Projects
PROPERTY TYPE
Polymetallic vein system
STATUS
Exploration
LOCATION
Located in the Chilean Iron Belt, approximately 130km northeast of La Serena
SIZE
8,348 hectares
EXPLORATION STAGE
Early-Stage exploration
TENURE
53 exploitation concessions
The Amalia Norte property is a polymetallic vein system located within the Chilean Iron Belt. It is situated approximately 130 kilometers northeast of La Serena and around 138 kilometers southwest of Vallenar. The property comprises 53 concessions, covering an area of 8,348 hectares.
The project benefits from all-year-use roads that connect it with La Serena. This strategic connectivity with La Serena and the Coquimbo port guarantees efficient and expeditious access to essential resources, personnel, as well as port and airport facilities.
Previous exploration conducted at the Amalia Norte Property includes geological mapping, surface sampling, limited geophysics, and 32 drill holes totaling 3,172.90 meters in length. The depth of the drill holes ranges between 15.70 and 300 meters, with a success rate of 37.50%. Best results from the drilling include: 7.10m @ 14.50gpt Au, 1.60% Cu; 6.20m @ 1.90% Cu; and 6.20m @ 1.90gpt Au, 14.70gpt Ag.
The property is primarily underlain by Upper Cretaceous andesitic to dacitic volcanics and breccias, which exhibit an andesitic composition. These volcanic units have been intruded by younger dioritic and dacitic porphyries. Additionally, hydrothermal breccias have intruded the entire lithological package, indicating the presence of significant hydrothermal activity. Quartz veins are predominantly hosted within the volcanic rocks themselves or occur at the contact between the volcanic units and the upper Cretaceous intrusions.
The mineralization observed at Amalia Norte displays a distinct structural control, primarily following a north-northeast (NNE) trend. This mineralization is characterized by the occurrence of quartz-carbonate veins and breccias enriched in copper (Cu), gold (Au), silver (Ag), zinc (Zn), and lead (Pb). Associated with these veins and breccias are minerals such as pyrite, chalcopyrite, hematite, goethite, and manganese oxides.
Hydrothermal alteration in the area exhibits an initial stage of epidotization, primarily affecting the volcanic rocks. Additionally, significant silicification is observed at the mineralized structures. This alteration is accompanied by outward argillic alteration.
Final Remarks
The property is strategically positioned approximately 130 kilometers north of the city of La Serena. It benefits from its proximity to the Pan American Highway, ensuring convenient access to transportation infrastructure. The property is also well-served by nearby port facilities, an airport, local water sources, and electrical power grid, providing essential logistical support for exploration and potential mining operations.
While a comprehensive survey of the entire property is yet to be undertaken, the work conducted thus far has yielded promising results. Sufficient exploration activities have been carried out to ascertain that the property holds significant economic potential, particularly for polymetallic veins rich in copper (Cu) and gold (Au).
To comprehensively evaluate the mineralization and determine its economic viability at Amalia Norte, additional exploration efforts are necessary. The integration and interpretation of both existing and new data will be crucial in gaining a clearer understanding of the property and identifying additional mineralized centers.
The next recommended phase of exploration should involve a range of activities aimed at enhancing the understanding of the property. Detailed geological and structural mapping will provide valuable insights into the geological setting and structural controls of the mineralization. Mineralogical and geochemical studies and geophysical surveys can assist in identifying mineralized zones and drill targets.
PROPERTY TYPE
High sulphidation epithermal gold-silver project
STATUS
Available for partnership
LOCATION
Located within the world-class Paleocene-Lower Eocene Metallogenic Belt of northern Chile
SIZE
81 hectares
EXPLORATION STAGE
Advance-Stage exploration
TENURE
31 exploitation concessions
The Soledad property is an advance-stage high sulfidation epithermal gold-silver deposit located within the world-class Paleocene-Lower Eocene Metallogenic Belt of northern Chile. It has a history of exploitation of high-grade gold and silver veins.
Soledad is located 183km southeast of Antofagasta, and about 100km northeast of Taltal.
The project comprises 31 exploitation concessions and cover 81 hectares in the Guanaco Mining District, III Region of Atacama.
The Guanaco Mine is the nearest mining operation to the Soledad property and is located immediately to the northeast of the Andean Belt property. Austral Gold Limited is the owner of the Guanaco Mine with reserves of 277,000 ounces of gold (Au) and 1,800 ounces of silver (Ag).
Energy and water provision are available in the region. An all-year-use road connects the project with the city of Antofagasta, providing fast access to supplies, personnel, airport and deep-sea port facilities for shipping.
Local geology is characterized by Paleocene dacitic and andesitic tuffs and andesitic lava flows. Additionally, dacitic domes that formed simultaneously with the volcanic activity have intruded the volcanic rocks.
