Horizonte Minerals defines strong geophysical targets at El Aguila silver-lead-zinc-gold project, Peru
Source: Edited Press Release
metalsplace.com
Horizonte Minerals, the AIM listed exploration and development company focused on Brazil and Peru, Monday announce definition of four new geophysical and geochemical targets on its 100% owned El Aguila silver-lead-zinc-gold project, located in the Cerro de Pasco mining district, central Peru.
At Pacos Hill the survey indicates a strong chargeability / low resistivity anomaly adjacent to the known mineralised zone.
The untested broad anomaly represents a new target that if associated with economic mineralization, would add significant tonnage potential to the project, the company said.
Additional geophysical targets were also defined at Zona Sur and reconnaissance rock chip sampling has identified a new target zone east of Pacos Hill.
Following the successful drilling programme completed at the Pacos Hill area in October 2006, Horizonte undertook a geophysical survey comprising ground magnetics and Induced Polarization (IP) over the Pacos Hill and Zona Sur zones with the objective of optimising the next phase of drilling.
A total of 48.9 km of magnetic profiles were measured and 7.1 km of IP measurements were recorded on 50 million spaced centres on north south lines.
At the same time, detailed mapping and rock geochemical sampling was completed in the area around Pacos Hill and over Zona Sur, the company said.
Three strong IP anomalies were defined in the previously undrilled Zona Sur area, interpreted as occurring at between 100 meters and 250 meters depth, correlating with mineralisation and alteration mapped on surface, the company said.
* Target 1 lies at 100 million depth and coincides with high grade surface copper-lead-silver veins.
* Target 2 occurs at 150 million depth and is associated with a NW/SE trending fault and the SW dipping Mitu rock formation. The surface expression is marked by extensive faulting and fracturing of the host Pucara Limestone.
* Target 3 is a chargeability anomaly at circa 250 metres that appears to be directly related with mapped veins – Vicky and Marlene. Near the surface the anomaly is weak but strengthens at depth where the mineralised veins intersect the NW/SE fault.
Geochemical rock samples taken from the two underground workings in the Zona Sur demonstrate higher grades of silver than in the Pacos Hill area together with copper and gold possibly indicating closer to source intrusive, the company said.
The average grade of 7 channel samples taken along 230 metres extent of the Veta Marlene returned 0.24g/t Au, 10.24 oz/t Ag, 4% Pb and 5.6% Zn.
Five IP north-south orientated lines with a total length of 4.6 km were run over the Pacos Hill zone. The data generated indicates that both Veta Sur and Veta Norte, the focus of the October 2006 drilling programme, are outboard of the main geophysical anomaly, the company said.
A significant chargeability anomaly on line 00 between 50 metres and 150 metres depth is located to the south of the principle veins.
One drill hole from the October 2006 programme, HM DDH-11, tested the area south of the veins. It returned 16.6 metre grading 64g/t silver (Ag), 1.9% lead (Pb) and 0.9% zinc (Zn).
While this hole only reached a vertical depth of 45 metres and was outboard of the geophysical anomaly, it indicates the mineralised system extends to the south, the company said.
Follow-up mapping and sampling to the east of the Pacos Hill target has outlined a zone of alteration and vein mineralisation with values of 5.9% Pb and 12.7% Zn (RK-6929).
CEO Jeremy Martin said, "The results of the IP survey have upgraded the Zona Sur area. It indicates that the high grade veins on surface may be associated with a larger replacement system at relatively shallow depths".
"The geophysics has certainly provided greater focus to the system. The new geochemical values from the underground workings demonstrate the very high grades of silver found in the Zona Sur are significantly higher than at Pacos Hill where we completed the drilling in the latter part of last year. ", Martin said.
"At Pacos Hill the October 2006 drilling demonstrated the economic potential of the Veta Norte and Sur replacement vein systems. However the geophysics indicates that the drilling was outboard of the main geophysical target area, which appears to lie at depth and to the south. This opens up the tonnage potential in the Pacos Hill area", he said. |
