Thyssen Mining Explorations Inc.
3/2/99 -
Exploration Update
THYSSEN MINING EXPLORATION INC ("TME-V") - Exploration Update
Andy Yearn, president of Thyssen Mining Exploration inc. (TME)
is pleased to announce the results of the recently completed
diamond drilling program at the Churqui property near Vallenar,
Region 3, Chile.
As previously announced, the program had two objectives:
1) to confirm the presence,continuity and grade of the manto, and
2) to interpret the regional geology, particularly with respect to
the potential source of the copper mineralization. The program
consisted of 23 holes totalling some 2,162 meters. All core was
logged, and all mineralized sections split and assayed by Acme
Analytical Laboratories SA of Santiago. All samples were assayed
for both copper and silver.
The mineralized manto was clearly identified in 15 holes. The manto
varied in thickness between 5 meters and 0.5 meters, with an average
thickness of 2 meters. The manto is flat to gently dipping, being most
amenable to room and pillar mining techniques. The manto lies between
15 and 40 meters below surface and is easily accessed from the surface
adit utilized in last years bulk sample program.
Using a cut off grade of 0.5% copper, the current proven and indicated
resources are 253,000 tonnes at an average grade of 2.19% copper
equivalent. Grades as high as 3.29% copper over 3 meters and 112 grams
per tonne of silver over 5 meters were encountered. As previously
announced, the ores are sulphide types that are amenable to recovery
by flotation, with recoveries of both copper and silver in excess of
90%.
The detailed hole intercept results are as follows:
DRILL HOLE FROM TO LENGTH CU% AG G/T
CH98-01 27.00 29.00 2.00 1.17 44.45
CH98-02 30.00 32.00 2.00 1.41 88.00
39.20 41.00 1.80 1.75 38.43
396.00 398.00 2.00 0.49 5.00
CH98-03 26.00 26.55 0.55 1.74 96.90
CH98-04 20.00 23.00 3.00 0.70 27.10
24.00 27.00 3.00 3.08 86.73
CH98-05 31.00 33.00 2.00 1.20 6.35
CH98-06 30.00 33.00 3.00 1.79 68.03
40.00 42.00 2.00 0.72 3.15
CH98-07 32.00 37.00 5.00 2.36 112.34
40.00 41.00 1.00 1.14 62.30
CH98-08 38.35 40.35 2.00 1.85 98.85
CH98-09 13.60 14.60 1.00 0.48 3.50
18.60 19.60 1.00 0.51 2.00
21.40 24.40 3.00 3.29 51.43
25.40 28.20 2.80 1.96 45.36
30.20 31.20 1.00 0.76 5.10
CH98-10 16.00 17.00 1.00 0.50 0.10
CH98-11 13.00 16.00 3.00 2.36 43.13
CH98-12 21.00 25.00 4.00 2.17 8.57
30.00 32.00 2.00 4.25 24.20
CH98-13 18.00 22.00 4.00 20.8 52.20
29.00 30.00 1.00 1.16 12.20
CH98-15 0.00 4.60 4.60 0.95 6.05
CH98-20 14.00 16.00 2.00 0.78 2.90
23.00 26.00 3.00 0.66 56.90
These results have further confirmed TME's opinion that the manto
deposit has excellent continuity and grade, and that the
mineralization appears to remain open in several directions. The
company plans to continue its program of exploration at Churqui, with
the intention of expanding the current resource to at least 2 million
tonnes.
Regional Geology
As part of the exploration effort at Churqui, TME is conducting a
parallel exploration program to the primary manto exploration. The
purpose of which is to interpret the underlying stratigraphy and
ultimately locate a large porphyry type deposit. It is believed that
such a porphyry is the source of the copper that has been secondarily
deposited into the volcanic breccia to create the manto.
To the north of the Churqui property, a magnetite horizon outcrops at
surface. This type of iron formation, overlain by a copper rich
manto, is similar to the regional geology at the Candelaria mine. With
these indicators, four of the drill holes in the program were
deepened beyond the base of the manto to examine the underlying
stratigraphy and test for indications of the presence of a porphyry
deposit (to depths of 442, 322, 178 and 127 meters).
In all four of the holes, the andesite basement rocks showed weak
potasic alteration with anomalous magnetite presence, both of which
are indicative of porphyritic type intrusive alteration. These
results confirm that the area has been exposed to the metamorphic
effects of an intrusive event.
These results are most encouraging. TME plans to continue with its
parallel deep porphyry exploration as part of the ongoing exploration
of the 31 square kilometers of claims that the company holds in the
Churqui area.
TME is a mining and exploration company headquartered in Vancouver,
B.C. Its operations are in Chile and Argentina. TEL: (604) 664-0502
Allen Wilson or Phil Gurat FAX: (604) 682-6509 TOLL FREE:
1-800-398-1409 EMAIL: info@thyssen.bc.ca |
