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GOLD MINE IN ANDACOLLO, NEUQUEN PROVINCE

PROJECT 073

VIEW OF THE ZONE

EXPLORATIONS REPORT

DRILLING CAMPAIGN

 

2011 – 2012 m3

 

MAGSA Exploration Group:

Lic. Tamborindeguy Melisa.

Dr. Strazzere Leonardo.

In the following report are exposed the prospection tasks performed with its results and exploration plan in the Project during the period September 2011- January 2012, through a geological map,  1:200 scale, sampling through trenches, making and sampling of ditches, and a sampling inside the gallery.

LOCATION

12 hectares.

The Project is located at 14 km of Andacollo Locality going on Provincial Route Nº 43 towards Chosmalal, accessing by the Post La Primavera.

The studied Project comprises the coordinates among the following points, in the System Gauss Kruger, Datum Campo Hinchauspe:

 

X = 2354913.23 Y = 5876257.80

X = 2354913.73 Y = 5876068.83

X = 2355510.63 Y = 5876068.31

X = 2355510.14 Y = 5876257.28

DRILLING CAMPAIGN

The Drilling Campaign performed was intended to confirm the continuity in the deep of the structure that is in the surface. There is a possibility of perform calculation of inferred resources in the Project. (See Table 1)

 

The drilling program was performed by the firm Mining Services Lozano & Ecominera, supervised by MAGSA staff.

 There were drilled a total of 1866.50 meters of drilling, 944.50 m of  diamantine made by Ecominera and 922 m of reverse air drilled by Lozano, starting on November and ending in January.

DRILLING PROGRAM

The detailed sampling of surface realized by trenches and ditches gave relevant mineralization values as 1.80 @ 11.98AuEq, 4.15 @ 16.33AuEq, and 1.25 @ 10.92AuEq, reaching a total of 60 samplings mainly over the structure and a sampling on the wallrock.

TABLE 1
DRILLINGS

On the drilling campaign in 2011-2012 made by MAGSA Explorations there were drilled a total of 1866.50 meters of drilling, 944.50 m of  diamantine made by Ecominera and 922 m of reverse air drilled by Lozano, starting on November and ending in January.

The results obtained in structure interceptions in the deep gave an average thickness of 2.00 meters with an average ore of 4.00 AuEq, showing extreme values in different points of the structure, for example, 3.00 m @ 9.48AuEq, 3.00m @ 9.40AuEq, 1.34m @ 8.80AuEq, 1.00m @ 7.69AuEq and 3.00m @ 6.12AuEq.

DISSEMINATED

Through chemical analysis of the drilling sampling it could be determined a mineralized zone disseminated hosted in the wall rock, built by basic-intermediate porphyries with pervasive porphyries alteration, intercepting areas with values as: 23.00m @ 2.42AuEq, 18.30m @ 1.58AuEq, 23.44m @ 1.10AuEq and 33.15m @ 1.01AuEq.

MINERALIZED STRUCTURE
The potential estimation of inferred resources is 34,043 Oz Au, with a tonnage of 131,846 Tn and a cut-off grade of 5 gr/Tn of AuEq.
PROJECT GEOLOGY
LITHOLOGY

The study area is a zone with a slight folding and a soft geological dip varying between 15º and 30º in the SW and in the NE, without important planar fractures that cause a structural control to the area.

Watching the regional geology, it can be seen that the rocks that surge in this sector represent a mixed bimodal volcanic sequence with a scarce participation of sedimentary rocks.

Towards the North part of the Project are manifested the acid exponent of that sequence, represented by rhyolitic limestones, crystal acid limestones with a high % of quartz, breaches and ignimbrites.

The Project area has a homogeneous lithology, without big changes, in the zone of prospection and exploration it can be seen a series of basic to intermediate volcanic rocks that cover all the sector. The series presents a track towards N117º and a geological dip of 11-20º SSW.

PROJECT ALTERATION
  • The wall rock of the structure shows an alteration level that varies in its special disposition, not in the type of alteration, prevailing the prophylitic alteration in all sector.

  • However it is present in the most part of the wall rock, and not all mineralization values are relevant, it is related with the mineralization.

  • In sectors around the structure area the occurrence grows, and it is presented in little veins formed by chlorite + epidote + quartz + pyrite, chlorite little veins + epidote + quartz + carbonates, chlorite and epidote dissemination and presence of  "fluid–rock interaction" with quartz compounds + pink carbonates + epidote + chlorite.

  • The oxidation and argilization are present in the structure being pervasive in all the line, being almost the totality. Oxidation manifests with the presence of abundant limonites and hematites, in a minor proportion goethite, and the pervasive argilization with the presence of yellowish and grayish plastic clays. Both alterations are present in the surface.

  • The silicification is selective and is found in a low grade in the structure and in the wallrock.

