Minera Rayrock discovers three new copper oxide zones

Three new shallow copper oxide zones have been discovered by Minera Rayrock (TSE) on the company’s Sierra Valenzuela copper property in Chile.

The Esperanza, Brac and Ancla were discovered with a short-hole prospecting drill program consisting of four holes.

Two holes completed on the Esperanza intersected 56 metres averaging 1.92% copper and 21 metres with 1.52% copper. A hole completed on the Brac zone intersected 11 metres averaging 3.38% copper while the Ancla zone was tested with one hole that intersected 32 metres averaging 1.76% copper. Seven in-fill holes were also completed on the Rosario zone on the Sierra Valenzuela property. The grade, however, was disappointing, averaging only 1-2% copper compared to 2-3% average copper grade from the previous 75 holes. The company plans to spend about US$1.5 million on the Sierra Valenzuela in 1994. Work planned for this year includes additional drilling of the Rosario and Porvenir deposits to allow for the completion of a preliminary mine plan with reserve estimates, follow-up drilling on the three new discoveries and testing of several other anomalous copper targets.

Elsewhere in Chile, Minera Rayrock has started a drill program at the Farellon property and will start another drill program on the Vaquillas property this May.