Tambo trenching defines targets for drilling

Precious and base metal mineralization at the Tambo property in southern Peru is being trenched in an effort to define drill targets.

The 25,400-hectare parcel of land is one of 11 Peruvian properties held by the Soteco joint venture, consisting of Southwestern Gold (TSE), Teck (TSE) and Cominco (TSE), each of which holds a one-third interest.

Teck is responsible for funding Southwestern’s share of costs related to a feasibility study, as well as arranging Southwestern’s share of financing once a production decision is made.

Exploration on the property, 70 km east of Arequipa, has identified more than 30 mineralized veins and shear zones hosted by andesite-dacite volcanics and diorite intrusives. The largest of the zones is more than 500 metres long and 50 metres wide.

Results from surface channel sampling across the strike of the zones include: 50 metres grading 12% copper, 8.46% lead and 5.09% zinc, as well as 0.33 gram gold and 128 grams silver per tonne; 8 metres grading 0.36% copper, 32.8% lead and 0.39% zinc, as well as 12.9 grams gold and 201 grams silver; and 24 metres grading 3.45% copper and 11% lead, as well as 0.5 gram gold and 470 grams silver.

Meanwhile, Southwestern is acquiring the Inca porphyry gold-copper prospect in Chile, in return for payments of US$250,000 over the first two years and US$3 million at the end of the third year.

The property was drill-tested in the 1980s, returning near-surface intervals including: 198.2 metres grading 1.08 grams gold and 0.5% copper; 67 metres grading 0.78 gram gold and 0.4% copper; 100 metres grading 0.52 gram gold and 0.32% copper; and 82 metres grading 0.9 gram gold and 0.56% copper.

Southwestern will test the mineralization, which remains open in all directions, by means of trenching and drilling.