February 03, 2016 @ 09:12
Highlights
- A soil molybdenum anomaly area with 3.6 kilometers by 1.2 kilometers was defined surrounding the known tourmaline-specularite breccia.
- Rock sampling returned up to 1.2% Cu, 860 ppm Mo and 0.12 g/t Au in the hydrothermal breccia.
Re/Os dating in the breccia returned 91 ± 0.4 Ma, representing a Cretaceous Porphyry System similar to Andacollo Mine and others.
AURYN Mining Chile SpA (“AURYN” or “the Company” or “AMC”) is pleased to announce results from the first phase of soil geochemistry sampling program on the Pegaso Nero Moly-Copper area, located within the Altos de Lipangue project, in the Cretaceous-aged belt of central Chile.
The soil geochemistry program detected an important Mo – Cu anomaly surrounded by Pb, Zn and As anomalies. Inside the area containing high molybdenum values on soil samples, it was recognized a hydrothermal breccia with tourmaline – specularite and associated copper oxides.
Mineralization observed at Pegaso Nero target is related to a very well defined structural controlled alteration system that has only been partially explored by AURYN. This system hosts an important number of outcrops of hydrothermal tourmaline – specularite breccia with molybdenum, copper and gold mineralization.
A total of one hundred and thirty-six soil samples were completed at the Pegaso Nero prospect. A large molybdenum anomalous area was detected, with extension almost 3.6 by 1.2 kilometers and still open to the east. Moreover, there are two sectors with strong Cu-Mo mineralization identified to date within the molybdenum anomaly area, named the Moly Zone and the Copper Zone, where Copper is located 2 km south of the Moly zone. (See Figure1)
The previous rock sampling detected highly mineralized Mo-Cu±Au breccia, in this campaign the rock sampling was extended with preliminary results of 1.2% Cu, 860 ppm Mo and 0.12 g/t Au in the hydrothermal breccia.
Furthermore, one sample of molybdenite from the breccia was sent to the ALS laboratory in Quebec, Canada, for Re/Os dating, the result was 91 ± 0.4 Ma, which is the age of several known Copper, Gold and Molybdenum porphyry deposits in Chile, such as Andacollo, Dos Amigos, Johana and Frontera.
The extensive molybdenum anomaly, the presence of hydrothermal breccia, the high Copper – Molybdenum results on that breccia and the age of the mineralization, are showing to AURYN Mining Chile team that is in front of a new Porphyry Copper system and this new discovery is opening the cretaceous porphyry belt to the south of Llahuin and Andacollo porphyries on the IV region in Chile.
AURYN is planning for this summer, an extensive exploration program at the Pegaso Nero prospect, aimed at testing for extensions to the anomalies, which will include systematic additional geochemical sampling in the known prospects, reconnaissance of the surrounding areas and IP lines to detect undergrown distribution.
Figure 1: Soil sampling results at Pegaso Nero target.