Kookaburra Resources to gain Rosa Maria gold prospect in Peru

By paying US$770,000 over three years, Kookaburra Resources (TSE) can acquire a 2,500-hectare property in southern Peru.

The Rosa Maria property hosts several copper-gold porphyry prospects, including the Cachuyo project, where previous work exposed widespread mineralization over a 600-by-1,500-metre area. Based on test results of 33 drill holes and 80 trenches, Cachuyo is estimated to contain 100 million tonnes grading 0.5% copper and 0.17 gram gold per tonne.

Trenching has revealed grades of 1% copper and 0.57 gram gold over 45 metres, as well as 0.83% copper and 0.4 gram gold over 135 metres. Drilling suggests the oxide mineralization extends to a depth of more than 200 metres.

Kookaburra regards Cachuyo as a potential solvent extraction-electrowinning project, as regards copper recovery. Recovery of oxidized gold would be aided by cyanide leaching.