Drilling by the exploration arm of
The program focused on several targets identified by recent mapping, trenching, geochemical sampling and ground magnetic surveys, and included 1,670 metres of drilling in 17 holes.
Among the better results was: a 29.5-metre interval from hole 12, which returned 1.5% copper and 0.65 gram gold per tonne; a 24.35-metre interval from hole 2 grading 1.36% copper and 0.66 gram gold; and a 26.9-metre interval from hole 5 grading 1.21% copper and 0.48 gram gold.
The partners note that more than half the holes intersected significant mineralization at or near surface. Two types of mineralization were encountered: copper-gold mineralization associated with skarns, developed where Tertiary porphyries intruded Jurassic limestones; and supergene copper enrichment near surface. Most of the mineralization intersected to date occurs within the leached oxidized cap, indicating potential for high-grade primary sulphides at depth.
The porphryitic intrusive occurs over a strike length of about 5 km on the joint-venture ground, and both eastern and western contacts are considered to have potential for copper-gold skarn mineralization. Numerous other surface copper showings are yet to be drill-tested.
The partners are exploring the Pukaqaqa Central and Pukaqaqa properties near the town of Huancavalica, and near one of Rio Tinto’s recent copper discoveries. The major has an option to earn a 55% interest in Pangea’s ground by spending US$4.3 million on exploration over four years. On its own, Pangea holds the nearby 5,300-ha Esperanza property, west of the Pukaqaqa project.
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