Vancouver — IMA Exploration (IMR-V) has launched a highly anticipated 1,500-metre drill program over its 90-sq-km Rio Tabaconas polymetallic property in northwestern Peru.
The holes will be collared on the 600-by-200-metre Tablon zone, where 122 rock-chip samples returned an average grade of 5.6 grams gold per tonne.
Earlier this year, the junior located the source of a 400-metre-wide train of gold-rich massive-sulphide boulders at Tablon. Within this zone, samples were collected over a newly discovered outcrop hosting massive-to-semi-massive sulphides. They returned 27.2 grams gold over 8.6 metres. Included in this interval was a bonanza-grade section running 147.1 grams gold over 0.8 metre.
Evaluating the eastern extension of the target, 62 soil samples averaged greater than 1 gram gold. Several values yielded an impressive 2-18 grams gold.
Geophyscial surveys confirm that the zone extends to the east.
The property is underlain by volcanic and sedimentary rocks, including limestones that have been intruded by Cretaceous-age granitic rocks. The package has been covered by younger Tertiary-age volcanics.
Gold and associated copper mineralization occur in clay/silica-altered zones in the Tertiary volcanics, as well as in replacement and skarn alteration zones in the underlying limestones and volcanics.
Located in the northern section of the Cajamarca Department of San Ignacio province, 30 km from the border with Ecuador, the property lies at a moderate elevation of 1,400-2,200 metres above sea level. It is accessible by road.
The package of concessions centres on 28.9 sq. km of optioned ground, in which IMA, through its Peruvian subsidiary, can earn a 100% interest by paying US$1.5 million over seven years and spending US$525,000 on exploration over three years.
Assay results for the first five holes are expected in between four and six weeks.
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