The Project is located 20 kilometers west of the giant Pelambres-El Pachón porphyry systems. A number of other copper porphyry and porphyry skarn deposits are located near Pircas Verdes (Figure 2).
The Company has completed surface mapping and sampling over the previously identified alteration / mineralized areas on the property. During this period, Company personnel also collected a total of 23 samples from various phases of intrusive rocks associated with alteration and mineralization in order to identify and classify the different intrusive phases on how they could represent components of porphyry copper systems similar to the large mines in the area.
Eight samples have been collected for radiometric age dating from a selection of quartz porphyry, diorites and dacite porphyry outcrops on the Project and sent to
Due to customs restrictions in
New Project Evaluations
In addition to the on-going work at Pircas Verde, Company personnel continues to evaluate copper prospects, primarily in
About
The Pircas Verdes project is situated within a highly productive copper producing district, close to a number of very large porphyry copper - molybdenum deposits. Within the property, the key geological features that typically indicate potential for porphyry copper related mineralization have been identified by Nobel’s team.
- Piton is a leached intrusive with anomalous copper values in rock chip samples that covers an area of 1,500m by 800m (sampling information provided by the vendor and observed in outcrop). Piton is interpreted as possibly representing the upper levels of a buried mineralized porphyry system.
- The Pircas Verdes prospect area contains intense quartz-sulfide stockwork exposed over an area of approximately 450m by 600m peripheral to the Piton leached intrusive.
- Other exploration targets peripheral to the main Pircas Verde-Piton hydrothermal center (Vetarron, Marcelino and West) include quartz-tourmaline breccias and veinlets associated with copper oxides and sulphides. Such veins are commonly associated with copper porphyry systems in Chile.
- No drilling or geophysical surveys have been completed over the property.
The Pircas Verdes property covers a total of 2,015 hectares located in the eastern part of Chile’s fourth region of Coquimbo. It is some 20km west of the cluster formed by Antofagasta Minerals’ Pelambres mine (2,125 million tonnes grading 0.64% Cu / 180ppm Mo) and their similar size
Figure 1: Location of the
Within the district the
At Pircas Verde, the large areas of hydrothermal alteration, presence of tourmaline breccia pipes and veins, extensive copper anomalies and malachite staining on outcrops, and leached intrusive rocks that have not been explored are all excellent indicators of a potential Porphyry copper system in the area.
In the district there are numerous intrusive bodies of different ages that range from the late Cretaceous to the Miocene period intruding the volcanoclastic rocks of the Viñitas formation. Some of these pulses have generated large color anomalies which are represented by extensive areas of hydrothermal alteration (advanced argillic, argillic, phyllic and propylitic), which in some cases are accompanied by mineral occurrences.
Figure 2: Regional map of the
Figure 3: Target areas identified on the Pircas Verde project. Should the age dating confirm the host rocks are similar age to Pelambres / El Pachón, the extensive alteration zones at Pircas Verdes are expected to become much more significant with respect to their prospectivity for a major deposit
TARGET PITONES: Extensive zone of hydrothermal alteration exposed over an area of 1,500 x 800 meters, the zone presents a strong oxidation and leaching of the host rock. This target could potentially represent the upper, leached part of a porphyry copper system. The area is characterized by anomalous copper values in rock.
TARGET PIRCAS VERDES: Strong stockwork of quartz drusiform veinlets with presence of relict sulfides of leached copper veinlets with halos of sericite. These veinlets have a density of between 40 to 60 veins per meter showing a high intensity of alteration. The area of intense veinlets extends for 600 meters X 450 meters where it can be observed in outcrop.
TARGET WEST VETARRON: Polydirectional tourmaline veinlets in a coarse-grained intrusive (monzodiorite), also aplitic porphyry with abundant tourmaline rosettes outcropping in the contact zone between the intrusive and volcanoclastic sequence, accompanied by oxidized copper mineralization. Structurally controlled zone of quartz-tourmaline veins with copper mineralization. 25 to 30 meters wide structural corridors have been traced for 300 meters along strike and show development of minor lateral stockworks with oxidized copper content.
TARGET MARCELINO: Drusiform quartz veins with preferential orientation N60°E, cutting the volcanoclastic sequence. The veins range from 1 cm to 1 m with copper content. They are generally oxidized with minor remaining sulfides of chalcopyrite with gold and molybdenum. The strong veinlets develop brecciated areas of 70 meters wide and shows an increase in the persistence of veins and copper content towards the south.
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The scientific and technical information in this news release has been reviewed and approved by Mr.
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Cautionary Note Regarding Forward-looking Information
This press release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Forward-looking information includes, without limitation, regarding the prospectivity of the Project, the mineralization of the Project, , the Company’s ability to explore and develop the Project, the Company’s ability to identify potential acquisitions, the Company’s ability to complete acquisitions and the timing thereof and the Company’s future plans. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. Forward- looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of
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Figure 1
Location of the Pircas Verde Project
Figure 2
Regional map of the Pircas Verde Project area, showing nearby operations and deposits
Figure 3
Target areas identified on the Pircas Verde project. Should the age dating confirm the host rocks are similar age to Pelambres / El Pachón, the extensive alteration zones at Pircas Verdes are expected to become much more significant with respect to their prospectivity for a major deposit
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