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Elementos Identifies New Prospective Gold Silver Vein Targets At Manantiales, Argentina

Elementos' (ASX: ELT) rock chip sampling has identified a cluster of new prospective vein targets in close proximity to existing veins at its Manantiales gold silver project in San Juan Province, Argentina.

The new veins are located in the southwestern corner of the tenement close to the Manantial, Manantial Este and La Puerta vein systems.

These are topographically lower than the Manantial vein, and are interpreted as representing a higher level within the epithermal environment.

This is based on the high proportion of calcite-quartz, low silver content, and indications that the host rock is similar to that at the Manantial vein, where the company has drilled the upper levels of a mineralised epithermal system.

Initial rock chip sampling at the new Valentina vein prospect has returned high grade gold with highlights including:

  • 17.9 grams per tonne (g/t) gold and 36g/t silver
  • 12.7 g/t gold and 26g/t silver
  • 10.1 g/t gold and 27g/t silver

Five other rock chip samples returned more than 4g/t gold including peaks of 8.59g/t gold and 9g/t silver.

Elementos added the Valentina structure remains open along strike with samples in the northern and southern ends returning 6.91 g/t gold and 12.7 g/t gold respectively.

Valentina is a narrow quartz-calcite and chalcedony epithermal vein located 2.5 kilometres east of the Manantial vein and 2.5 kilometres west of the La Puerta prospect.

The vein is hosted within felsic volcanic rocks with 3 segments exposed over 400 metres strike as discrete outcrops within shallow talus cover on steep slopes. Exposed widths range between 0.3 to 1.5 metres, although due to the extensive talus soil cover true widths are not known.

Other vein targets identified include:

  • Colorados - a quartz-calcite vein 150 metres long and 0.5 to 2 metres wide. Channel sampling returned best values of 0.5 metres at 5.38 g/t gold, 0.8 metres at 2.16 g/t gold and 0.65 metres at 0.89 g/t gold
  • Colorados Sur - two parallel quartz-calcite veins, 1.5 km south of Colorados. Channel sampling returned best values of 0.64 metres at 1.48 g/t gold and 1.5 metres at 0.79 g/t; and
  • Gabo vein - located 0.8 km east of Colorados vein. A 190 metre long quartz-calcite vein in discrete outcrops with widths between 0.5 to 7 metres. Channel sampling returned best values of 0.68 metres at 3.15 g/t gold, 0.57 metres at 2.26 g/t gold, 0.82 metres at 1.85 g/t gold and 1.15 metres at 1.43 g/t gold.

The company said further sampling and mapping will be required to test the true width and strike extent of the vein systems.

However, the company will focus on compiling all the results produced to date for future exploration and drill planning purposes.

Emerging Gold District

Manantiales in the San Juan Province is a large district of gold-silver epithermal vein mineralisation with little modern exploration.

The San Juan Province hosts a number of world class mining operations including Barrick Gold's (NYSE, TSX: ABX) 12 million ounce Veladero mine and Yamana Gold's (NYSE: AUY, TSX: YRI, LSE: YAU) 2.9 million ounce Gualcamayo mine.

Elementos' Manantiales lies adjacent to Troy Resources' (ASX: TRY) Casposo mine, which has a resource of 0.4 million gold ounces and 17 million silver ounces.

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