News Jan 10, '09
Dorato Resources (DRI-V) has provided additional results from the 2008 regional exploration program operated by Minera Afrodita in the highly prolific Cordillera del Condor Gold-Copper Project, Northwest Peru. Minera Afrodita has identified 15 high priority airborne geophysical anomalies within the Tambo Block. Anomalies are supported by visible gold in stream beds, where data is available. Dorato has an option to acquire 100% of Minera Afrodita.
Geochemical data from rock, stream and soil samples provided by Minera Afrodita will now be used to screen and further prioritise anomalies. Initial geochemical data should be available from the laboratory in the coming days and results will be published as soon as possible.
A total of 690 line kilometres of AeroTEM data were collected, covering almost all of the 217 square kilometre Tambo Block, but only 20% of the total Cordillera del Condor project area.
"This is the first airborne geophysical survey on the Peruvian portion of the Cordillera del Condor and it has successfully identified multiple anomalies in highly prospective host rocks associated with significant gold mineralization," stated Keith Henderson, Dorato's President & CEO. "We already know that the El Tambo anomaly is coincident with extensive informal gold mine workings, although the geophysical anomalies are rather more extensive than the known workings at El Tambo. The remainder of the anomalies will be screened and prioritized using results from the extensive 2008 mapping and sampling program."
AeroTEM Interpretation
An Electromagnetic map is presented, showing priority anomalies outlined in white and stream beds containing visible gold in yellow circles (to see Figure 1 please click on: media3.marketwire.com. The Tambo, Lucero and Cobrecon anomalies were discussed previously (previous News Release NR09-02) and have been highlighted again in Figure 1.
The El Tambo Target, located within the Minera Afrodita Tambo Block, is an epithermal poly-sulphide vein system, hosted within rhyodacite porphyry, and a known gold-mineralized system with 2.6 kilometres of underground development, in 142 historical mine workings. The mineralized veins are interpreted to represent a very significant continuation of the Chinapintza Mining District (Jerusalem Deposit) in Ecuador.
The informal mine workings have a strike length of greater than 500 metres and a moderate geophysical response (to see Figure 2 please click on: media3.marketwire.com. However, more significantly, there are 4 other untested high priority anomalies in the immediate vicinity, but outside of the known El Tambo workings. Laboratory results from rock, stream and soil sampling will determine whether these anomalies are coincident with gold anomalies at surface.
The AeroTEM system is a time-domain electromagnetic (EM) system, which provides two-component (vertical and horizontal) on-time and off-time EM data. As a helicopter-borne system, AeroTEM provides EM data in rugged terrain. Data was collected at 200 metre line spacing and at an average height of 100m above ground level. The data collected covers only the Tambo Block (to see Figure 3 please click on: media3.marketwire.com.
The data was carefully examined by Dorato's consulting geophysicist and formational anomalies (due to existing rock properties rather than mineralization) were discarded on the basis of regional mapping. The remaining priority anomalies are strong through multiple off-time channels and are associated with coincident magnetic anomalies. This latter characteristic ensures that 'red herring' carbonaceous rock responses are not included as priority anomalies. The alteration haloes being targeted contain disseminated pyrite, which would not normally conduct (as the pyrite is not sufficiently connected to act as a conductor). However, in this wet, tropical environment, water-saturated clay alteration with associated disseminated pyrite is conductive and creates a strong, multi-channel EM anomaly.
Cordillera del Condor Background
The Cordillera del Condor has been one of the most important gold-bearing areas in Ecuador and Peru since pre-Inca times. On the Ecuador side of the border, historical high-grade, small scale, gold production is reported to have exceeded 100,000 oz per year.
Modern exploration on the Ecuadorian side of the border has recently resulted in the discovery of multiple, significant and world-class gold and base metal-bearing districts, such as Kinross Gold Corporation's Fruta del Norte Gold deposit (inferred resources; 13.6 million ounces gold at 7.23 g/t gold), Corriente Resources Inc.'s Mirdor Copper-Gold porphyry deposit (measured & indicated; 438 million tonnes at 0.61% copper, 0.19 g/t gold, and inferred resources; 235 million tonnes at 0.52% copper, 0.17 g/t gold) and the Mirador Norte Copper-Gold porphyry deposit (indicated; 171 million tonnes at 0.51% copper, 0.09 g/t gold, inferred; 46 million tonnes at 0.51% copper, 0.07 g/t gold), and Dynasty Metals & Mining Inc.'s emerging Jerusalem Gold deposit in the Chinapintza district (measured & indicated; 0.58 million ounces gold at 12.4 g/t gold, inferred; 0.71 million ounces at 11.5 g/t gold). The technical information with respect to the above deposits was obtained through the respective companies' public disclosure documents available on SEDAR.
Qualified Person
EurGeol Keith J. Henderson, P.Geo., Dorato's President and CEO and a qualified person as defined by National Instrument 43-101, has reviewed the scientific and technical information that forms the basis for this news release. Mr. Henderson is not independent of the Company as he is an officer and a shareholder.
The results of the geophysical survey have been reviewed by Dorato's consulting geophysicist, Brian Williams, who checked data quality and completed a detailed interpretation of the data. |
