Tenke Commences Drilling At Alto Rico Gold Project
Friday May 30, 10:25 am ET
VANCOUVER, BRITISH COLUMBIA--Tenke Mining Corp. (the "Company") is pleased to announce the start of a drilling program at the Alto Rico gold project in Argentina. The program will include reverse circulation and diamond drill holes, as well as combined RC-DH holes. The initial phase of drilling schedules approximately 1,300 metres in 7 holes testing geophysical and geochemical targets within an area of 2 x 3 kilometres, defined from an extensive field program carried out January through May. Regionally, the mineralization model is low sulphidation high grade gold vein and stockwork systems.
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Drilling will be conducted over the Alto Rico stockwork zone, vein system and also on a newly identified resistor east of the main target area which returned a 39.7 g/t gold chip sample during a recent sampling program. Please see attached map. The drill program will assist with geological modeling of the project and provide detailed geometry and texture indicators of these mineralized structures for future drill programs.
Over the past five months, Tenke's exploration team has progressed the Alto Rico project through a comprehensive regional and local prospecting program including mapping, sampling, trenching, and geophysics. The project, encompassing an overall area of 25 square kilometres, exhibits good exploration potential and geological features characteristic of other discoveries and mines in the area such as Cerro Vanguardia (owned by Anglo, 9.1 million tonnes, producing approximately 170,000 ounces of gold per year) and the Martha Mine (Yamana), El Pluma (Minera Andes) and several others.
At Alto Rico, both the veins and stockwork systems have shown gold and trace element anomalies in extensive and intensively silicified zones and swarms. These zones have indicated strong continuity in depth as defined geophysical resistors which generally correlate with regional and local fracture sets with proven links to mineralization paths. These geophysical anomalies have not only been demonstrated along known veins and stockwork areas, but also in several new concealed target zones, where they correlate with permeable lithologies within the hosting volcanics and volcaniclastics sequence. This is of importance since it represents a wider potential for bulk gold mineralization in the same area.
Tenke has a land package in Argentina totalling over 958,000 hectares, covering key prospective gold and base metal regions in the country. Over the past year and a half, Tenke had researched and compiled a comprehensive digital database containing detailed landsat imagery, geology and field data covering the entire country. From this information, Tenke assembled its extensive land package. The Company currently has 20 people on staff including 9 geologists working out of exploration offices in San Juan and Bariloche to support the respective regional projects.
Work over the next several months will focus primarily on two projects: Alto Rico and the Batidero project. Other projects will be activated as exploration progresses. With the geographical diversity of its land holdings, exploration throughout the Company's project areas will be year round. |
