(Cu-Mo Porphyry and related breccia)
This is a Copper-Molybdenum porphyry Project with associated mineralized tourmaline breccia . It is located in the Canchaque district, Huancabamba Province, Piura Department, Peru. Land surface belongs to the local community. The area of study is located 950 Km to the NW of the Lima city. Access is excellent by plain and vehicle; all kind of logistics are available in the area of influence including water, electricity, labor, etc. The property is composed of 2 contiguous concessions forming a total surface of 413 Ha. The concesions lies on the western slopes of the Western Cordillera at an average altitude of 2,840 m.a.s.l. close to the site called Cerro Minas (Mines Mountain). Vegetation corresponds mostly to agriculture and pasture. The dry season runs from April to November and the raining season from December to March.
Regionally, the project is located in the metallogenic belt of the Majaz-Conga-Michiquillay depsoits. Geology comprises Paleozoic metamorphic and Cretaceous volcanic rocks being intruded by Late Cretaceous intrusive rocks (tonalite and diorite) forming copper-molybdenum porphyry related mineralization. Associated tourmaline breccia bodies yield copper-molybdenum-lead-tungsten mineralization. The observed hydrothermal alterations are silicification, argillic and quartz-sericite suggesting porphyry type mineralization.
Preliminary surface rock geochemistry shows values up to 1.0 g/t Au, 0.37% Cu, 0.2% Sb, 0.06% Pb.
The area is surrounded by similar breccia bodies out of the concessions which are currently being exploited by other mining groups with copper grades up to 2.5%.Further work will involve land permitting, detailed geological mapping, rock and soil geochemistry, geophysics and diamond drilling.