"The Geological Potential is Unlimited Unlimited •The Peruvian Andes hosts a diverse array of some of the worlds richest gold, copper, zinc, lead and silver deposits. •Advanced exploration programs with the potential for a world class multi-million ounce gold discovery. •Outstanding location for geology and development in one of the world’s prospective gold provinces. •Exploration concessions are located adjacent to world class deposits of Barrick and Newmont: •Barrick’s Lagunas Norte (also known as Alto Chicama) •Newmont’s part owned world-class Yanacocha mine"
"Geology Background The Cerro Curunday Project has the potential to be a multi-million ounce gold discovery. The deposit style is interpreted as a high sulphidation epithermal system in the top of the ridge line, while the lower slopes represent a transition to a low sulphidation epithermal environment with a strike length of 2.1km.
Initial Exploration work at Support Drilling •Extensive sampling campaign with a database of more than 800 samples including grab samples, rock chips, sedimentary stream and trenches/channels. •Epithermal gold mineralisation over a strike length of 2.1 kms •Channel/trench samples of 14.80g/t, 10.15 g/t and 7.5 g/t •Alteration and gold mineralisation extends south for 1 km. Prospect lies in a large gold mineralised system. •Metallurgical confirms gold in pervasively altered and oxidised rocks of the Cretaceous Chimu formation. •Tertiary age diorite-monzonite granite intrusions in Mesozoic marine sediments – CLASSIC GOLD/COPPER PORPHYRY"
PLUS
"Early Stage Exploration – Santa Rosita Concession •Strategic land holding areas of 1,000 hectares positioned to the south and east of the Barrick and Vale grounds at the northern end of the gold and copper rich Western Cordillera areas in the Peruvian Andes. •The association of Calipuy volcanics and granitic intrusions highlight that significant potential exists for the discovery of a new epithermal gold deposit in the license area •Mineralisation is associated with pyrite, chalcopyrite disseminated in veins of silica and gold is also found in quartz veins with sulphides. In addition, other sulphide minerals and alteration include arsenopyrite, geothite and limonite. •Could be another large target area !!!"
PRA Price at posting:
34.0¢ Sentiment: LT Buy Disclosure: Held
