A massive sulphide camp is emerging at
A drill hole into the B-5 geophysical gravity anomaly, 11 km south of the TG-1 and TG-3 deposits, intersected 142 metres of massive sulphides averaging 0.5% copper and 0.9% zinc, plus 0.6 gram gold and 17 grams silver per tonne, starting at a depth of 436 metres. A higher-grade, 23-metre section ran 2% copper, 3.5% zinc, 1 gram gold and 56 grams silver between 464 and 487 metres of depth.
The discovery hole was the second hole drilled on B5. The first hole was lost at a depth of 170 metres before reaching bedrock. Manhattan has stepped out with a third hole, 150 metres to the northeast.
The B-5 anomaly occupies the Papayo and Lancones concessions, which form part of the overall Tambo Grande project.
Manhattan President Graham Clow says the signature of the B-5 anomaly is comparable in size to that of TG-3, which hosts an inferred resource of 110 million tonnes grading 0.7% copper, 1% zinc, 0.7 gram gold and 19 grams silver. Manhattan is refining B-5 with ground geophysics, and initial results show the anomaly to be larger and stronger than previously thought.
“It looks pretty good,” says Clow.
The fact that Manhattan has encountered a thick sequence of sulphides with good grades some 11 km south of TG-1 and TG-3 is indicative of the size of the system.
The B-5 discovery hole is on the Papayo concessions, in which Manhattan can earn an initial 51% interest from Cedimin, a Peruvian company, by spending $5 million on exploration over five years and paying $250,000. The Papayo joint-venture lands total 32 sq. km.
Manhattan holds a 100% interest in the Lancones concessions, which comprise 737 sq. km. The TG-1 and TG-3 deposits are on the Tambo Grande concessions, which make up a further 100 sq. km. Manhattan can earn a 75% stake in the Tambo Grande concessions, with the remainder held by state-owned Minero Peru.
Manhattan has enjoyed considerable success at Tambo Grande. In the eight months since it began exploration drilling at the project, the company has discovered an oxide gold cap overlying the previously known, but only partially defined, TG-1 sulphide deposit, in addition to discovering the TG-3 sulphide deposit.
The oxide cap contains an inferred resource of 8 million tonnes grading 5.2 grams gold and 48 grams silver, equivalent to 1.3 million oz. gold and 12.4 million oz. silver. Further drilling on the underlying TG-1 sulphides expanded the resource to an inferred 64.2 million tonnes grading 1.7% copper and 1.4% zinc, plus 0.7 gram gold and 31 grams silver, based a cutoff grade of 1% copper-equivalent.
TG-3 lies about 500 metres south of TG-1 and consists of two distinct mounds, or lobes, of mineralization. The northern lobe is richer in zinc and contains 20 million tonnes grading 0.9% copper, 2.7% zinc, 0.8 gram gold and 35 grams silver, based on a cutoff grade of 1% copper-equivalent. The copper-enriched southern lobe hosts 48 million tonnes grading 1.1% copper, 1.1% zinc, 0.9 gram gold and 25 grams silver at a cutoff of 1% copper-equivalent.
The second stage of drilling at Tambo Grande will continue until April and total 40,000 metres. One rig is to drill B-5, while five others are working at TG-1; of those five, two are targeting extensions of the oxide gold mineralization. In addition, three rigs are carrying out infill drilling. More drilling is planned for TG-3 and for some of the 15 other geophysical anomalies on the concessions. B-5 is the first of these anomalies to be tested during the current round of drilling.
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