To date, the Phase IV program has completed 28 drillholes for 19,058m. Assay results have been recently received from an additional nine drillholes totaling 6,179m, specifically from drillholes CHDH22- 60 through to CHDH22-65, and CHDH23-66 to CHDH23-68 (see Table 1 below). The drilling campaign is ongoing, with two drillholes currently being drilled and two more awaiting assay results. To support the continued progress of the program, two drill rigs are currently in operation.
Highlights are listed below, along with the accompanying figures.
Chinchillones Second Porphyry Cu-Au-Ag-Mo
The drilling results of these additional nine drillholes completes the program which commenced in 2022 and includes the first three drillholes of the 2023 program. These newly drilled holes have confirmed the presence of mineralized intrusive bodies hosting porphyry-style Cu-Au-Mo-Ag at depth, beneath the high sulfidation mineralization intersected near surface.
The results from CHDH22-62 are highly significant as they reveal the presence of a Cu-Au-rich intrusive body with tonalitic composition that differs both compositionally and texturally from the principal dioritic porphyry Cu-Mo body at Chinchillones. This auriferous porphyry traverses a larger mineralized porphyry Cu-Mo body at depth, and importantly, the mineralized porphyry column, which consistently exhibits high Cu grades, is open to at least 850m. Near the surface, an affiliated alteration- mineralization footprint is present, characterized by an extensive zone of advanced argillic alteration (pyrophyllite-kaolinite-silica-alunite) that trends broadly NNE, with a strike length of at least 700m and 450m width.
Drillholes CHDH22-62 and CHDH22-57 now validate the unequivocal presence of a second tonalitic porphyry, which is associated with intra-mineral dacitic bodies. The central porphyry at Chinchillones is believed to be an earlier phase, occurring as roof pendants and angular clasts to the tonalite porphyry- associated dacitic volcanic unit. This provides unequivocal temporal separation between the two productive porphyries, further supporting the interpretation of distinct mineralizing events.
Significant porphyry Cu-Mo-Au mineralization intervals for drillhole CHDH22-62:
- 518m at 0.34% Cu, 0.13 g/t Au, 4.40 g/t Ag, and 33ppm Mo, from 330m (open at depth) including 86m at 0.94% Cu, 0.38 g/t Au, 5.56 g/t Ag, from 746m highlighting higher-grade gold and coincident copper mineralization.
In 2023, a second, more powerful drill rig was mobilized to the project to complete deeper drillholes (>1,000m) in order to test and extend the porphyry mineralization of several drillholes that ended in mineralization.
Near the surface, a high sulfidation system is present, which is characterized by pervasive sulfidic replacement of host rocks, massive sulfidic pods/lenses, pervasive sulfidic disseminations, and sulfides in-filling hydrothermal breccia matrix. The sulfides comprise of varying amounts of pyrite, chalcopyrite, covellite, tennantite, enargite, chalcocite, digenite, bornite, sphalerite, galena, calaverite, and hessite.
The drillhole CHDH22-64 has further expanded the extent of Cu-Mo mineralization encountered by the previously reported drillholes (see press releases dated
- 311m at 0.19% Cu, 0.02 g/t Au, 2.36 g/t Ag and 513ppm Mo from 560m (open at depth) including 75m at 0.15% Cu, 1,095 ppm Mo and 0.19 ppm Re from 796m highlighting higher- grade molybdenum and coincident rhenium mineralization.
This drillhole terminated in an intra-mineral hydrothermal breccia, which notably contains fragments of angular to sub-rounded clasts of both tonalite and diorite porphyries. In the last 200 meters, there is remnant potassic alteration with moderate intensity phyllic overprint. Notable features include the presence of stockworked quartz-molybdenite-pyrite-chalcopyrite veinlets, porphyry-related B and A veins, and K-feldspar veinlets.
Drilling has identified a NNE-trending mineralized corridor that is similar to the delineated mineralization corridors at Chinchillones. The Company plans to continue with exploration and drilling in this target area to confirm the presence of mineralized intrusive bodies at depth. For 2023, the company has approved approximately 2,000 meters of drilling, which will consist of 3 to 4 drillholes.
New Target to the NE of Chinchillones
In late 2022, the Company identified a new target area measuring 1 km x 1 km located NNE of the principal Chinchillones system. Two scout drillholes, CHDH22-65 and CHDH23-67, were completed in the area. The target area is characterized by a 1.3 km-long coherent conductive anomaly that is at least 400 m wide and covered by the Agua Negra sedimentary sequence, comprising quartzites and shale, and traversed by small andesitic/dacitic bodies hosting porphyry-related B- and A-veinlets. The drillholes intersected shallow andesitic porphyry hosting abundant A-B veins containing chalcopyrite- molybdenite. The results are highly encouraging and interpreted to indicate the presence of sill-like mineralized intrusions, possibly emanating from a larger body to the SW.
