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Samex Mining Corp -
Samex's Eskapa target zone geochemical
results
Samex Mining Corp
SXG
Shares issued 23,204,481
1999-01-15 close $0.45
Monday Jan 18 1999
Mr. Robert Kell reports
Exploration work is in progress to ready the Eskapa property for core drill testing
of a large precious metal target with potential for a bulk-tonnage silver-gold
deposit. Geochemical analytical results have been received for sampling
completed in December 1998 on silica-barite rock outcrops and Spanish
Colonial-era workings and dumps on the property.
A target zone, with dimensions of 1,000 metres long by 500 metres across, has
been identified, The target zone and a surrounding prospective area are underlain
by a gently dipping volcanic rock sequence which has been affected by strong
clay-alunite alteration with deposition of abundant disseminated pyrite. Supergene
alteration has produced an oxide capping of variable thickness. Numerous
resistant silica rock bodies with abundant coarse-bladed barite are scattered
across the target zone as prominent, tall, chimney-like outcrops. Spanish
Colonial-era piques (pit/shaft-like workings) sunk adjacent to these outcrops
encountered fresh sulphide mineralization as fine-grained, strong disseminations
within silicified volcanic rock at depths generally less than five metres below the
surface. Analytical results show that composite dump and rock-chip samples of
this material from within the target zone carry high silver values (58.5 to 599.6
grams per metric ton (averaged 263.4 grams per metric ton or 8.47 ounces per
metric ton)). Highly anomalous amounts of antimony; lead, mercury, arsenic,
copper, and detectable gold are also commonly present. Although the
clay-alunite-altered volcanic rock is strongly supergene leached at/near the
surface, most rock-chip samples of this material collected over parts of the target
area contain anomalous amounts of mercury (120 to 4800 ppb; 322 ppb,
average) and locally anomalous amounts of arsenic (107 to 2870 ppm), antimony
(22 to 280 ppm), and detectable gold (seven to 47 ppb). Silver and lead values in
the clay-alunite volcanic rock are generally low (less than detectable levels) and
may reflect preferential effects of strong supergene leaching. The anomalous
amounts of pathfinder elements arsenic, antimony, and mercury in the samples hint
that the mineralization may be gold-bearing at depth.
Target concept
The clay-alunite alteration and disseminated pyriteferous sulphide are believed to
represent the higher level halo associated with a deeper seated precious metal-rich
sulphide deposition. Silver and gold-bearing hydrothermal fluids ascending through
a feeder zone may have pooled beneath an impermeable layer. The solutions
would then spread throughout permeable volcanic intervals below it, forming silver
and gold-bearing mantos in stratigraphic intervals. The scattered silica rock
masses were likely deposited by sulphide-mineralizing fluids which, in places,
escaped from the deeper levels of such mantos and leaked upward along
pathways provided by structural zones. The mineralized mantos target is expected
to be positioned beneath the area outlined by the surface distribution of
outcropping silica-barite rock masses. The extensive size of this area and the
possible depth extent over which precious metals can be deposited within an
underlying feeder zone suggest a target permissive of large tonnages (20 million to
greater than 60 million metric tons).
Reconnaissance IP chargeability results confirm the presence of considerable
disseminated sulphide over the area which persists to depths in excess of 250
metres. These results also indicate the sulphide is hosted both in areas of high
resistivity (silicification) and low resistivity (clay-alunite altered) and are permissive
of both dipping mantos and a feeder zone with steep structurally controlled,
sulphide-mineralized targets being present.
Work plan
The current exploration work is aimed at elucidating further aspects of the Eskapa
target zone. The work emphasizes detailed geologic mapping of the prospective
area aimed at establishing the spatial surface distribution of all the mineralized
silica-barite breccia bodies, alteration rock types, and structural features.
Additional road building and bulldozer trenching is in progress creating newly cut
rock exposures. These exposures and those in accessible old workings (piques)
will be systematically channel sampled. The spatial distribution of precious metal
and its various pathfinder metals in these samples will be carefully evaluated and
used with the geological data to choose drill sites.
WARNING: The company relies on litigation protection for "forward-looking"
statements.
(c) Copyright 1999 Canjex Publishing Ltd. canada-stockwatch.com |
