | Operations |
|---|---|---|
| QAP-DDH012 | View Strip Log (PDF) | Edit | Delete |
| QAP-DDH021 | View Strip Log (PDF) | Edit | Delete |
| QAP-DDH 028 | View Strip Log (PDF) | Edit | Delete |
| MT 001 | View Strip Log (PDF) | Edit | Delete |
| MT 002 | View Strip Log (PDF) | Edit | Delete |
To date three drill holes have intersected significant new porphyry-related mineralization. We have intervals starting from near surface and is considered highly prospective.
* Lengths represent down hole core lengths.
La Lenguita Target (500m x 500m) area is defined by rock influenced by strong supergene alteration, phaneritic to aphanitic, dark green to black. The rock exhibits strong silicification with irregular patches of chlorite-magnetite mineralization; millimeter scaled quartz veins with sericite halo; magnetite veins and pyite-molybdenite-covellite veins also present. In some areas there is up to 10% fine grained pyrite. Certain locales have traces of chalcopyrite and malachite. The Manzanillo porphyry is dominated by a strong intermediate argillic overprint, which affects significant portions of the early diorite and rhyodacitic tuffs. The remainder of the intrusive is characterized by chlorite-overprint; hydrothermal biotite is subordinate. Historical accounts in the Manzanillo porphyry target report elevated gold mineralization occurrences.
