This is the best property description I could find.
The Halley and Leoncocha properties are 140km southwest of Cuzco which is one hour by air southeast of Lima. A recently completed road crosses the southern portion of the more advanced Halley property, allowing easy access to the known zones of interest. Although neither of these properties has been previously evaluated by diamond drilling, adit and glory-hole mining during the 1940-1950 period saw the removal of an estimated 200,000 tonnes of unknown gold grade from the Quilca breccia area. Gold and locally occurring silver mineralization on the Halley property is hosted within a structurally complex Cretaceous sedimentary package displaying extensive areas of brecciation with strong to intense silicification, sericitization and pyritization. The primary exploration target on the Halley property is the Quilca breccia which has current exposed surface dimensions of 150 by 160m. The Quilca breccia is one of a series of partially exposed, gold-enriched zones within a minimum 700m by 900m area of altered and mineralized breccia bodies transacted by a 600m linear structural zone. The most recent mapping and sampling program completed by Ulysses in December 1997 included more than 300 samples (pit and adit) which confirmed grade continuity within the mineralized breccia both horizontally and vertically to approximately 80m below surface. Some of the more significant continuous chip sample intervals from the various adits and open cuts of the Quilca breccia are as follows:
Location Continuous Chip Au
(metres) (g/t)
Quilca Breccia; Open Cut 6.00 17.62
Quilca Breccia; Open Cut 13.90 4.38
Quilca Breccia; Open Cut 24.90 3.11
Quilca Breccia;
Galeria 3739 10.20 3.72
Quilca Breccia;
Galeria 3739 43.05 5.78
Quilca Breccia;
Upper Adits 10.75 5.03
Quilca Breccia;
Galeria 3781 6.00 3.59
Other notable grab and continuous chip sample results along the extent of the minimum 600m linear structural zone hosting the Quilca breccia include: 3.8 and 4.7 g/t gold from Breccia Oeste, 150m southwest of Quilca; 23.4 g/t gold with 82.9 g/t silver from Angasmarca, 250m northeast of Quilca; and 15.8 g/t gold over 2.25m at Laqui, 450m to the northeast of Quilca. In addition to these very encouraging results along the primary Quilca structural trend, other zones of mineralized breccia occur elsewhere including four 2.0m chip samples which averaged 14.5 g/t gold from a newly identified target 200m to the northwest of Quilca. The LlamaKensa target, approximately 1.5km to the southeast of Quilca, has also returned encouraging results from two zones during the Ulysses sampling program. At this stage, it appears that mineralization at LlamaKensa is closely related to the same structural system controlling the alteration and mineralization at Quilca. Of 85 samples collected within a 100m by 200m area at the northernmost mineralized zone, 27 samples returned greater than 1.0 g/t gold and 15 samples were in excess of 3.0 g/t gold to high values of 44.9 and 81.2 g/t gold. A second altered/mineralized zone at LlamaKensa is 600-700m to the south where results included 10.3, 11.8 and 14.9 g/t gold from a group of 25 grab samples of which 10 returned results in excess of 1.0 g/t gold. Cherry Lane's due diligence program at Halley will focus on confirming moderate to high grade, open-pittable epithermal gold deposit potential related to the multiple breccia bodies widely distributed across the property. The second property, Leoncocha, is 10km northeast of Halley. While Leoncocha is at a much earlier stage of exploration, as many as five alteration zones have been identified with the very limited sampling undertaken. (c) Copyright 1998 Canjex Publishing Ltd. canada-stockwatch.com
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