Where should we drill Cascavel/Tintero Next?

You might remember the recent question: where would be a good place for OGX to drill next.  The Induced Polarisation (IP) anomaly at Eliseo seemed like a good bet for a number of reasons:

Eliseo

• This next picture shows Eliseo area on Google Earth with the IP survey near Drills ELD001 & 2:

Elisio with SJB'S drill hole

Finally I have got to the point ...here is where I would put a drill hole down if I had my choice:





Why did I choose here?

• The IP survey greatly reduces the risk ...we can see that the drill holes ELD001 & 2 passed through the edge of the IP anomaly, despite being drilled prior to the survey.
• IP (Induced Polarisation) has proven to be very effective at "lighting up" gold carrying mineralisation and my guess is that this will also be further proven at Antena / Xupe.
• There may well be more prospective locations in other areas such as Tintero, but I would like to see them with IP surveys and further geophysical surveys such as down borehole IP surveys.
• At this stage of our development, a 150m drillhole that tests the centre of this Eliseo North IP anomaly should give a very good bet based on risk / reward.
• This anomaly is about 5klm from GVC406, the 39m intercept @ 3.45 g/t:
• I have no doubt this IP anomaly area will be ground central for our "swimming pools".

Antena/Xupe

And similarly, the current drilling at Antena/Xupe is also de-risked by that IP survey detecting a broad anomaly which intersected an historical drill hole.  The recent drilling also reports a drill hole that has intercepted this mineralised zone, further confirming the anomaly:

1. ANT_001 and ANT_002 "both have shown the main alteration for the mineralised zone".  So this means that although they didn't hit gold, they hit the mineralerised zone that carries gold elsewhere.  This is important to me, because it means that the anomaly generated by the IP survey is still valid.  From the perspective of geological analysis, these two are not complete dusters as the zones of alteration will provide considerable information.
2. On the map showing the IP anomaly, 002 and 003 appear to be near the edge of the anomaly, and no gold mineraalisation may not have been unexpected. Can I please point out here that this map has inaccuracies because it is a 3D representation superimposed onto Google Earth.  I'm confident that I have Antenna South lined up and the orientation should be pretty good.  Also keep in mind that the drill holes are not vertical (positions are accurate).  Anyway ...it can still give us a reasonable concept of positioning.
3. Thanks to Salt for pointing out the excellent gold intercepts and other important aspects of the mineralisation of 004.  I can say that 004 should be of the order of 350m from Xupe ...and this might give us a bit of an idea of the mineralisation between them using the info from the report:

This is early days and sure we would have liked gold mineralisation in all holes ...but far from depressing IMHO.  Another interesting fact is that the IP anomaly covers around 10 sq klms in area.  Early days yet.

Leave you with a few images of the drill hole locations relative to the Induced Polarisation Anomaly (very approximate position).



and finally approximate location with reference to Cascavel and our ET area of circa $50Mil in Gold (visible if you squint a bit):



The conclusion for me is that there is excellent mineralisation (and altered minerals) here that is further proof of the proposed geological model.  The evidence shows that mineralisation will extend to the existing pit areas and will be shallower as it gets closer.  This is a very successful start to the drilling campaign and there is nothing to indicate that this resource will not be considerable in both grade and quantum.
   
Cascavel/Tintero

In the back of my mind I knew that the most prospective area to explore in terms of high grade was cascavel Tintero, but I was less confident because of the lack of IP data.  The paper presented in the Brazilian Journal of Geophysics seemed to be too complex (Tintero: IOCG, Cascavel: Orogenic etc overlapping etc) , anyway -decided to refresh my memory and re-look at the report a few days ago.

It turns out that while the report is complex, the result it has produced simplifies target selection:

This video is longer than I wanted ...so skim through it if you have something vaguely interesting to do






Cheers,

SJB

Not investment advice ...all care taken blah blah  etc