Vancouver — Having completed a third phase of drilling at its Tambo Grande project in northern Peru,
The mineralization is described as thicker than that discovered in the TG-1 and TG-3 deposits, 11 km to the north.
The 4-hole program tested the continuity of the Copper Keel zone, where, previously, hole B5-8 returned 52.8 metres grading 4.6% copper plus 0.2 gram gold and 18 grams silver per tonne.
“Results of this program confirm that the B-5 deposit hosts high-grade copper mineralization similar to Manhattan’s other deposits in the district, at a grade that should support an underground operation,” says President Graham Clow. “Manhattan will continue to move forward toward completion of a final feasibility study on TG-1 by mid-2001.”
The Copper Keel zone has been traced and expanded by holes B5-12, 13 and 14. In addition, Manhattan continued to intersect the gold zone that occurs at the top of the massive sulphide body. Hole B5-8 intersected a 5-metre section that averaged 6.1 grams gold and 107 grams silver at the top of the massive sulphide body.
Results from the recent phase of drilling are as follows:
Hole B5-12 was collared 35 metres west of hole B5-8 and intersected 5.9 metres grading 3.1 grams gold and 7 grams silver per tonne, starting at a down-hole depth of 419.5 metres. This was followed by 172.7 metres grading 0.3% copper, 0.4% zinc, 0.1% lead and 0.5 gram gold and 10 grams silver. The intersection included two 3-metre sections that assayed 4.2% copper, 1.8% zinc, 0.1% lead, 1.6 grams gold and 54 grams silver; as well as 2.9% copper, 2.6% zinc, 0.3% lead, 1.5 grams gold and 64 grams silver.
Hole B-13 was collared 35 metres east of hole B5-8 and cut 2 metres grading 4.5 grams gold and 97 grams silver, starting at a down-hole depth of 424.5 metres. This was followed by a 4.9-metre interval that averaged 1.4% copper, 0.1% zinc, 0.3 gram gold and 15 grams silver, starting at 573 metres down-hole. Farther down-hole, a 15.4-metre section assayed 1.2% copper, 2.6% zinc, 0.1% lead, 0.9 gram gold and 40 grams silver.
B-14, a stepout hole, was collared 65 metres southeast of hole B5-8. The hole cut 6 metres grading 1.5 grams gold and 127 grams silver, as well as 0.3% copper, 0.1% zinc and 0.1% lead, starting at 432 metres down-hole. This was followed by 86 metres grading 2.7% copper, 0.3% zinc and 19 grams silver, starting at 589 metres down-hole. This interval contained three zones of higher-grade mineralization: 20 metres of 4.1% copper, 0.3% zinc and 31 grams silver; 7.4 metres of 3.3% copper, 0.1% zinc and 15 grams silver; and 23 metres of 3.9% copper, 0.2% zinc and 18 grams silver.
Hole B5-09 was collared 200 metres south of B5-08 and drilled to a down-hole depth of 647.4 metres. It intersected only weakly mineralized massive sulphides.
Manhattan has spent US$13.9 million exploring Tambo Grande, and continues to work on the prefeasibility study for the TG-1 oxide gold deposit and the TG-1 and TG-3 sulphide deposits.
The TG-1 oxide cap contains an inferred resource of 8 million tonnes grading 5.2 grams gold and 48 grams silver. This is equivalent to 1.3 million oz. gold and 12.4 million oz. silver. Further drilling on the underlying TG-1 sulphides expanded the resource to an inferred 64.2 million tonnes grading 1.7% copper and 1.4% zinc, plus 0.7 gram gold and 31 grams silver, based on a cutoff grade of 1% copper-equivalent.
TG-3 lies 500 metres south of TG-1 and consists of two distinct mounds, or lobes, of mineralization. The northern lobe is richer in zinc and contains 20 million tonnes grading 0.9% copper, 2.7% zinc, 0.8 gram gold and 35 grams silver, based on a cutoff grade of 1% copper-equivalent. The copper-enriched southern lobe hosts 48 million tonnes grading 1.1% copper, 1.1% zinc, 0.9 gram gold and 25 grams silver at a cutoff grade of 1% copper-equivalent.
Manhattan is earning a 75% stake in Tambo Grande, which consists of 10 concessions measuring 100 sq. km. The company also has a 100% interest in the 737-sq.-km Lancones concessions and an option to earn up to a 100% interest in the 32-sq.-km Papayo joint-venture lands. The Lancones land package adjoins Tambo Grande mainly to the south and partially to the east and north. The Papayo concessions, which include the B-5 anomaly, are to the south. Manhattan can earn an initial 51% interest in Papayo by spending $5 million on exploration over five years and paying $250,000.
Be the first to comment on "Manhattan expands B-5 zone"