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  • Elementos Flags Large Tonnage Copper Oxide Potential At Chilean Prospect 0 comments
    Dec 20, 2012 1:31 AM

    Elementos' (ASX: ELT) drilling to date at the Tamaya copper project in Chile has indicated that further drilling is warranted at the Campanil Prospect to identify a large tonnage copper oxide target.

    Drilling of three holes has confirmed zones of copper oxide mineralisation extending from surface in the wallrocks of the Main Vein.

    One of the holes returned 26.4 metres at 0.48% copper from surface including 7.3 metres at 1.06% copper and 0.125 grams per tonne gold from 5 metres, and 1.4 metres at 1.08% copper from 25 metres.

    The mineralisation is visible within the old Campanil workings on the southern end of the Tamaya hill.

    While the drill hole at San Jose did not intersect the main high-grade structure, alternative drilling locations and methodologies will be reviewed before commencing further drilling at the prospect.

    The Main Vein structure remains a primary untested target at Tamaya.

    Elementos is also awaiting assay results from the hole drilled at the Lecaros Prospect.

    The hole intersected two structures near the surface hosting copper oxide mineralisation in breccia. Fractures with veinlets of pyrite and chalcopyrite occur lower down the hole, which correspond with structures mined at surface.

    This diamond drilling program has been designed to test the copper-gold potential of the Tamaya project. The aim of the program is to test a number of different mineralisation styles and targets.

    Over in Argentina, exploration has identified new gold and silver veins and breccias at the company's Divisoria porphyry prospect in the Santo Domingo project.

    Follow-up mapping and sampling of targets identified by the recent geophysics successfully identified alteration and geochemical anomalies that appear to represent porphyry mineralisation in a number of areas not previously recognised.

    Notable sample results include 0.2 metres at 19.8g/t gold and 15g/t silver; 0.2 metres at 6.7g/t gold and 10.8g/t silver; 0.8 metres at 7.4g/t gold and 84g/t silver; and 0.1 metres at 43.1g/t gold and 19.7g/t silver.

    The samples are all from new localities and represent a significant expansion of the previously recognised mineralisation zone.

    Significantly, a new occurrence of intermediate sulphidation epithermal mineralisation has been identified, and is situated two kilometres from the existing ISE prospects. This implies a far wider potential distribution than realised to date.

    Elementos is continuing discussions and undertaking site visits with a number of parties interested in acquiring or joint venturing the project.

    Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX "Small and Mid-cap" stocks with distribution in Australia, UK, North America and Hong Kong / China.

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