Elementos is set to begin 5,000 meter diamond drilling program in mid October at its Tamaya Project in central Chile which is likely to be highly anticipated given the discovery of higher grade copper over significant widths from channel sampling including 10.4 meters at 2.35% copper.
Demonstrating Tamaya’s potential the project has been designated an iron oxide copper gold style deposit by a geological consultant. Results have been received for a further 147 channel samples from outcrops of the wall rock enveloping the high grade copper veins extracted historically.
Highlights include:
1. 10.4 meters at 2.53% copper including 8 meters at 3.14% copper from the Almagro Prospect;
2. 6.4 meters at 1.45% copper and 3 meters at 3.27% copper from the Campanil Prospect;
3. 4.9 meters at 1.04% copper and 3.5 meters at 2.38% copper from the Campanil Bajo Prospect and
4. 3.65 meters at 2.35% copper and 2.8 meters at 1.28% copper from the Tortolas Prospect.
The latest sample results which represent only the wall rock to the historic mining demonstrate the potential for significant tonnages of remnant copper mineralization remaining within the larger envelope around the high grade veins extracted historically. The lack of previous systematic exploration also implies additional potential for further unrecognized high grade veins.
Campanil and Almagro have consistent grades and widths along strike in the mineralized wall rocks. Although most of the high grade vein material is likely to have been mined to an unknown depth these areas are considered highly prospective for shallow, moderate grade mixed oxide and sulphide mineralization.
The mineralization at Campanil Bajo appears to be connected to the structures recently identified at Campanil and Almagro increasing the tonnage potential in this area. The Tortolas Prospect is located more than 500 meters lower than the main mineralized trend that outcrops along the summit of the Tamaya ridge. This indicates the minimum depth potential of the mineralized system.
Key factors defining Tamaya as an IOCG style deposit include:
1. The gangue mineral assemblage associated with the copper and gold mineralization contains elevated quantities of iron oxides;
2. The main copper sulphide ore mineral assemblage, including bornite and chalcopyrite;
3. The presence of coarse crystalline calcite in the Main Vein at Tamaya is typical of high level expressions of Chilean IOCG vein deposits and
4. The location of the Tamaya mining district within the southern end of the documented trend of Early Cretaceous age IOCG deposits in northern Chile.
Source - Proactive Investors Australia
(www.steelguru.com)
