Rock Resources receives report on Coiron project
Rock Resources Inc RKR
Shares issued 21,543,508 Mar 25 close $0.19
Fri 26 Mar 99 News Release
Mr. Thomas Kennedy reports
Further to news in Stockwatch March 1, 1999, the company's consulting
geologist has had an opportunity to thoroughly review the induced
polarization and magnetometer written reports. He has provided Rock
Resources with a letter report dated March 26, 1999, which states as
follows:
"Re: Interpretation of Induced Potential and Ground Magnetic Surveys
conducted on the Coiron Property, Region IV, Chile during December 1998 and
January 1999.
Recently I have received a detailed report of induced potential and ground
magnetic surveys conducted by Zonge Ingenieria y Geofisca (Chile) S.A. on
Rock Resources' Coiron property in Region IV of Chile. Part of my
interpretation summary of the results of those surveys is as follows:
The Mount Tacho hydrothermal system hosts a dramatic chargeability anomaly
that persists from surface to the maximum penetration depth of the survey.
Near surface, it covers almost all of the 1.75 square kilometre outcrop
area of the hydrothermal implosion breccia. From depths of 100 to 250
metres, this anomaly evolves into a ring of chargeability highs that is
concentrated around the periphery of the breccia. This anomaly corresponds
with an area of low total magnetic field concentration which probably is
due to pervasive destruction of magnetite by quartz-tourmaline hydrothermal
fluid during breccia formation.
The chargeability anomaly and the central magnetic field low around Mount
Tacho occur in an area of mildly low resistivity. However, it is ringed by
an outer annulus of resistivity highs commonly with resistivities greater
than 10,000 ohm.metres. Generally, such high resistivities are associated
with granitic intrusive rocks. The annulus of resistivity highs around
Mount Tacho are interpreted to be caused by the presence of the Igor
intrusion beneath and around the hydrothermal system.
The area of high resistivity is associated with a ring of intense magnetic
highs that coalesce into a broad area of intense magnetism north of the
hydrothermal breccia. This magnetic pattern corresponds to the area of
potassic alteration and pervasive magnetite development in both Vinita
formation volcanics and underlying Igor intrusive rocks around the
hydrothermal system.
The area of high resistivity is associated with a ring of intense magnetic
highs that coalesce into a broad area of intense magnetism north of the
hydrothermal breccia. This magnetic pattern corresponds to the area of
potassic alteration and pervasive magnetite development in both Vinita
formation volcanics and underlying Igor intrusive rocks around the
hydrothermal system.
This arrangement of an inner chargeability anomaly ringed by an area of
high resistivity and magnetism adds confirmation to the hypothesis that the
hydrothermal system grew into an anvil shape through and above its
cauliform host intrusion containing pervasive potassic alteration and
abundant magnetite, which are prerequisites for the development of a
gold-rich copper porphyry deposit.
Sillitoe's (1993) analysis of survey responses to gold-rich porphyry copper
deposits shows that a chargeability anomaly with associated magnetic and
resistivity patterns similar to those hosted by the Mount Tacho
hydrothermal system normally occur in the upper parts of such deposits.
This indicates that economic quantities of disseminated gold and copper may
be present in bodies around the outcrop area of the hydrothermal breccia
and that all parts of the breccia margin are equally prospective for these
metals."
The management of Rock Resources is confident, given all of the evidence
currently available, that the likelihood of success in Chile is strong.
(c) Copyright 1999 Canjex Publishing Ltd. canada-stockwatch.com |
