540,000 Has of riches for you of Mining Properties Available for Joint venture with Formicruz.
The Argenta project is situated in the Cerro Primero de Abril metallogenic district, adjacent to Martha silver mine, in the southwest of the Deseado Massif. Fomicruz defined the exploratory targets by integrated analysis, including re-interpretation of geophysics and geochemistry from exploration work conducted by a previous holder of the mining rights (Compañía Minera Polimet and Coeur Argentina). After that, exploratory works were carried out including geological mapping, rock chip sampling and the completion of more than 2000 m of diamond drilling distributed in 6 sectors of the project. Assays from several boreholes returned anomalous concentrations of Au and Ag in the veins. Given the geological framework of the area and its important background, this project deserves to continue with a new stage of detailed exploration to determine its potential.
LA JUANITA PROJECT
The La Juanita project is located in the East part of the Deseado Massif at about 30 km north of Don Nicolas Au-Ag mine. Fomicruz has focused the exploration efforts in the eastern sector of the project, where several quartz veins were detected. Exploratory work included geological mapping, rock and lag geochemical surveys, a magnetometric survey, rock sampling for determination of alteration minerals, and the drilling of eight diamond boreholes. The two largest veins show anomalous concentrations of gold. Fomicruz geologists think that the eastern sector of the project shows potential for discovery of more mineralized rocks at depth in the known veins, as well as for discovery of new veins, that may be covered and masked by the young gravel plains. In addition, the western sector, which is almost unexplored by the Company, conveys potential for discovery of mineralized rocks in rhyolitic volcanic domes and breccias.
BUENA ESPERANZA PROJECT
Buena Esperanza project comprises two mining properties with a total area of 5000 has, and is located at about 35 km WSW of Cerro Moro Au-Ag mine. The mineralization of Au and Ag occurs in narrow quartz veins. The most important sector is known as Veta del Dique, which is a NNW- trending strip that includes a main vein (Veta del Dique) and a sub-parallel secondary vein. Intensive exploration work was carried out in this main structure, and two ore shoots with high concentrations of Au and Ag were delimited. Based on this, it can be inferred that the Veta del Dique area represents a Au-Ag mineralized portion of a low sulfidation epithermal system, with high potential for finding ore shoots.
CERRO CHATO PROJECT
The Cerro Chato project is located in the northeastern sector of Santa Cruz province, at about 35 km east of Don Nicolas Au-Ag mine. It consists mainly of two quartz veins of considerable extension and width, and other minor veins located around these structures. Fomicruz has carried out preliminary survey work, detailed mapping, sampling chips and a drilling program. Chemical assays of surface rocks returned anomalous Au and Hg concentrations. The boreholes confirmed the continuity of the veins to a vertical depth of at least 250 m, with low concentrations of gold and silver. However, the geochemistry of the boreholes remains incomplete, since much of the drill cores were not sampled at the time of drilling, even many intervals containing abundant veinlets of quartz and sulfides. Therefore, a detailed systematic exploration program would be convenient for this project to define new targets.
LA LEONA PROJECT
La Leona project, located in the center-east of the Deseado Massif, covers a total area of 3000 ha. The geological features of interest include quartz veins, stockworks, and volcanic dikes and domes, but also granitic and pyroclastic rocks with disseminated pyrite and quartz veinlets. Fomicruz carried out exploration work at surface, including the detailed mapping of several veins and collection of more than 200 surface sample, and drilling of 16 diamond boreholes. Surface samples show high concentrations of precious and base metals. In the other hand, the samples extracted from boreholes, did not show so widespread high concentrations of precious metals as at surface; but, they returned strong gold anomalies. This possible decrease in the precious metals concentrations with depths still must be investigated; this should include a confirmation of core sample assays, since samples from boreholes were analyzed by Fomicruz’s in-house facilities, in contrast to the surface samples, which were analyzed by an external certified laboratory; but also, a possible supergene enrichment should be tested.
SAN PEDRO PROJECT
San Pedro is located in central part of the Deseado Massif and comprises 7200 has, with several groups of veins of interest, with varied length and width. Since 2001, Fomicruz has explored the project and has detected numerous veins located in at least 8 areas, with a total length of more than 8000 m meters of outcropping veins. The characteristics of the veins and the results of the samples indicate that this area corresponds to the upper parts of a hydrothermal system. The size of this project and its large number of veins suggests that an abundant amount of fluids traveled through the epithermal paleo-system, which make us think that if part of the system was mineralized, large volumes of mineralized material can be found at depth.
(9400) Río Gallegos
Santa Cruz - Argentina
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