Here's a history of the Laplata property to date:
LAPLATA PROPERTY
A company by the name of Compania Minera Toachi formerly mined the Laplata property from 1975 to 1981. Production amounted to 130,000 tonnes grading 3.6% Cu, 7.1% Zn, 4.1 g/t Au, 65.1 g/t Ag. Feasibilty reports by Metallgesellschaft in 1982 estimated 235,000 tonnes grading 4.4% Cu, 4.8% Zn, 3.9 g/t Au, 43.4 g/t Ag. This mine was reported closed due to the difficulties encountered under the former mining laws in Ecuador.
A couple of holes drilled prior to the closure of the mined discovered a potential new lense:
MT-22 intersected 41.2 m grading 6.9% Cu, 5.0% Zn, 3.8 g/t Au, 52.6 g/t Ag.
MT-26 drilled 18 meters south, intersected 18.4 meters grading ).8% Cu, 5.6% Zn, 5.1 g/t Au, and 44 g/t Ag.
Several years of bad metal prices made this property expendable, and Zappa aquired it!
Since Cambior has signed a 50/50 joint venture aggreement with Zappa on the Laplata property the following results have been obtained:
96-01 hit 10m of 1.0% Cu, 5.1% Zn, 4.1 g/t Au, and 72.0 g/t Ag.
96-09 intersected 8.7m averaging 3.85% Cu, 12.0% Zn, 11.1 g/t Au, 93.0 g/t Ag, and 2.4% Lead.
97-12 hit 15.0m of 0.3% Cu, 4.1% Zn, 3.3 g/t Au, 43.0 g/t Ag, 0.6% Lead.
97-15 hit a shallow intercept of 1.8m but averaged 4.5% Cu, 2.1% Zn, 4.2 g/t Au, 52.5 g/t Ag.
97-16 hit 2.1m of 11.0% Cu, 3.8% Zn, 8.2 g/t Au, 95 g/t Ag.
97-17 hit 4.2m of 8.4% Cu, 4.2% Zn, 18.9 g/t Au, 119 g/t Ag, and .9% Lead.
To get a true picture of the deposit a person should get a map, as it makes more sense. It also should be noted that holes 96-02 and the next 6 holes were drilled to the north of the old mine site, in which there were no economic intersections reported.
From the indications I get, the proven tonnage is now at approximately 1.5 million tons, with an NSR of $80 per ton.
There are 7 more holes with assays pending in the next week or so! It appears previous drill results are more than solid, but we still aren't getting the attention this property deserves! Cambior has also discovered another potential lense below the main lense they are drilling! Lenses are usually found in clusters. The results will tell us whether we have a western extension, as well as a southern extension! The furthest hole drilled south previously had results of 11 g Gold/ton, 112g Silver/ton, 3.8% Copper, 12% Zinc, and 2.5% Lead. After Cambior completed the pulse testing, and they said "there was to much Zinc in the ground to get a true reading? I think well know what they were reading pretty soon!
We are also awaiting a decision by Cambior as to whether they will carry on with a major drill program next year!
Zappa doesn't have to pay any money for exploration as other companies are paying for the work!
It seems like only a matter of time before some promotional machine gets a hold of Zappa!
Dean
PS Almost everytime I tell people about Zappa they ask me if it is a Gold stock? If it is they aren't interested, untill they hear what Zappa's got! Then they buy a couple thousand shares the next day! My only problem is that I don't have that many connections.
|
