Daily Metal Market News & Metal Prices
 
Daily Metal Prices & Market News
Monday 08th of February 2010
Monday, May 19, 2008

Alturas Minerals reports drill results

Alturas Minerals reports drill results

Alturas Minerals Corp. reported assay results from a 4,709 meter reverse circulation drilling program recently completed at its 100% owned Banos del Indio in southern Peru.

The program comprised 18 widely spaced holes drilled to depths of between 169 and 350 meters, targeting multiple combinations of geochemical, geophysical (high resistivity) and structural anomalies in the Honguitos, Llaurimorco and San Benedicto epithermal centers.

The program successfully intersected extensive zones of siliceous alteration in most drill holes as predicted from the geological model developed by Alturas, with scattered anomalous intervals of gold (up to 0.16 grams/tonne), epithermal pathfinder elements (arsenic, antimony, barium, bismuth, mercury, molybdenum, silver) and base metals.

Miguel Cardozo, President of Alturas commented, although our first phase drilling of the northern sector of the Banos del Indio project did not intersect economic mineralization, this is a very large high sulfidation epithermal system and we have explored only 30% of its total area in this campaign.

Mr. Cardozo continued by saying drill holes have been spaced widely and most of the targets drilled were blind and conceptual in nature.

Nonetheless, we are encouraged by the wide intervals of the prospective siliceous alteration intersected, he added.

In several cases, the siliceous alteration has returned anomalous values in gold, silver and other important epithermal pathfinder elements, confirming that we are in the upper levels of a potentially productive system, continued Mr. Cardozo.

Alturas is now evaluating the data from the drill program with the aim of refining the target model and developing a second phase drilling program, he concluded.

The 6,536 hectare Banos del Indio Gold Project is located approximately 20 kilometres north-northwest of Alturas’s Huilacollo Gold-Silver Project in the Department of Tacna in southern Peru.

Alturas has acquired 100% of the mining rights of the property through an option contract that the company previously exercised.

The project comprises a very large (greater than 6 x 5 kilometers) zone of high sulfidation alteration associated with surface gold-silver mineralization.

Seven known high-sulfidation epithermal centres are present, each containing extensive areas of prospective siliceous alteration and breccias.

To date, only three of these centers has been explored by drilling.

 

Add to Bookmarks:

ADD TO NETSCAPE     ADD TO DEL.ICIO.US     ADD TO DIGG     ADD TO FURL

ADD TO STUMBLEUPON     ADD TO YAHOO MYWEB     ADD TO GOOGLE     ADD TO SPURL


Related posts to: Alturas Minerals reports drill results

Azure reports enouraging Los Chinos results ...

Western Areas reports positive results for Cathedrals Prospect ...

General Metals provides drilling updates ...

Atlas provides drill result at Tres Chorreras ...

Sherwood provides results from the Kutcho drill program ...

Latest Metals News:

Latest News  Copper prices up after last week’s declines

Latest News  Copper, other metals continue price declines

Latest News  Copper in big declines on economic concerns

Latest News  Copper, other metals gain again

Latest News  Copper gains on US data

Latest News  Copper prices up on buying by funds

Latest News  Copper prices lower on economic concerns

Latest News  Copper prices lower on China news, US housing starts

Latest News  Gold lower on stronger dollar

Latest News  Metals prices mixed in London, New York


Previous: «
Next: »

Visited 2204 times, 2 so far today

Gold ($/troy ounce):

Silver ($/troy ounce):

Platinum ($/troy ounce):