THE DRILL SERGEANT: South America-focused gold and copper play Argentina Mining has identified a geophysical anomaly at its Cerro Blanco porphyry copper project in San Juan Province, Argentina.
Argentina Mining described the anomaly as a high chargeability zone (HCZ) identified by an Induced Polarisation and Resistivity (IP) survey, which the company considers to have the potential to be a large sulphide mineralised system.
Recent 3D modelling carried out by the company indicate that previous diamond drilling reached the margins of the HCZ.
The earlier drilling intersected wide zones of porphyry copper‐gold‐molybdenum mineralisation, recording a best result of:
– 108 metres averaging 0.20 per cent copper, 0.08 grams per tonne gold and 95 parts per million molybdenum from 233 metres.
The company said the latest result is consistent with its deposit modelling which suggests drilling had intersected a pyrite‐rich halo outside a potentially copper‐rich inner zone.
Argentina Mining has designed a program of three new diamond drill‐holes that will test the IP anomalism on three separate 200m sections.
Each drill hole is planned to be up to 700m to 750m deep with inclinations in the range of 75 degrees to 90 degrees.
The company has been encouraged by secondary copper mineralisation and other oxidation minerals that were exposed during the recent excavation for one of the drill pads.
This drilling has already commenced and is expected to be completed by mid‐October, with final assay results by November.
Argentina Mining managing director Eduardo Videla said that the HCZ target is highly promising and therefore the company moved immediately to drill test it to planned depths of up to 750m.
“This is a major development for Argentina Mining,” Videla said in the company’s announcement to the Australian Securities Exchange.
“Following the success of the initial drilling which confirmed porphyry copper‐gold‐molybdenum style mineralisation, we continued with the integration and interpretation of data from our drilling, detailed geological and alteration mapping, surface geochemistry, ground magnetics and the recently‐completed IP survey.
“Interpretation of the combined datasets provides a robust pointer to the target zone which may represent a large copper‐rich mineralised zone.
“This gives us confidence in the design and execution of the next round of over 2,000 metres of diamond drilling and dramatically enhances the potential for discovery of economic copper and gold mineralisation at the Cerro Blanco project.”