The objective of the first Program was to drill a number of holes into each of the known vein structures to determine grade, continuity potential and build a prioritized inventory of veins. The Program successfully verified the existence and continuity of mineralized gold and silver veins at the project, where there is no evidence of modern exploration. Results demonstrate several areas having potential to host high grade deposits that will be the focus of follow up drilling.
Results of forty short holes, averaging approximately 100 meters a hole, targeting a range from 50 to 184 meters in depth, confirm that gold and silver mineralization continue at depth. This mineralization is associated with a significant percent of other elements including lead, zinc and copper, which provide an important addition to the precious metals. The best intersections are related to dilation zones, "mineralized shoots", within the veins of the low sulphidation system.
Highlights of assays completed from holes BDH-20-005 to BDH-20-033 are reported below:
BDH-20-009
- 95.4 gpt silver Equivalent ("AgEq"); 63 gpt silver, 0.15 gpt gold and 0.47% lead + zinc ("Pb+Zn") over 18.0 meters includes:
- 1,047 gpt AgEq; 936 gpt silver, 0.29 gpt gold and 3.31% Pb+Zn over 1 meter.
BDH-20-015
- 110.60 gpt AgEq over 7.0 meters with 1.2% Pb+Zn, includes:
- 394 AgEq.; 51 gpt silver, 2.28 gpt gold, 6.18 % Pb+Zn over 1.2 meters.
BDH-20-022, with copper mineralization
- 431.43 gpt AgEq; 307 gpt silver, 0.154 gpt gold, 0.15% Pb+Zn and 1.27% Cu over 0.7 meters
BDH-20-025
- 24.8 gpt AgEq over 11.3 meters with 0.15 %Pb+Zn, includes:
- 242 gpt AgEq, 209 gpt silver, 0.196 gpt gold and 0.67 % Pb+Zn over 0.4 meters.
BDH-20-031
BDH-20-033
- 215.27 gpt AgEq; 101 gpt silver, 0.7 gpt gold, 2.28 % Pb+Zn over 2.7 meters includes
- 1209.59 gpt AgEq; 59 gpt silver, 7.05 gpt gold, 13.55 % Pb+Zn over 0.2 meters.
High grades were also encountered in the first 4 holes released most notably BDH-20-04 which hit 379 gpt AgEq (347 gpt silver, 0.216 gpt gold and 0.56% lead+zinc) over 13.1 meters including 2,897 gpt AgEq (2,830 gpt silver, 0145 gpt gold and 2.1% lead+zinc).
Follow links to plan map and drill sections.
Results from the final seven holes will be released after the assays are received, compiled, and interpreted by the
Detailed Drill Results – Holes BDH-20-005 to BDH-20-029
Hole ID | From | To | Interval | Silver | Gold | Lead+ | Copper | Silver Eq |
BDH-20-005 | 115 | 126 | 11.0 | 6.7 | 0.108 | 0.40 | - | 26.12 |
includes | 117.4 | 122 | 4.6 | 6.2 | 0.134 | 0.40 | - | 27.81 |
BDH-20-006 | 1.5 | 3.05 | 1.55 | 303.0 | 0.063 | 0.14 | - | 311.67 |
and | 27 | 36.96 | 9.96 | 25.0 | 0.061 | 0.19 | - | 34.81 |
and | 66 | 68 | 2.0 | 99.0 | 0.258 | 1.16 | - | 150.44 |
BDH-20-007 | 13 | 27 | 14.0 | 11.5 | 0.051 | 0.15 | - | 19.64 |
includes | 24 | 25 | 1.0 | 57.0 | 0.082 | 0.32 | - | 71.35 |
BDH-20-008 | 56 | 58 | 2.0 | 35.0 | 0.006 | 0.07 | - | 37.24 |
and | 68 | 69 | 1.0 | 56.0 | 0.111 | 0.75 | - | 84.45 |
BDH-20-009 | 33 | 51 | 18.0 | 63.0 | 0.153 | 0.74 | - | 95.41 |
includes | 33 | 34 | 1.0 | 936.0 | 0.294 | 3.31 | - | 1,047.82 |
and | 49 | 50 | 1.0 | 40.0 | 1.01 | 1.39 | - | 157.08 |
