Hole 8, drilled on the B5 target, intersected a zone that assayed 4.6% copper and 17.7 grams silver per tonne over 53 metres. This included a 15-metre section grading 10.6% copper and 38.0 grams silver. The copper is present as chalcopyrite at the base of a 200-metre-thick massive sulphide intersection.
“This extraordinary intersection is a continuation of the development of the Tambo Grande volcanogenic-massive-sulphide district into a major, world-class resource,” says Graham Clow, president of Manhattan. “Since commencing exploration at Tambo Grande in June 1999, we have discovered or enlarged three copper-zinc-gold-silver deposits and one gold-silver deposit.”
In addition to the copper zone, a new gold zone has been discovered on top of the massive sulphide unit. The intersection in hole 8 averaged 6.1 grams gold and 107 grams silver over 5 metres, starting at a down-hole depth of 424.5 metres. Manhattan states that although the gold zone is at a greater depth, it appears to be geologically similar to the 1-million-oz. deposit at its TG-1 deposit, 11 km to the north. The B5 target has at least a partially gold-enriched cap, a thick basal copper-rich zone and a flanking copper-zinc zone. The thickest intersection of massive sulphides and stockwork encountered at the B5 deposit was 320 metres in hole 5.
Earlier this year, drill hole 2 tested the B-5 geophysical gravity anomaly and, in the process, intersected 142 metres of massive sulphides averaging 0.5% copper and 0.9% zinc, plus 0.6 gram gold and 17 grams silver per tonne, starting at a depth of 436 metres. A higher-grade, 23-metre section ran 2% copper, 3.5% zinc, 1 gram gold and 56 grams silver between a depth of 464 and 487 metres.
Exploration drilling is ongoing at the B-5 target, while infill drilling continues at TG-1. The company expects a feasibility study on TG-1 to be completed early in 2001.
Manhattan can earn a 75% stake in Tambo Grande, which consists of 10 concessions comprising 100 sq. km. The company also has a 100% interest in the Lancones concessions (737 sq. km) and an option to earn up to a 100% interest in the Papayo joint-venture lands (32 sq. km). The Lacones land package adjoins Tambo Grande, mainly to the south and partially to the east and north, whereas the Papayo concessions 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 in cash. The B5 target is on the Papayo concession.
Highlights of results from holes 5, 7 and 8 on the B5 target are shown in the accompanying table:
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