This work is part of a larger program to find possible southern extensions of the Riqueza mineralised system, and/or to find possible new mineralised systems centred in the south.
As a result of the cancellation of a number of third-party owned mining concessions, a large area south of Riqueza became subject to a mining concession moratorium. This moratorium came to end on
Priorto this claim activity by Inca and Anglo American, in
New Targets at Cerro Vicuna and Cerro Ccarhua
Ridge-top mapping and sampling conducted at Ccarhua I has identified two new zones of alteration and mineralisation, which have been quickly elevated to drill target status. The first new target, known as
The second, larger new target that has been identified is approximately 800m southeast of
Whilst Cerro Ccarhua does not currently host Cu grades as high as those at Cerro Vicuna or at Riqueza (for example at Cuncayoc Copper and Ushpanga), the occurrence of a small porphyry intrusion and widespread phyllic alteration, including pervasive silicification and disseminated pyrite, makes Cerro Ccarhua an exceptional target. Importantly, the Cu levels at Cerro Ccarhua are comparable to those of the known Huancullo Au-Ag-Cu epithermal and Au-Ag-Cu porphyry deposits just 4kms the southeast.
Importance of Results
There are many reasons why these results are important:
Cerro Ccarhua and
Cerro Ccarhua occurs at an intersection of the northwest-southeast Chonta Fault System and a southwest-northeast lineament. Southwest-northeast lineaments (i.e. faults, joints) are known to be important in controlling mineralisation and large geophysical targets at Riqueza.
Cerro Ccarhua and the Huancullo epithermal-porphyry deposits show a similar southwest-northeast orientation.
Cerro Ccarhua and the Huancullo epithermal-porphyry deposits are defined by large satellite image colour anomalies. BHP has three projects in the area that centred over satellite image anomalies.
Cerro Ccarhua and
Cu grades at Cerro Vicuna are materially high (>3% Cu) and although the sample population is very low, the grades still represents very significant mineralisation.
Cerro Ccarhua hosts a small porphyry intrusion and hosts common phyllic alteration. These are indicative of possible proximal porphyry mineralisation.
Cu grades at Cerro Ccarhua are lower than at Cerro Ccarhua but are comparable to the Huancullo epithermal-porphyry deposits.
Cerro Ccarhua corresponds to a large, roughly circular alteration zone, approximately 1.3km in diameter. The overall size is commensurate with epithermal and porphyry deposits in this region and vicinity.
Cerro Ccarhua and
Next Steps South of Riqueza
Low-cost mapping and sampling will be conducted at Cerro Ccarhua and
FTA Drill Permit Update
Progress continues with the evaluation by the MINEM of our FTA drill permit application. Other than progress itself, no material developments have occurred since our latest detailed update of
Inca-Anglo American Mining Concession Applications and BHP in the Area
In a previous ASX announcement (
The Ccarhua I mining concession, the subject of mapping and sampling results of this announcement, and Gutierrez II, are not contested. These are anticipated to be granted in March-April next year. The northwest-southeast trending epithermal-porphyry-skarn mineral belt in the vicinity of Riqueza is book-ended by the Bethania porphyry system to the north and the Huancullo porphyry system to the south. The ground between is predominantly held by Inca, and, subject of the tender, possibly Anglo American. To the south, BHP owns three projects, each targeting satellite image/alteration anomalies.
Forward Looking Statement
The information in this report contains forward looking statements which involve a number of risks and uncertainties. These forward-looking statements are expressed in good faith and are believed to have a reasonable basis at the time of inclusion in this report. These statements reflect current expectations, intention and/or strategies regarding the future and assumptions based on currently available information. Should one or more of the risks or uncertainties materialise, or should underlying assumptions prove incorrect, actual results may vary from the expectations, intentions and/or strategies described in this report. No obligation is assumed to update forward looking statements if these beliefs, opinions and estimates should change or to reflect other future developments.
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