Tarqui–Quimi Project
This project is located within the Zamora Metallogenic Belt, which hosts several significant deposits including the Mirador Mine, the Panantza Project, the Warintza Project, and the Fruta del Norte Mine.
Highlights include:
- Copper-molybdenum porphyry target within a 2.5 km by 1 km geochemical anomaly
- Drill intercepts confirming porphyry-style mineralization including 218 metres grading 0.32% CuEq from surface in hole TARQ4D (reported in a press release dated July 11, 2022, by previous owner Luminex Resources Corp. (“Luminex”)):
Hole | Depth/Azimuth/ Inclination | From (m) | To (m) | Length (m) | Cu (%) | Au (g/t) | Ag (g/t) | Mo (ppm) | Cu Eq (%) |
TARQ4D | 634m/225°/-70° | 4 | 222 | 218 | 0.29 | 0.03 | 0.7 | 5.97 | 0.32 |
Incl. |
| 16 | 130 | 114 | 0.32 | 0.04 | 0.82 | 7.2 | 0.36 |
Incl. |
| 16 | 24 | 8 | 0.46 | 0.04 | 1.8 | 14.7 | 0.51 |
Incl. |
| 32 | 50 | 18 | 0.43 | 0.05 | 0.74 | 2.6 | 0.48 |
Incl. |
| 122 | 130 | 8 | 0.47 | 0.05 | 0.89 | 1.4 | 0.52 |
Note: intervals in the reported hole were calculated using a cut-off of 0.10% Cu with maximum interval dilution of eight continuous metres. Sampling was done in consistent, continuous 2-meter intervals. Copper equivalent values were calculated using the following prices: a gold price of US$1,600 per ounce, a copper price of US$3.00 per pound, a molybdenum price of US$8.00 per pound and a silver price of US$20.00 per ounce. No allowances were made for recovery losses that may occur should mining eventually result. Luminex advised that a qualified person reviewed, verified and approved the scientific and technical information concerning the Tarqui Project contained in the aforesaid news release and that a qualified person verified the data underlying that scientific and technical information.
- Conductivity anomalies defined by a VTEM survey that coincided with surface geochemistry and alteration
- Polymetallic veins with gold grades of up to 38 g/t gold; silver grades of up to 559 g/t silver (reported in a press release dated February 12, 2019, by previous owner, Luminex)
- Conductivity anomalies defined by a VTEM survey that coincided with surface geochemistry and alteration mapping.
- Historical exploration data from the Quimi concession indicate a target area approximately 1 km by 0.8 km in extent where anomalous copper values have been reported. This information is derived from historical records that have not been verified by the Company’s Qualified Person and will be evaluated through future exploration programs.
Map 1. Tarqui Project - soil sampling + drillholes
