The approval was received from the
Highlights
Permits received for additional drilling at the
Condori breccia grades up to 3.94% Cu and 24ppm Ag in artisanal mining samples.
Los Chapitos is a 220 sq. km project with multiple-permitted areas along the 8 km mineralized Diva Trend, other trends include Atajo and Lagunillas providing district-scale copper exploration potential.
Field work consisting of additional mapping, topographic survey, and core logging has commenced in
Analysis of mineralization at the Adriana copper zone has advanced, combining the 3D lithological, alteration, and mineral zone models, to form the basis of a future resource estimate.
'The new permit at Los Chapitos opens up drilling targets at two new copper oxidized zones: the breccia zone at Condori and a copper manto zone at
Lourdes-Condori Oxide Targets
Geological mapping completed to date at Lourdes-Condori shows a lithological predominance of the volcaniclastic complex of the Chocolate Formation of andesitic tuffs, sedimentary, reddish-brown breccias, which are also dominant in the Adriana zone. Seventy percent of the outcropping rocks correspond to Chocolate Formation volcanics and the rest mainly to microdiorite intrusives. The brecciated outcrops of the Chocolate Formation in the Lourdes-Condori zone follow the NW-SE Diva Trend, outcropping discontinuously in areas ranging from 2 m2 to 1,000 m2. These outcrops show green copper oxides filling the breccia matrix as well as joints and faults visible at surface. The copper oxidized breccia matrix is common in Adriana at depth as seen in the photo 2. The structures are oriented NW and NE dipping mainly to the west from 55-degree to subvertical. The Lourdes-Condori zone extends over 1.5 km and begins to outcrop at
The
The Condori target is structurally controlled like a feeder type breccia filled by malachite, chrysocolla with rock sample grades up to 3.94% Cu and 24ppm Ag that was previously mined by artisanal miners. The mineralization extends over 300 metres covered by crumbled rocks following the Diva Trend NW-SE. The green copper oxide outcrops can be seen in Google Earth.
The dominant surface alterations in the Lourdes-Condori zone are the same as those observed in the Adriana outcrops, described as potassic-silicic with sodic-calcic patches. In the Lourdes-Condori zone, towards the lower topographic parts, traces of fine chalcopyrite were visible in the microdiorite rock.
Exploration Progress
After the completion of drilling at Lidia, Katty, and Natty in 2021,
Mineralization Analysis
In
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Cautionary Note Regarding Forward Looking Statements
Certain disclosures in this release constitute forward-looking information. In making the forward-looking disclosures in this release, the Company has applied certain factors and assumptions that are based on the Company's current beliefs as well as assumptions made by and information currently available to the Company. Forward-looking information in the release includes the prospectivity of future exploration work on the Los Chapitos projects, completion of the necessary drilling permits at Maria Cecilia, that actual results of exploration and engineering activities are consistent with management's expectations, and the potential results of business development activities. Although the Company considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect, and the forward-looking information in this release is subject to numerous risks, uncertainties and other factors that may cause future results to differ materially from those expressed or implied in such forward-looking information. Such risk factors include, among others, that actual results of the Company's exploration activities will be different than those expected by management, that the Company will be unable to obtain or will experience delays in obtaining any required approvals and the state of equity and commodity markets. Readers are cautioned not to place undue reliance on forward-looking statements. The Company does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.
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