Minsud Resources Corp. Announces Update on Recent Diamond Drilling Conducted on the Chita Porphyry Sector of the Chita Valley Project Located in San Juan Province, Argentina
January 27, 2012 at 12:40 am IST
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Minsud Resources Corp. announced an update on recent diamond drilling conducted on the Chita Porphyry sector of the Chita Valley Project located in San Juan Province, Argentina. The Project is a large exploration stage porphyry situation with classic alteration features, widespread porphyry style Cu-Mo-Ag-Au mineralization, and associated gold and silver-bearing polymetallic veins. As part of a drilling campaign, three drill holes, Psu11-01 to 03 inclusive, were completed to further test known Cu-Mo mineralization in the Chita Porphyry area. Unlike a few historical vertical drill holes in the area, the Minsud holes were inclined at -45o to test for possible sub-vertical precious metal bearing veins that were identified in outcrop. The 2011 drilling has shown that such Ag-Au veins are locally present in the wider porphyry Cu-Mo sections and may be incrementally significant to overall mineralization quality. The three holes all encountered broad zones of Cu-Mo mineralization with localized Ag-Au concentrations. The following table shows the general analytical results for the three drill holes including the Cu-Mo-Ag-Au weighted averages and the localized areas with elevated Ag-Au values. Significantly elevated Mo values were noted in the lower part of drill hole PSu11-03 as well. The mineralization is associated with a Miocene monzodiorite porphyry stock dated at 12 Ma intruded into an earlier assemblage comprising Triassic granodiorite and Carboniferous sediments. The porphyry style mineralization consists of disseminations, fracture fillings and stockwork type quartz-chalcopyrite- pyrite-molybdenite mineralization. The country rocks adjacent to the Chita South Porphyry and other porphyry stocks and dykes on the Property commonly contain widespread polymetallic veins that are locally enriched in gold and silver. Both porphyry and country rocks exhibit an array of hydrothermal/epithermal alteration features.
Minsud Resources Corp. is a Canada-based mineral exploration company. The Company is focused on exploring its flagship Chita Valley Cu-Mo- Au-Ag-Pb-Zn Project, in the Province of San Juan, Argentina. The Company also holds a 100% owned portfolio of selected early-stage prospects, including 6,000 ha in Santa Cruz Province, Argentina. The Chita Valley Project is located about 35 kilometers from Bella Vista and Villa Iglesia towns, at the Iglesia department in San Juan province, and consists of three contiguous core properties, namely, Chita, Brechas Vacas and Minas de Pinto mineral concessions, together with five additional adjacent properties. In total, the Company controls an area of about 19,883 hectares (ha). Its La Rosita Project is a gold and silver prospect located in the low sulfidation epithermal metallogenic province of the Deseado Massif, Patagonia, Argentina, within the area of Special Mining Interest in the Santa Cruz Province. The project is at an early exploration stage.
Minsud Resources Corp. Announces Update on Recent Diamond Drilling Conducted on the Chita Porphyry Sector of the Chita Valley Project Located in San Juan Province, Argentina