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.
© Copyright 1999 Canjex Publishing Ltd. canada-stockwatch.com
|
