Vicuna target shows promise for Tenke

A trenching program designed to test encouraging gold-in-soil geochemistry anomalies has resulted in the discovery of low-grade gold mineralization on the Vicuna gold property in Argentina. The discovery was made by Vancouver-based Tenke Mining (TNK-T).

The highly prospective ground straddles the Chilean-Argentine border and lies north of Barrick Gold’s Pascua gold deposit and Homestake’s Veladero gold deposit. The Lukas Lundin-led company previously outlined four geochemical anomalies covering a 12-km strike length of high-sulphidation alteration originally worked by Cyprus-Amax Minerals.

At the Vicuna target, a total of 96 soil samples collected over a 1.6-sq.-km area returned an average grade of 0.6 gram gold per tonne. The gold anomaly is centred on a silicified zone where 24 soil samples averaged 1.11 grams gold, including a single sample that returned 7.1 grams gold. Tenke subsequently initiated a trenching program over the anomaly. Highlights from the program include the following:

– West Vicuna trench — 1.24 grams gold over 24 metres.

– South Vicuna trench — 3.04 grams gold over 6 metres.

– Central Vicuna trench — 0.93 gram gold over 10 metres.

The second anomalous zone overlies a breccia complex that comprises leached opaline-vuggy silica. The area, known as Filo del Sol, is geologically similar to the Veladero deposit, 75 km to the south. Tenke collected 39 soil samples that returned an average of 0.16 gram gold. Geological mapping by the company has outlined a diatreme body measuring 500 metres by 1 km. According to Tenke, the body is controlled by two regional, northeast-striking structures.

Farther to the north, two additional geochemical anomalies have been identified. An 800-by-500-metre soil anomaly has been outlined in the Maranceles area, and an anomaly measuring 800 by 150 metres marks the North zone. Soil samples from Maranceles returned up to 2 grams gold, whereas the North zone yielded up to 0.16 gram gold in soils.

A ground magnetic and induced-polarization geophysical program has begun, and Tenke expects drill targets to be ready by October.

The property is in a relatively unexplored region, between the Maricunga gold belt to the north and the El Indio belt to the south.

Tenke can earn 100% of the property by spending US$4 million on exploration and issuing 2.4 million shares over four years.