CDU:
Cardero Resource Corp.: Large Soil Geochemical Anomaly Encountered at Chingolo
Wednesday February 19, 1:34 pm ET
VANCOUVER, BRITISH COLUMBIA--Cardero Resource Corp. (the "Company") is pleased to announce results from its reconnaissance geochemical exploration program on the Chingolo silver prospect, a part of the 33,000 hectare Olaroz Project in the Province of Jujuy, northwestern Argentina.
The Company has received analytical results for a wide spaced reconnaissance soil sampling survey, carried out during late December 2002. A 1.0 x 1.6 km area was investigated with soil samples collected on 200 metre centers from the c-horizon approximately 40 cm below surface. The surveyed area covered and extended to the north, south and east of the known 600 x 400 metre siliceous-kaolinitic hydrothermal center alteration zone. The western extension of the prospect is overlain by younger felsic welded tuff deposits. Most of the surveyed area is underlain by flat lying Tertiary polymictic conglomerate beds similar to those mapped at the Providencia silver deposit.
The samples were analyzed for silver, arsenic, antimony, lead, zinc and copper. A geochemical anomaly in silver, arsenic, antimony, lead and zinc has been inferred which measures 400 metres wide and 600 metres long essentially coinciding with the surficial expression of the hydrothermal alteration zone.
Discussion
Silver values in soils of 5.0 and 11.9 g/t over a background of less than 5 g/t coincide with previous sampling in deeper pits that returned values of several hundred grams silver per tonne. These locations are associated with the most intense hydrothermal alteration and are located stratigraphically at the paleo-surface inferred from the presence of silica-barite hot-springs sinter deposits. Anomalous values in lead and arsenic surround the silver anomaly while anomalous antimony appears to be displaced 200 to 400 metres to the south where recent erosion has exposed lower stratigraphy. Anomalous values in zinc occur to the north and south of the silver anomaly. Copper values were uniformly low over the entire survey area.
A truck-portable air-drilling program has commenced at Chingolo. The program is designed to collect shallow bedrock samples on 50 x 50 metre centers to define the location of the geochemical anomaly. It is anticipated that a deep, reverse circulation drill program to evaluate the potential of the prospect will follow this shallow sampling.
Other Activities
At the Providencia silver deposit geological mapping and surface channel sampling of the exposed mineralized zone have been completed. The company is waiting for results from approximately 75% of the samples collected. Mapping has identified sets of north and northeast trending faults as the principal mineralization feeder conduits. Detailed mapping of these structures and a soil geochemical survey have been initiated to the west and south of the main deposit where an altered conglomerate unit returned a high arsenic and antimony value. To date mapping and structural analysis has extended the area of immediate near surface potential to approximately 1,600 x 700 metres.
Anticipated Drilling
A program of reverse circulation drilling is expected to commence upon completion of the current work programs at Providencia and Chingolo.
Cardero Resource Corp. is a mineral exploration and development company listed on the TSX Venture Exchange. The Company is currently evaluating silver properties in Argentina and gold and copper properties in Mexico, projects that have the potential to contain world class mineral deposits. |
