Results support the developing interpretation that the Chuscal Prospect has been influenced by a near-by causative intrusive(s) such as a porphyry, resulting in gold mineralisation encountered in every rock unit intercepted thus far - diorites, monzonite and breccias. Zones of higher gold grades and associated silver mineralisation appear to be generally associated with the frequency (or density) of overprinting epithermal veining.
In CHDDH001 and CHDDH002 the numerous intercepts grading 0.7g/t gold or higher correlate to increased vein density and were associated with elevated Ag, Te, Sb & W in the case of CHDDH001 (hole CCHDH002 silver and multi-element results are pending), suggesting an association between gold grade and Intermediate Sulphidation (ISS) epithermal veins. These epithermal veins appear to be conditioned by the regional fault structure that the Company has referred to as a horsetail4 structure with the abovementioned high grade intercepts correlating to modelled horsetail splays. Of note are the two higher grade intercepts in CHDDH002 at 248m (2m @ 8.28g/t Au) and 333m (0.5m @ 17.1g/t Au) which are interpreted to be secondary splays off the main Guayacanes horsetail structures associated with what we now call the Guayacanes Corridor.
The apparent increased importance of the horsetail structure in relation to the gold bearing ISS veins, has prompted the Company to reconsider the surface geochemistry, particularly silver/gold ratios. Surface anomalism potentially attributable to vein gold (higher ratio) is differentiated from porphyry associated gold (lower ratio) to assist in drilling targeting. Six separate E-W trending structural corridors, of between 300m and 500m strike, associated with the distribution of f horsetail splays, have emerged.
For the porphyry associated gold, we have learnt that the mineralisation is not restricted to a dioritic porphyry stock but also occurs in dioritic and monzonitic breccias and the monzonite itself. This is evidenced by the 350m long drill core assay result of 0.57g/t 3 in hole 1 within different rock units. Hole 2 has consolidated that conclusion with a 320m long drill core assay of 0.43g/t.
The Company's geologists have begun more detailed interpretation of surface geochemistry and distribution of alteration such as phyllic and potassic alteration (part of porphyry system alteration zonation) logged in hole 2 to test the theory and vector in on a possible porphyry target. The Company will have more to say on the subject once the theory has been validated by further investigation over coming weeks'
The objective of hole CHDDH003, which has just been completed for a total depth of 302m, was to test the two northernmost splays off the 'horsetail' and the Corporacion diorite which has been previously mined by small scale artisanal mines. Assays are expected before the Christmas break.
Mr Stirbinskis further commented that 'the Company's geologists have now determined that two vein sets host the higher grade epithermal gold mineralisation. A dominant 110-degree trending set and a lesser 060-degree trending set. Upon the receipt of all assays for the current drill program (Holes CHDDH001-004) it will be possible to better predict the location of high grade shoots within the structural corridors.'
The drill rig is currently relocating to drill pad four which is roughly equi-distant between holes 1 and 3 to test the Tres Cuevas corridor including the Tres Cuevas breccia another zone of historic artisanal mining activity, and is expected to drill through multiple splays off the horsetail structure. Hole 4 drilling is anticipated to conclude prior to the Christmas break, with assay results expected in mid-January.
Corporate Updates
As announced on
Contact:
Jason Stirbinskis
Email: jstirbinskis@metminco.com.au
FORWARD LOOKING STATEMENTS
This document contains forward looking statements concerning
(C) 2019 Electronic News Publishing, source