Results from a reconnaissance field program suggest that the Julcan I property in north-central Peru has potential for hosting an economic gold depost, Menora Resources (MEN-M) reports.
Situated 112 km east of the port of Trujillo, the property hosts a mineralized quartz stockwork that trends along a hilltop and appears to extend on to the adjoining property held by Pan American Silver. This area of Peru has recently heated up as a result of Gitennes Resources’ new Virgen gold discovery.
Twenty-three of 176 soil and rock samples assayed more than 50 parts per billion (ppb) gold, and eight samples returned in excess of 150 ppb gold, the best value being 691 ppb in a soil sample.
Anomalous silver values were encountered in 176 samples. Of these, 19 assayed more than 1 gram silver per tonne, and seven returned more than 2.5 grams; the highest value was 39.9 grams. Arsenic and antimony were also present in some samples.
Says Vice-President Michael Smith: “Locating a large, highly altered quartz stockwork with coincident gold-silver-arsenic-antimony values is highly encouraging, especially given its hilltop site and orebody-size dimensions on surface.”
Menora also holds properties in Yemen, Guyana, Namibia and Botswana.
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