General outlook and exploration implications
The results from Phase IV exploratory activities, together with previous drilling phases, have expanded the Chinchillones porphyry-epithermal system, now thought to encompass at least 2 km x 2 km footprint, and open at depth exceeding 850m (limit of previous drilling). Drilling has demonstrated superimposed broad zones of polymetallic Zn-Pb-Cu-Au-Ag mineralization hosted in linear hydrothermal breccia bodies of both epithermal high sulfidation and intermediate sulfidation affinities. These breccia bodies are believed to be fed from at least two separate porphyry centers.
The continuity, and geometry of high-grade Cu-Au mineralisation intersected in CHDH22-62 will be further tested with >1,000 m drillholes. Additionally, the transition zone between the near-surface high- sulfidation mineralization and the Cu-Au porphyry will be further evaluated.
Table 1 - Summary of Analytical Results | ||||||||||
Hole ID | From | To | Length | Cu | Au | Ag | Mo | Pb | Zn | Re |
(mt) | (mt) | (mts) (*) | % | g/t | g/t | ppm | ppm | ppm | ppm | |
CHDH22-60 | 270 | 312 | 42 | 0.02 % | 0.11 | 6.01 | 2 | 58 | 319 | |
CHDH22-61 | 38 | 72 | 34 | 0.01 % | 0.08 | 18.61 | 1 | 333 | 1153 | |
CHDH22-62 | 206 | 254 | 48 | 0.20 % | 0.23 | 5.58 | 20 | 67 | 636 | |
272 | 290 | 18 | 1.42 % | 0.22 | 12.71 | 4 | 182 | 781 | ||
330 | 848 | 518 | 0.34 % | 0.13 | 4.43 | 33 | 44 | 568 | ||
Incl. | 746 | 832 | 86 | 0.94 % | 0.38 | 5.56 | 2 | 18 | 117 | |
CHDH22-63 | 10 | 78 | 68 | 0.15 % | 0.04 | 2.69 | 170 | 32 | 66 | |
100 | 266 | 166 | 0.09 % | 0.04 | 6.25 | 241 | 276 | 465 | ||
CHDH22-64 | 82 | 140 | 58 | 0.14 % | 0.11 | 17.07 | 12 | 1129 | 4781 | |
216 | 300 | 84 | 0.07 % | 0.11 | 9.84 | 47 | 860 | 2285 | ||
560 | 871 | 311 | 0.19 % | 0.02 | 2.36 | 513 | 67 | 526 | ||
Incl. | 796 | 871 | 75 | 0.15 % | 0.03 | 1.99 | 1095 | 27 | 477 | 0.19 |
CHDH22-65 | 26 | 56 | 30 | 0.06 % | 0.11 | 1.89 | 23 | 59 | 231 | |
CHDH23-66 | 19 | 220 | 201 | 0.10 % | 0.06 | 1.51 | 63 | 70 | 254 | |
621 | 630 | 9 | 0.63 % | 0.26 | 183.46 | 268 | 357 | 3246 | ||
822 | 830 | 8 | 0.82 % | 0.21 | 36.20 | 118 | 55 | 1136 | ||
CHDH23-67 | 28 | 214 | 186 | 0.15 % | 0.03 | 1.50 | 331 | 22 | 93 | |
262 | 372 | 110 | 0.11 % | 0.03 | 2.51 | 426 | 55 | 203 | ||
CHDH23-68 | 62 | 70 | 8 | 0.14 % | 0.23 | 2.69 | 4 | 26 | 74 | |
References: | ||||||||||
(*) Intervals reported in the above table are not true thicknesses |
Quality Assurance/Quality Control
All core samples were submitted to the ALS Global Laboratories in Mendoza, Argentina for preparation and analysis. All samples were analyzed for Au by fire assay/ AA finish 50g, plus a 48-element ultra- trace four acid digest with ICP-MS and ICP-AES finish. Minsud followed industry standard procedures for the work with a quality assurance/quality control (QA/QC) program. Field duplicates, standards and blanks were included with all sample shipments to the principal laboratory. Minsud detected no significant QA/QC issues during review of the data.
Mr.
Current exploration activities on the
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Minsud is a mineral exploration company focused on exploring its flagship Chita Valley Cu-Mo- Au-Ag- Pb-Zn Project, in the Province of San Juan, Argentina. The Company also holds a 100% owned portfolio of selected early-stage prospects, including 6,000 ha in
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