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Highlights of the Cori Puncho Project include:
- 2006 drill results include 2.143 g/t gold over 26-metres
- 10-holes totaling 1020 metres confirmed a consistent gold mineralizing system
- Good access/infrastructure to site
- Majority of claims 100% owned
Location
The Project is logistically well located within 15 kilometres of a paved highway and power grid and only a 1.5 hour drive from the large community of Juliaca in the Department of Puno, southern Peru. Elevations range from 4,000 to 4,300 meters with road access to the southern and central portions of the property.
Overview
The Cori Puncho gold property is centered over the CP Corridor, a major north-northwest trending structural zone that can be traced for over five kilometers. The southern end of the CP Corridor is best exposed on the CP Hill where gold mineralization is hosted by a sequence of tuffaceous sediments and volcanic breccia. Mineralization here is variably exposed on trend for approximately 300 meters and is seen in outcrop and prospect pits over a width of up to 100 meters. A Phase 1 drill program, completed in May 2006, is highlighted by results that include 2.14 g/t gold over 26 meters.
Mineralization on CP Hill can be projected under cover in both strike directions and down dip. Additional mineral potential continues to the north along the CP Corridor where anomalous gold and silver has been identified in several areas. These targets remain to be tested. With the exception of some in-holdings held by others, the Company controls the bulk of a 4 by 5 km land block with staked claims (100%) and one optioned property.
Work Performed
A Phase 1 drill program, completed in May 2006, is highlighted by the results from Hole CP-4, which returned 2.143 g/t over 26-metres.
Completed results are noted below:
Hole
Number |
Grade:
g/t gold |
Thickness:
Meters |
From:
Meters |
To:
Meters |
|
CP-1 |
0.680 |
26 |
16 |
42 |
|
CP-2 |
0.239 |
32 |
18 |
50 |
|
incl. |
0.402 |
8 |
18 |
26 |
|
and |
0.394 |
6 |
44 |
50 |
|
CP-3 |
0.772 |
20 |
6 |
26 |
|
CP-4 |
2.143 |
26 |
6 |
32 |
|
incl. |
3.600 |
12 |
8 |
20 |
|
CP-5 |
0.650 |
16 |
78 |
94 |
|
incl. |
0.910 |
4 |
90 |
94 |
|
CP-6 |
0.497 |
32 |
48 |
80 |
|
CP-7 |
0.549 |
32 |
48 |
80 |
Ten RVC drill holes totaling 1020 meters were completed in early May. The seven holes noted above tested the Main Shear Zone on CP Hill over a strike length of 250 meters and a vertical range of 100 meters - confirming a consistently gold mineralized system with a width in the order of 25 meters and an average gold grade of 0.738 g/t. The system remains open along strike in both directions and at depth.
Detailed work to date on the southern portion of the zone (CP Hill) has defined outcropping volcanic hosted gold mineralization over an area measuring 300 by 100 meters that strikes north northwesterly and dips steeply east. This mineralization remains open on strike in both directions, down dip and to the west. Exploration to date has been concentrated on CP Hill in the southern part of the project where local miners have been excavating irregular zones of fracturing and brecciation containing significant gold values.
Planned Exploration
The Company has elected to seek a joint venture partner for the next phase of work on the Cori Puncho project.
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