The stratigraphic column at the project area exhibits a prominent sequence of volcanic rocks, primarily characterized by the presence of andesitic tuffs at its base. These andesitic tuffs have a substantial thickness, reaching approximately 200 meters. Above the andesitic tuffs there are fragmental pyroclastic rocks of dacitic composition.
Calc-alkaline dikes intruded the pyroclastic rocks. To the eastern side of the claims, specifically in the Eureka-Palermo sector, andesitic lava flows were deposited, overlying the previously described pyroclastic rocks. Hydrothermal breccias and porphyritic intrusives complete the lithology of the property.
Quaternary alluvial deposits overlay a significant portion of the Soledad property.
Mineralization and alteration observed at Soledad correspond to an Au-Ag-bearing high sulfidation epithermal system. Veins and ledges are hosted within Paleocene volcanic rocks.The mineralization is characterized by the occurrence of native metals (Cu, Au, and Ag), electrum, pyrite, chalcopyrite, chalcocite, enargite, pyrrhotite, and hematite.
The alteration is dominated by intense silicification in the proximity of the veins, with an outward transition to advanced argillic alteration assemblage. Silicification and advanced argillic alteration with pervasive vuggy silica are intimately related to the auriferous (minor Ag and Cu) veins. The main alteration mineralogy is composed of alunite, quartz, pyrophyllite, kaolinite, and other clay minerals.
The structural setting shows first-order structures that can be further categorized into two domains. The western domain encompasses a series of subparallel north-northeast faults with a westward dip. On the other hand, the eastern domain is characterized by north-northwest to northwest trending structures, which have uplifted both intrusive and Cretaceous rocks. Finally, transpressive structures are responsible for generating east-northeast folding of volcanic strata and the orientation of the primary mineralized structures within the region.
Exploration upside
Despite extensive historical exploitation of the deposit’s upper portion, significant high-grade Au-Ag mineralization potential remains, particularly in the veins that represent the continuation of the Guanaco Mine orebody, mineralized breccias and the potential linkage with a porphyry deposit.
Field evidence from detailed geological mapping and sampling indicate favorable conditions for the occurrence of a breccia-type Au-Cu ore body or, potentially, the presence of a shallow Cu-Au hypabyssal intrusive body beneath the veins.
The surface geology is accurately documented with detailed information regarding the outcropping lithology, mineralization, alteration, and structural setting. However, to obtain crucial additional information, it is recommended to carry out the topographic survey of the underground mine, conduct further detailed geological and structural mapping, implement systematic sampling, perform mineralogical and geochemical studies, and conduct geophysical studies. These additional investigations are essential to comprehensively understand the ore known body at depth, the presence of new veins and its potential extensions.
The reinterpretation of both historical and new data sets will make possible the development of a refined exploration model that can effectively guide drilling campaigns targeting veins and potential porphyry deposits at depth.
PROPERTY TYPE
Low sulphidation epithermal gold-silver project
STATUS
Available for partnership
LOCATION
Located in the El Peñón Mining District, Antofagasta Region. Northern Chile
SIZE
1,700 hectares
EXPLORATION STAGE
Early-Stage exploration
TENURE
8 exploitation concessions
The Las Lolas property is a low sulphidation epithermal gold-silver project situated within the highly renowned Paleocene – Lower Eocene metallogenic belt in northern Chile, about 187km southeast of Antofagasta. Comprises four exploitation concessions covering an area of 800 hectares.
The project is located approximately 4 kilometers to the East of the Yamana´s El Peñón gold-silver mine-complex.
Preliminary mapping of the property has identified various types of volcanic rocks, including a siliceous sinter-cemented rhyolite breccia. Rock-chip samples collected demonstrate the presence of widespread gold mineralization with grades consistent with the upper levels of a low-sulfidation gold-silver deposit. In 2003, an RC scouting-drilling program was conducted, comprising a total of 1,214 meters across five drill holes. The majority of these holes reported Au-Ag anomalies, with peak values exceeding 2 g/t Au and 0.60 g/t Ag.
While a comprehensive survey of the entire property has not been completed, the work conducted so far has been sufficient to establish that the property exhibits several similarities to El Peñón Mine, particularly in terms of mineralization, structural control, host rock composition, and other features. These similarities further enhance the potential of Las Lolas for Au-Ag mineralization and underscore the importance of completing the exploration phase to fully assess and understand the extent of the mineralization and its economic viability.
The next recommended phase of exploration for Las Lolas should include detailed geological and structural mapping, mineralogical and geochemical studies, and additional geophysical studies. Integration of new information and the reinterpretation of the property’s potential will enable a more precise delineation of drilling targets.