An agreement with Peruvian-based Sociedad Minera will result in Atapa Minerals (CDN) acquiring the 900-hectare Mauii concession in the Lurin River Valley.
The property, nestled in the Western Cordillera of the Peruvian Andes, is dominated by volcanic rocks represented by a sequence of dacitic tuffs interbedded with andesites. Mineralization is present in the form of auriferous quartz, limonite, pyrite and, to a lesser extent, arsenopyrite.
Small-scale underground mining has taken place in the centre of the concession, and Atapa has confirmed that gold mineralization exists in parallel veins that can be traced on surface for 1,500 metres. Surface sampling returned values of up to 48 grams gold per tonne.
Atapa will evaluate the property further by means of drilling, and by examining the economic potential of alluvial material.
Water, power, labor and road access are available.
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