Some nice information on TK the lost stock that all the new SI daytraders <g> have forgotten about:
Nice map included.
Demetrio Prospect
The Company has staked 5 claims totalling 5,000 hectares, known as the Demetrio Project. The project is located between the Peruvian departments of La Libertad and Cajamarca, within the Pataz mining district, 26 km northwest of the Poderosa gold mine (100,000 oz annual production) and 510km north of Lima . The Demetrio Project is the second project to be acquired under the Company's exploration alliance with Sierra Peru Pty Ltd (“Sierra Peru “).
In 1996, reconaissance exploration in the vicinity of the Demetrio Project by a private Peruvian company located four gold mineralized areas with artesinal workings across an area of 9km by 5km. Thirty-six unconfirmed grab samples from these zones of mineralization returned average grades between 1.5 and 7.0 g/t Au. Gold mineralization is developed within altered, pyritic and gossanous mantos within sandstone and quartzite of the Chimu Formation and Maranon Group at altitudes ranging from 1,200m to 3,400m. Prospects identified to date include:
• The Carbunco Zone where mineralization is hosted within sandstone and quarzite of the Chimu Formation and gossans with best results of 2.8 g/t Au and 4.3 g/t Au;
• The Pucara Zone where mineralization is hosted within sandstone and quartzite of the Chimu Formation with best results of 5.9 g/t Au and 3.8 g/t Au;
• The Fundo al Alumbre and Chucuambo Zones where mineralization is hosted within sediments of the Maranon Group with best results including 1.3 g/t Au, 4.6 g/t Au, 1.4 g/t Au and 6.8 g/t Au;
• The San Martin Zone where mineralization is hosted by both the Chimu Formation and Maranon Group with best results including 1.3 g/t Au, 3.4 g/t Au and 2.3 g/t Au.
The Demetrio Project lies along a structural trend at the northern end of the Pataz mining district, home to several operating high grade gold mines including the substantial Poderosa, Horizonte and Retamas operations.
The Pataz district is a major gold province in Peru from which o ver 6 million ounces of gold have been extracted over the past 100 years. Production has come from more than 16 underground mines where grades typically vary between 7 and 15 g/t Au and locally reach up to 120 g/t Au. In 2000, the annual production of the Pataz district amounted to 380,000 ounces and contributed almost 10% to the gold production of Peru . In situ gold resources at the producing mines are estimated to be in excess of 40 million ounces, and the Company is pleased to be exploring in a district with such major deposit potential.
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