MINERALIZATION

In the Project, the mineralization manifests in two forms, type vein-fail and type disseminated:

 Mineralization vein-fail type

It manifests as a lineament with a thickness of 1-1.5 meters. The structure intercepts results obtained in the deep gave an average of thickness of 2.00 meters with an average ore of 4.00 AuEq, showing extreme values in different points of the structure.

Disseminated mineralization

They manifest in basic-intermediate porphyry with scarce apparition of small banks of fine and very fine sandstone, with the presence of stratification. It has a thickness approximately between 20-25 meters. No dissemination of sulfide in the porphyries is shown, neither in the small lens of sandstone.

The analysis have shown interesting values as: 23.00m @ 2.42AuEq, 18.30m @ 1.58AuEq, 23.44m @ 1.10AuEq and 33.15m @ 1.01AuEq.

In the Project, the mineralization manifests in two forms, type vein-fail and type disseminated:

Mineralization  vein-fail type

It manifests as a lineament with a thickness of 1-1.5 meters. The structure intercepts results obtained in the deep gave an average of thickness of 2.00 meters with an average ore of 4.00 AuEq, showing extreme values in different points of the structure.

Disseminated mineralization

They manifest in basic-intermediate porphyry with scarce apparition of small banks of fine and very fine sandstone, with the presence of stratification. It has a thickness approximately between 20-25 meters. No dissemination of sulfide in the porphyries is shown, neither in the small lens of sandstone.

The analysis have shown interesting values as: 23.00m @ 2.42AuEq, 18.30m @ 1.58AuEq, 23.44m @ 1.10AuEq and 33.15m @ 1.01AuEq.

ECONOMICAL GEOLOGY

Vein-fail

The structure is a lineament with an intense structure of traditional mining that is known in the surface and in satellite images; a lineament that obliquely cuts the hill can be shown. The East tunnel is located at 1325 meters height, the West tunnel at 1420 meters height, going through heights up to 1460 meters.

The general track of the structure is N 85˚-90˚, and it has been constant all the run, because there is no fail and/or slipping that alters it. The inclination in the surface is 67˚-70˚SSW, it is vertical in the deep and in some sectors it seems to invert the direction of its geological dip in scarce degrees. Also, the structure in the deep is formed in two mineralized branches. The total longitude that surges is 600 meters.

Disseminated

The disseminated of the vein-fail that is located forming an “halo” around the structure. It is manifested between the two branches of the structure and surrounding.

It is related at basic-intermediate porphyries level with strong porphyte alterations, in zones absolutely pervasive forming piles all composed of epidote-chlorite.

As it is dependent of a vein mineralization, its track is almost identical to the one of the structure, east-west.

As drillings are directed to the structure and were not in a great deep, the base of the disseminated mineralization is not known. Assuming the geological dip will match with the one in the basic porphyrite levels, 11˚-20˚ towards SSW and to parallel tracks to N117º-N120º.

Internal morphology and structure of the module

Veining Fault

 The lining is formed by a veining-fault which has in the surface area a fault leaching of approximately 0.80-1.00 meters, with a group of sulfurs with stockwork of quartz and clay-fault, with 0.50-0.70 meters deep, with a total deep of  1.20-1.50 meters.

In some drilling samples it was seen a structure formed by a vein of quartz with a great percentage of sphalerite up to a 40 %, scarce galenite (<5%) and pyrite (<5%). The group of sulfurs is random. It has only been intercepted in 3 drilling coming with and hydrothermal breach and small stockwork of pure quartz.

QUALITY CONTROL

In order to have a control over the results given by the Chemical Analysis Lab ALS and to warranty the values of grades obtained a Quality Control was carried out.

The following procedure was defined:

In a total of 75 samples at least are included:  

  • 3 Targets

  • 1 Thick Duplicate (#10)

  • 1 Thin Duplicate (#200)

  • 4 Standard

 The Standard type selection was made in function of the previous knowledge in the zone to be evaluated, having into account that the values are similar to the ones already evaluated. For the whites it was used crystal quartz certified by external labs.

RECOMMENDATIONS
  • To realize a more dense sampling in the wall rocks in nearby zones.

  • To verify the continuity of the mine to the west.

  • To perform drillings in none explored zones in deeper to densify the information and to expand the disseminated mineralization zone.

CONCLUSIONS

Based on the information obtained in the prospection and exploration campaign, we arrive to the following conclusions:

  • The lining is a structure of the vein-fail type. In its surface it is manifested with a track N 85-90 and a slope 67 SSW, in deep, with an homogeneous track in surface but a verticality can be shown.

  • Its deep is comprehended between 1.50 and 2.00 meters, it changes in deep.

  • The mineralization is been shown according to chemical analysis, it fluctuates, that is shown by values over 30 ppm Au, that are presented only in isolated points.

  • The lining goes through a formation built by basic-intermediate porphyries that in some areas contains mineralized small veins parallel to the main structure that are not continuous.

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