BDH-20-010 | No Significant Values | |||||||
BDH-20-011 | No Significant Values | |||||||
BDH-20-012 | 6 | 11 | 5.0 | 11.0 | 0.171 | 0.26 | - | 31.35 |
BDH-20-013 | 14 | 43 | 29.0 | 14.0 | 0.165 | 0.20 | - | 32.37 |
Includes | 31 | 33 | 2.0 | 55.0 | 0.591 | 0.42 | - | 112.64 |
and | 61 | 64.5 | 3.6 | 9.9 | 0.236 | 0.56 | - | 43.09 |
and | 71 | 72 | 1.0 | 10.0 | 0.59 | 0.26 | - | 63.22 |
and | 82 | 84.6 | 2.6 | 50.0 | 0.322 | 1.64 | - | 119.57 |
BDH-20-014 | 57 | 62.5 | 5.5 | 27.0 | 0.267 | 0.67 | - | 66.33 |
Includes | 59 | 59.9 | 0.9 | 42.0 | 0.434 | 2.07 | - | 132.61 |
and | 62.5 | 96 | 33.5 | 4.8 | 0.103 | 0.03 | - | 13.79 |
Includes | 93.8 | 94.2 | 0.4 | 36.0 | 1.06 | 0.01 | - | 120.10 |
BDH-20-015 | 50 | 57 | 7.0 | 40.0 | 0.482 | 1.2 | - | 110.60 |
Includes | 54.9 | 56.1 | 1.2 | 51.0 | 2.28 | 6.18 | - | 394.11 |
BDH-20-016 | 66 | 72 | 6 | 1.5 | 0.116 | 0.576 | - | 26.65 |
BDH-20-017 | 40 | 45 | 5.0 | 12.0 | 0.19 | 1.32 | - | 60.51 |
Includes | 41.15 | 42.1 | 1.0 | 27.0 | 0.413 | 4.67 | - | 176.12 |
BDH-20-018 | 58 | 67 | 9.0 | 4.0 | 0.427 | 0.43 | - | 45.61 |
Includes | 63.8 | 66 | 2.2 | 10.9 | 1.07 | 0.54 | - | 110.09 |
BDH-20-019 | 22 | 40 | 18.0 | 9.6 | 0.203 | 0.20 | - | 31.14 |
Includes | 26 | 32 | 6.0 | 15.0 | 0.27 | 0.33 | - | 45.38 |
BDH-20-020 | 33 | 40 | 7.0 | 3.0 | 0.262 | 0.29 | 0.0025 | 31.94 |
Includes | 35.6 | 36.3 | 0.7 | 21.0 | 0.739 | 1.62 | 0.0120 | 125.32 |
BDH-20-021 | 7 | 12 | 5.0 | 4.4 | 0.126 | 0.04 | 0.085 | 22.78 |
Includes | 7 | 8 | 1.0 | 3.0 | 0.453 | 0.034 | 0.016 | 41.17 |
Includes | 11 | 12 | 1.0 | 22.0 | 0.085 | 0.06 | 0.376 | 62.53 |
BDH-20-022 | 15 | 24 | 9.0 | 28.3 | 0.13 | 0.058 | 0.125 | 50.82 |
Includes | 18.3 | 19 | 0.7 | 307.0 | 0.154 | 0.15 | 1.270 | 431.43 |
BDH-20-023 | 7.9 | 11 | 3.1 | 6.8 | 0.166 | 0.03 | 0.126 | 31.53 |
BDH-20-024 | 22 | 26 | 4.0 | 3.0 | 0.28 | 0.028 | - | 25.93 |
and | 40 | 48 | 8.0 | 1.8 | 0.122 | 0.028 | - | 12.19 |
BDH-20-025 | 4 | 15.25 | 11.3 | 14.7 | 0.076 | 0.151 | - | 24.80 |
Includes | 6.65 | 7 | 0.4 | 209.0 | 0.196 | 0.672 | - | 242.04 |
and | 18 | 20 | 2.0 | 4.0 | 0.134 | 0.05 | - | 15.94 |
and | 61.48 | 61.88 | 0.4 | 27.0 | 0.226 | 0.123 | - | 48.09 |
BDH-20-026 | 12.1 | 15 | 2.90 | 14.0 | 0.22 | 0.028 | 0.071 | 41.80 |
includes | 14.05 | 14.25 | 0.20 | 38.0 | 0.45 | 1.04 | 0.200 | 116.09 |
BDH-20-027 | No Significant Values | |||||||
BDH-20-028 | 11 | 14.4 | 3.40 | 20.0 | 0.20 | 1.32 | - | 70.50 |
BDH-02-030 | - | |||||||
BDH-20-031 | 15.2 | 20.05 | 4.85 | 14.0 | 0.22 | 0.028 | - | 34.39 |
and | 22 | 24.4 | 2.40 | 2.0 | 0.20 | 0.01 | - | 17.71 |
and | 26 | 31.3 | 5.30 | 29.9 | 0.40 | 0.25 | - | 68.52 |
and | 56.8 | 59.3 | 2.50 | 34.0 | 0.88 | 1.80 | - | 151.78 |
includes | 56.8 | 58 | 1.20 | 45.0 | 0.86 | 3.46 | - | 205.25 |
BDH-20-032 | No Significant Values | |||||||
BDH-20-033 | 90.4 | 93.1 | 2.70 | 101.0 | 0.689 | 2.28 | - | 215.27 |
Includes | 92.9 | 93.1 | 0.20 | 59.0 | 7.05 | 13.55 | - | 1,209.59 |
* Silver equivalent based |
Note: Estimated true widths range from 85 to 90% of drilled widths depending on dip of the vein and inclination of the hole. All silver composites rounded to the nearest whole number. |
