Magna readies Koala for drilling

Consolidated Magna Ventures (CMV-V) is targeting replacement-style massive sulphide mineralization at its Koala project in Mexico’s Chihuahua state.

The junior can earn a 70% interest in the original 990-ha property and holds a 100% interest in an additional 10,220 ha of surrounding ground.

Exploration work on this early-stage project has outlined coincident geochemical and geophysical anomalies.

The Koala property lies within a window of gently folded Cretaceous-age limestones. A fault, running parallel to the axis of the main anticline, trends northwest-southeast across the property and is traceable on surface for a strike length of 3.5 km.

A 500-metre-wide zone of intense dolomitization, silicification and brecciation was mapped along the southwest flank of the fault zone over its entire length. Intermediate porphyry dykes occur within the altered zone, along with scattered elevated levels of lead-zinc-copper-silver mineralization. A total of 664 soil samples were collected from the fairly well-developed B horizon. Individual samples peaked at 1,440 parts per million (ppm) copper, 720 ppm zinc, 720 ppm lead and 26.9 grams silver per tonne.

Induced polarization geophysical surveys revealed a coincident chargeability high, measuring more than 1,000 by 800 metres in size, occurring at a depth of about 200 to 300 metres. Overlying the zone of chargeability is a pronounced resistivity high, which reflects the alteration seen in surface exposures.

The chargeability high is interpreted, by geophysical consultant Quantec, to reflect sulphide mineralization.

Consolidated Magna plans to drill-test the Koala property in the first quarter of 1998.