Tenke Mining Corp.: Argentina Gold Land Package in Excess of 700,000 Hectares; Exploration Program to Commence in November
Thursday October 17, 1:03 pm ET
VANCOUVER, BRITISH COLUMBIA--Tenke Mining Corp. (the "Company") reports that the Company has assembled a land package encompassing over 700,000 hectares covering key prospective gold regions in Argentina. The prime areas of focus are in the Patagonia and Cuyo (San Juan/Mendoza) regions. A highly motivated team of 6 geologists and support staff is in place and field offices have been opened in San Juan and Bariloche to coordinate exploration activities over Tenke's vast territory in these key regions. Detailed geological mapping, geochemical sampling, geophysical surveying and target definition is scheduled to commence in November at prospects in the Andean Cordillera along the southern and northern continuity of the El Indio gold belt (Veladero/Pascua). In other project areas, field work is already underway
Patagonia
The Patagonia region of Argentina consists of very intricate geology comprising volcanic and magmatic belts of different ages ranging from mid-Paleozoic to mid-Tertiary epochs. The known mineral occurrences in these regions comprise polymetallic veins (meso and hypothermal) to gold-silver epithermal models, with some links to porphyry systems in depth. Remobilization and supergenesis associated with successive events are key to identifying prospective fracture systems as the most viable pathways for mineral concentrations.
Tenke's claims in this region primarily include low sulfidation veins and stockwork mineralization models with some classified as potential gold/copper porphyries. Several of these properties have shown strong gold - silver - trace elements (Hg, Te, As) anomalies, with rock chip (surface) grades in the range of 0.8 to 2-3 g/t gold. Typical low and high sulfidation alteration assemblages have been mapped and further field work will concentrate on target definition and advanced geochemistry. Some areas have potential for bulk mineralization along fracture zones and stockwork/vein swarms.
The Patagonia region is host to a number of gold/silver deposits including the Cerro Vanguardia (Anglo Gold) and Esquel (ex-Brancote, now held by Meridian Gold). These are low sulfidation, epithermal vein deposits. Both have gold resources exceeding 3 million ounces. Cerro Vanguardia produced 292,000 ounces of gold and more than 2 million ounces of silver in 2001 and Esquel is undergoing final feasibility studies and is projected to commence construction during the coming Argentine summer season.
Cuyo
The Cuyo region encompasses the prolific mining districts of Mendoza and San Juan. Within these areas, located on the Tertiary Volcanic Arc along the southern and northern continuity of the El Indio Belt (Veladero/Pascua, +26 million ounces gold), the ample distribution of volcanics and intrusives of Permian-Triassic ages (Choiyoi Group) are the reactive host for the calcalkaline intrusivity and volcanics related to the Neogene episodes. This type of magmatic-tectonic activity has resulted in numerous copper-molybdenum (and possibly gold) porphyry deposits in the regions, notably Pachon and Mercedario.
Most of these porphyry intrusives cut through a thick sequence of upper Mesozoic and Paleogene sediments and volcanics with different evolution in their magmatic fluids in relation to the host rocks. This fact, together with the different tectonic relationships, result in a wide series of porphyry-epithermal transitions and the main resulting mineralization in these transitions comprise sections of volcanics, sediments and volcanic breccias with varied degrees of mineralization, generally where the main episodes correspond with the silicification-sulfide stage.
Tenke has staked a large land position in the Cuyo region based on information from a comprehensive geological database, geochemical/geophysical anomalies, and satellite imagery. Main prospects include epithermal, skarn, and gold-copper porphyry targets.
Tenke is evaluating additional ground in both the Patagonia and Cuyo regions and considering joint venture opportunities. With the geographical diversity of its land holdings, exploration throughout the Company's project areas will be year round. Over the next several months, work will focus on the Batidero/Vicuna project area in San Juan province.
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Contact:
Tenke Mining Corp.
Sophia Shane
Corporate Development
Phone: (604) 689-7842
Website: www.tenke.com |
