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Thirty-three (33) drillholes have been completed to date in the Phase IV program, encompassing a total of 23,420 metres. Assay results have been received from the additional four drill holes totaling 3,153 metres, which include drillholes CHDH23-69 through to CHDH23-72. Key highlights and associated figures are provided below.
Chinchillones Breccia Target: High-grade breccia body with mineralization extending below 1,200m depth
Hole CHDH23-69 was drilled to test the continuity of the polymetallic trend in the Chinchillones West Area. It was drilled with an orientation of 135°/-80° and reached a depth of 1,242 metres (see Map 1 and Table 1 below). The results from this drillhole are highly significant, having intersected a 456-metre interval of continuous high-grade polymetallic (Zn-Pb-Cu-Ag-Au-Mo) breccia.
The drillhole intersected a high-grade breccia body emplaced within precursor diorites that host early mineralization A and B veins. This high-grade mineralization is largely hosted within a steep-sided magmatic-hydrothermal breccia body, at least 120 metres-wide and remains open along strike. The geometry and extent of this body are yet to be fully established.
This important breccia body exhibits broad textural and mineralogical zonation, characterized by zinc-rich, sulphidic, hydrothermal shingle breccias from along the contact zone with the country rocks and transitions down-dip to copper-rich mosaic breccias and then to molybdenite-rich fragment-supported breccias (see Figure 1 below). This zoning pattern is interpreted here to reflect the accumulation of over-pressured, volatile gases which has led to an eruptive column above a porphyry Cu-Mo intrusion, without breaching the paleosurface.
Significant polymetallic (Zn-Pb-Au-Cu-Mo) mineralization intervals for drillhole CHDH23-69 includes:
- 786.0m @ 0.43% Cu, 368 ppm Mo, 0.23 g/t Au and 15.78 g/t Ag, from 456 to 1,242m (open at depth)
- including 160.0m @ 0.35% Cu, 0.34 g/t Au, 45.72 g/t Ag, 3.58% Zn, 1.25% Pb, from 456 to 616m.
- including 166.3m @ 1.35% Cu, 0.54 g/t Au, 26.63 g/t Ag, 181 ppm Mo, from 616 to 782.3m.
These hydrothermal breccia characteristics are affiliated with, and are thought to form part of the mineralized breccias found in drillholes CHDH21-37, CHDH21-38, CHDH21-23 and CHDH21-26. Thus, this zone of higher-grade breccias has a drill-demonstrated strike length of at least 250m and a vertical column of at least 600m. Follow up drillholes are testing the breccia's NNE-continuity.
CHDH23-72 is located on the eastern edge of the Link zone. It was drilled with an orientation of 135°/-65° to a depth of 762 metres (see Map 1 and Table 1 below).
- Drill intercepts:
- 166.0m @ 0.11% Cu, 180 ppm Mo, 515 ppm Zn, from 132.0 to 298.0m.
- 34.0m @ 0.12% Cu, 8.39 g/t Ag, 0.15% Zn, from 684.0 to 718.0m.
- From 246m to 509m intercalated early dioritic and andesitic porphyries were intersected.
- Strong potassium alteration, Biotite +/- K-feldspar with moderate superimposed sericite-chlorite alteration.
- It is considered that the porphyry intercepts could correspond to the West extension of the Chita primary porphyry (PSU).
New Target to the NE of Chinchillones
During late 2022, the Company identified and drilled a new 1 km x 1 km target area to the NNE of the principal Chinchillones system.
The new target area is covered by the Agua Negra sedimentary sequence, with quartzites and shale, traversed by small andesitic/dacitic bodies hosting porphyry-related B and A veinlets. Scout drillholes at this location included CHDH23-70 and CHDH23-71.
Hole CHDH23-70 was drilled to a depth of 618.2 metres (see Map 1 and Table 1 below). Highlights are outlined below:
- Drill intercepts:
- 8.0m @ 0.49% Cu, 0.19 g/t Au and 10.45 g/t Ag from 372.0 to 380.0m.
- 16.0m @ 0.40% Cu, 1.14 g/t Au, and 4.56 g/t Ag, from 564.0 to 580.0m.
- Intersected narrow, high-sulphidation structures measuring 8 and 16 metres containing chalcopyrite, pyrite and sphalerite.
- The drillhole intersected a sequence of sandstones and quartzites of the Agua Negra Formation hosting weak illite and sericite +/- chlorite alteration. A few early andesite dikes cut through this sequence.
PHASE IV: Diamond Drilling Program – Summary of Analytical Results | |||||||||
Hole ID | From | To | Length | Cu | Au | Ag | Mo | Pb | Zn |
(mt) | (mt) | (mts) (*) | % | g/t | g/t | ppm | ppm | ppm | |
CHDH23-69 | 456.00 | 1242.00 | 786.00 | 0.43 % | 0.23 | 15.78 | 368 | 2587 | 7591 |
Incl | 456.00 | 616.00 | 160.00 | 0.35 % | 0.34 | 45.72 | 45 | 12485 | 35840 |
616.00 | 782.30 | 166.30 | 1.35 % | 0.54 | 26.63 | 181 | 147 | 959 | |
782.30 | 1164.00 | 381.70 | 0.13 % | 0.09 | 1.58 | 645 | 26 | 181 | |
CHDH23-70 | 372.00 | 380.00 | 8.00 | 0.49 % | 0.19 | 10.45 | 136 | 13 | 400 |
564.00 | 580.00 | 16.00 | 0.40 % | 1.14 | 4.56 | 4 | 24 | 139 | |
CHDH23-71 | 478.00 | 492.00 | 14.00 | 0.18 % | 0.12 | 1.73 | 1 | 19 | 694 |
CHDH23-72 | 132.00 | 298.00 | 166.00 | 0.11 % | 0.03 | 3.88 | 180 | 112 | 515 |
684.00 | 718.00 | 34.00 | 0.12 % | 0.06 | 8.39 | 272 | 312 | 1541 | |
References: | |||||||||
(*) Intervals reported in the above table are not true thicknesses |
General outlook and exploration implications
The current results of the Phase IV exploratory activities, together with previous drilling phases, have confirmed an expanded Chinchillones porphyry-epithermal system, now estimated to cover a minimum area of 2 km x 2 km. The zone is open to more than 850m depth, which was the limit of previous drilling equipment utilized on the project.
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