Alturas Defines New Disseminated Gold Target at Its Chapi Chapi Copper-Gold Project, Peruadmin
Alturas Minerals Corp. report that it has defined a new gold-in-soils anomaly greater than 1.1 by 1.1 kilometers in dimension within its Chapi Chapi copper-gold project in southern Peru. The center of the anomaly is situated to the southeast of a major northeast-striking copper-gold corridor previously defined over oxidized skarns within the property and reported previously in a press release dated September 4, 2008.
Miguel Cardozo, President & CEO, commented “Further systematic soil geochemical sampling has expanded the gold-mineralized footprint of the mineral system in the Chapi Chapi project and we are very encouraged by the size and strength of this new disseminated gold target. We interpret this annular-shaped gold anomaly as a possible leached cap over a concealed copper-gold porphyry system. The anomaly remains open to the east and to the south. We are continuing with the compilation of detailed mapping and geochemical data generated by the 2008 program with the aim of defining drilling targets.”
The new gold-in-soils geochemical anomaly (“Huarajo” anomaly) lies entirely over fractured and limonitized sandstones which are cut by monzonite dykes and breccia zones. The anomaly is defined by the +50 ppb (0.05 grams/tonne) gold contour and values locally attain up to 2.63 grams/tonne gold. The gold anomaly is also broadly coincident with strong anomalies in other elements such as arsenic and antimony. Copper values are in general strongly depleted, however isolated outcrops of copper carbonate minerals have been located within the fractured sandstones. Representative bedrock geochemical sampling (21 samples) over the area of the soil anomaly has returned gold values that average 0.25 grams/tonne, with a peak value of 1.15 grams/tonne.
In addition, the recent soil geochemistry sampling has extended the projected strike of the northeast-striking copper-gold anomaly over magnetite skarns (the “Chapi Chapi Corridor”) covered in an earlier press release dated September 4, 2008 from 1.30 kilometers to over 3.00 kilometers in length.
The 6,903 hectare Chapi Chapi project in the department of Apurimac in southern Peru hosts a large copper-gold-molybdenum skarn system hosted by Cretaceous limestones and quartzites cut by dioritic to monzonitic stocks. The limestones are part of the same unit that hosts large skarn deposits in the Apurimac-Cusco porphyry-skarn belt, such as the Tintaya and Las Bambas copper-gold skarn projects of Xstrata and the quartzite unit hosts an important oxide copper resource at the nearby Antilla project of Panoro Minerals, situated some 20 kilometers to the west.
The Chapi Chapi property block is immediately adjacent to Alturas’s Utupara copper-gold project and together the two projects comprise a larger joint venture of Alturas with Minera IRL Limited, a company listed on the London Stock Exchange (“IRL”). Details of the tenure and terms of the joint venture agreement can be found in a previous Alturas press release dated February 28, 2008.
For maps and an extended summary of exploration results, refer to the Company’s website. http://www.alturasminerals.com/map-room.html