Ecuadorian Minerals (TSE) can buy several mining concessions in the Peruvian region of Angasmarca, 100 km from the Yanacocha gold district.
The Inti property consists of two blocks of concessions totalling 112 sq. km in a favorable setting for sediment-hosted and intrusive-hosted mineral deposits.
Exploration on the western block (5,900 hectares in nine concessions) has focused on a 3-by-2-km area southeast of the Tamboras district. Sampling along a strongly silicified ridge shows values approaching 0.7 gram gold per tonne, while small veins nearby carry values of up to 14 grams.
Santa Rosa, a 1,500-tonne-per-day gold mine run by a Peruvian company, is 4 km from, and within the same alteration zone as, the western block.
Exploration around the eastern block (5,355 hectares in 10 concessions) involves sampling an area northeast of the Pasto Bueno tungsten district. Anomalous gold values were encountered in 22 samples.
The area surrounding the intrusives of the Angasmarca district displays typical metal zonations that grade outward from a molybdenum zone, through a tungsten zone, to a gold zone.
Angasmarca is well-known for its mineral potential and incorporates the Tamboras district where major companies have previously drilled moly and tungsten targets.
To acquire the western block, Ecuadorian must pay US$4.1 million over 56 months; for the eastern block, it must pay US$1.5 million over 44 months. For both blocks, a 1% net smelter royalty is payable upon commercial production.
The company intends to seek a joint-venture partner to advance the project.
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