Drilling Discussion
Drilling tested 7 of 9 known veins along a cumulative strike length of 2,500 meters of an estimated 10,000 meters of vein length. Mineralized vein widths in drill hole varied from less than one meter to 56 meters. The deepest intercept was 123 meters below surface and graded 0.689 gpt gold, 101 gpt silver, and 2.28% lead plus zinc over 2.7 meters including 7.0 gpt gold, 59 gpt silver and 13.55% lead plus zinc over 0.2 meters.
Although there is continuity laterally and to depth, the grade is variable and the structural complexity requires closer holes to delineate the geometry and continuity of high-grade bodies.
Sampling in old mine dumps (Agua Vein) with discarded material, grades of up to 7.2 gpt gold and 303 gpt silver were observed, which shows the presence of mineral areas with better grades. Similar values were intersected in other veins (Pilar vein) with 7.05 gpt gold, 59 gpt silver and 13.55 % lead + zinc.
The presence of lead and zinc sulfides (up to 6.18%) and copper (up to 1.27%) increases the silver equivalent values obtained on the property.
Some of the higher-grade shoots detected with the drill program are related to changes in the direction of the veins that create a dilational open space to host mineralization.
Geologic Description
The project is located in a regional graben NW-SE called the "San Jose Fault" that extends more than 30 kilometers. The veins are hosted in the west border of the graben in the "lower cretaceous aged" volcanic sequence of andesites against a Jurassic-lower cretaceous unit of volcanic-sediment with shales-hornsfel beds.
The quartz-chalcedony veins with crustiform-colloform texture, calcite veins, weak alteration of the host rock, barite and areas of bladed calcite indicate the upper part of the epithermal system. The occurrence of multiples veins and breccias with cross cutting relationships show the evolution of a hydrothermal system, with a long history of multiple events. The mineralization is hosted mainly in the formal tabular shape veins and leaking to areas of stock works in weak permeable rocks.
About
Qualified Persons
The
Sampling and QA/QC
All technical information for the Copalito exploration program is obtained and reported under a formal quality assurance and quality control ("QA/QC") program. Samples are taken from core cut in half with a diamond saw under the direction of qualified geologists and engineers. Samples are then labeled, placed in plastic bags, sealed and with interval and sample numbers recorded. Samples are delivered by the Company to ALS Minerals ("ALS") in
Neither the
About
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS:
The information in this news release has been prepared as at
Forward-looking statements are necessarily based upon a number of factors and assumptions that, while considered reasonable by
Cautionary Note to US Investors: This news release may contain information about adjacent properties on which we have no right to explore or mine. We advise U.S. investors that the
This press release uses the terms "Measured", "Indicated", and "Inferred" resources.
2020 number 20
SOURCE
© Canada Newswire, source