- Julian is contiguous with the El Mozo project that has been previously explored by Newmont Corporation,
Odin Mining International Inc. and IAMGOLD - High-sulphidation epithermal features found at El Mozo are also present at Julian
- Preliminary geological field mapping has identified two prospective zones
- 2020 exploration will delineate epithermal gold mineralisation for follow-up drilling
The Property is an exploration project comprising one concession of 2,312 hectares (ha.) located approximately 370 km south-southwest of
The Julian Concession is contiguous with the El Mozo project. The major structures and alteration zones mapped within the El Mozo project continue across the concession boundary into the Property. IBM (2005) and APEX (2014) characterize
The Property lies within the Inter-Andean Depression, a graben that separates the western Cordillera Occidental from the eastern Cordillera Real. The southern sector of the depression where the Property is located is dominantly filled with Tertiary to Quaternary volcanics. Epithermal gold mineralization at the Property is hosted within these volcanic-sedimentary sequences. The Property is located near major regional NE-SW and E-W oriented structures typical of the Collay-Shincata gold bearing mineralized belt that is part of the Alao-Paute mining district. This district hosts other high-sulphidation deposits such as
Epithermal gold mineralization was first discovered at the adjacent
The information with respect to the El Mozo deposit was taken from "A Technical Report on the El Mozo Property, Cochapata and Morasioma,
Exploration Program
Preliminary geological, structural, and hydrothermal alteration field mapping has identified two prospective areas within the concession which will be the focus of further exploration. A subsequent field program will perform detailed mapping and geochemical sampling of the prospective targets. The 2020 exploration program at the Property will focus on delineating prospective zones that may host epithermal gold bearing mineralisation to generate targets for a follow-up drill program. Additionally, the Oro X technical team will use ASTER remote sensing data to define other targets with high-sulphidation epithermal alteration related minerals. Extensive road cuts and minimal vegetation in the area will accelerate the fieldwork timeline.
Upon the successful receipt of fire assay and atomic absorption results from field samples, a detailed geochemical soil sampling program of prospective zones will be designed to identify drill targets. Regional magnetometry has also identified a NE – SW trending anomaly that extends from the El Mozo project through the Property that warrants further investigation. The goal of the 2020 exploration program is to generate prospective targets for a maiden drill campaign in 2021.
Qualified Person
Mr.
ON BEHALF OF THE BOARD
CEO & Director
Neither
Cautionary Statement Regarding "Forward-Looking" Information
Some of the statements contained in this news release are forward-looking statements and information within the meaning of applicable securities laws. Forward-looking statements and information can be identified by the use of words such as "expects", "intends", "is expected", "potential", "suggests" or variations of such words or phrases, or statements that certain actions, events or results "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements in this news release include statements in respect of the Company's exploration plans for the Property. Forward-looking statements and information are not historical facts and are subject to a number of risks and uncertainties beyond the Company's control. Actual results and developments are likely to differ, and may differ materially, from those expressed or implied by the forward-looking statements contained in this news release. Accordingly, readers should not place undue reliance on forward-looking statements. the Company undertakes no obligation to update publicly or otherwise revise any forward-looking statements, except as may be required by law.
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