The Peineta gold-silver project is located in the northern extension of the Miocene Belt in Chile's Region II.
The recent discovery of Gold Fields’ Salares Norte project shows that the Miocene mineralization event extends to a fertile, yet underexplored epithermal gold-silver belt north of the (old) Maricunga Belt up to the Peruvian border.
Project compilation work indicates that historic artisanal mining and exploration within the eastern portion of Region II has been primarily focused on high-grade, small-scale copper deposits. More antiquated workings appear to have mined bonanza grade silver as well.
A thin veneer of of volcanic cover blankets the area which would have limited the success of early prospectors and artisanal workers.
Work Completed and Results
Preliminary mapping and prospecting completed to date has documented gold-silver-copper-lead vein mineralization, mantos and skarnified volcanic units. It is unknown if all mineralization is related to a single event, or if multi-stage mineralization episodes occurred in the same host rock unit.
A total of 83 rock samples have been collected within the property. Highlights of available results include:
|Sample||Au g/t||Ag g/t||Cu %||Pb %||Zn ppm|
To date, early-stage exploration of the Peineta project has yielded encouraging results.
Low-sulphidation quartz veins, with bladed quartz textures (indicative of boiling) and calcite/barite lenses. Vein thickness ranges between 0.2 to 1.2 meters and these veins can be traced for up to 1,500 metres. Best assay results are associated with the NNW trending veins.
Early-stage quartz veins and breccias, with minor sulphides, form vein arrays collectively up to 20 metres wide. These veins can be traced for several kilometres and are recognized on Google Earth imagery as they contrast well with the host rock. In general these veins are oriented NE or NNE and to date have yielded lower precious metal values.
Favourable host rocks for mineralization include skarnified rocks with silica and epidote alteration and apparent replacement textures within favourable Ocoite (andesite with plagioclase megacrysts) units. Veins within these host rocks tend to be wider than the less permeable (dacitic) units.
Diego Charchaflie, P.Geo., is the qualified person, as defined by NI 43-101, who supervised work programs and preparation of the technical data presented herein.