Vancouver — The last five holes of an 8-hole drill program on the Magistral copper skarn property in north-central Peru have intersected significant copper mineralization for partners
The 2,000-metre program tested several copper-bearing prospects associated with a skarn aureole measuring 500 metres by 1 km.
Magistral is 140 km northwest of the large Antamina polymetallic deposit, currently being developed by
Hole 8 tested the downdip extension of high-grade copper mineralization cut in drill hole 3, which returned 1.09% copper and 0.056% molybdenum, plus 2.41 grams silver per tonne, over 80 metres. This intersection occurred within a 442.2-metre interval grading 0.62% copper, 0.06% moly and 2.29 grams silver. Drilled in the northwesterly direction, hole 8 cut 72 metres averaging 0.67% copper 0.06% moly and 0.93 gram silver at a downhole depth of 12 metres.
Hole 6 was drilled in the southwesterly direction, from the same pad as hole 3, and cut 208 metres grading 0.87% copper, 0.12% moly and 2.8 grams silver. Included in this interval were several higher-grade portions, including:
44 metres grading 0.94% copper, 0.2% moly and 2 grams silver from 28 metres downhole; and
36 metres grading 1.69% copper, 0.05% moly and 8.8 grams silver from 164 metres downhole.
Holes 4 and 5, collared 300 metres to the south, were drilled in a southerly direction. Hole 4 hit 48 metres averaging 0.79% copper, 0.01% moly and 5.49 grams silver from 78 metres down-hole. Testing the downdip extension of the copper mineralization, hole 5 cut 166 metres grading 0.3% copper, 0.06% moly and 1.52 grams silver from surface.
Drill hole 7, collared some 550 metres east of drill hole 3, failed to intersect any significant mineralization.
Inca Pacific says both holes 4 and 5 encountered a post-mineralized fault that has offset the principal skarn bodies. Surface and underground mapping will attempt to resolve the structural complexities of this area prior to additional drilling.
To date, the partners have drilled eight holes over an area measuring 400 by 750 metres, with all but one of the holes returning significant copper values.
Between 1969 and 1973, Peruvian-based Cerro de Pasco carried out drilling that outlined a geological resource of 1.81 million tonnes grading 2.04% copper, 0.03% moly and 13.36 grams silver within the San Ernesto, Arizona and El Indio prospects.
Inca Pacific can earn 100% interest in the property from the government of Peru by paying US$750,000 in cash and spending US$2.1 million on exploration over three years. Anaconda can earn a 51% stake from Inca Pacific by spending US$5.75 million by Dec. 31, 2001.
Based on results from the first eight holes, Anaconda Chile has decided to conduct 6,000 metres of diamond drilling in 2000.
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