Laconia Resources confirms copper potential in Peru
THE DRILL SERGEANT: Laconia Resources (ASX: LCR) has received results of field reconnaissance undertaken by its consultant geologist Stephen McCaughey at the Huaco Cucho project, north of the company’s epithermal copper-gold-silver Rasuhuilca prospects.
Laconia said the field reconnaissance has confirmed geology and alteration assemblages with strong affinities to Porphyry Copper systems, adding the exposed alteration is indicative of deeper levels of typical Porphyry volcanic profiles.
The Huaco Cucho project is located within 10 kilometres to the north of Laconia’s 100 per cent-owned Rasuhuilca project and is within the area of a seven year option held by the company to acquire an indirect 80 per cent interest over 11 additional exploration licences.
Rasuhuilca and Huaco Cucho Projects, with the areas of 100%
Laconia concessions and the 80% Earn in Option concessions shown.
Source: Company announcement
According to Laconia’a ASX announcement, the Huaco Cucho project consists of four further distinct alteration zones.
These were previously recognised by Buenaventura Ingenieros SA, who were earlier explorers in the area and conducted limited work conducted at the Huaco Cucho project.
Laconia has plans to commence its first phase of diamond drilling at the Rasuhuilca project as soon as it has re4ceived the necessary exploration permitting approval.
The company explained the process of formal approval to undertake exploration drilling in Peru follows the completion of a DIA, which includes environmental considerations and community consultation and approval.
Once the approvals have been given, Laconia will undertake an initial phase of diamond drilling at the Rasuhuilca deposit.
This round of drilling will be aimed at providing infill information between levels, to upgrade the JORC resource to Indicated category.
The Rasuhuilca project drilling is planned to investigate new copper targets involving Española 1 and Fortuna, plus at the known gold and silver targets the company has identified.
Laconia is confident there is potential to grow the resource base outside of its current boundaries through further detailed exploration.
A further four drill platforms at the Huaco Cucho project anomalies are also designed for inclusion in the DIA to be submitted in coming weeks, which the company says will afford it the flexibility to drill test the new porphyry copper targets as soon as surface mapping and geochemical sampling is complete and interpreted.
All exploration field work and timeframes are dependent on the timing of community and government approvals.
Email:
info@laconia.com.au
Website:
www.laconia.com.au