Mansfield options porphyry prospect Mill construction begins at Minto property in Yukon

Vancouver-based Mansifeld Minerals (MDR-V) and Aranlee Resources (ARB-V) will jointly develop the Pancho Arias porphyry prospect in northern Argentina’s Salta province.

Mansfield can acquire a 60% interest in the 300-ha property in return for spending US$1.25 million on exploration over five years, paying US$20,000 cash upon signing, and assuming all remaining option payments, which will range between US$1 million and $1.5 million. The junior can earn an additional 10% by completing a positive feasibility study within seven years of signing.

Aranlee currently holds the property through an agreement with privately owned Starcross Properties, which, in turn, has an option-to-purchase agreement with the underlying property owner.

The prospect is characterized by a Tertiary-aged copper-molybdenum porphyry system associated with a cluster of intrusive stocks hosted in Precambrian sediments.

By means of an induced-polarization survey, Aranlee identified a hydrothermal system that exhibits classic porphyry zoning. And in the southern portion of the property, the company located a gold-bearing zone containing values of up to 1.2 grams per tonne. Measuring 500 by 250 metres, the zone remains open to the south and northeast.

The property was drilled by the Argentine government in the early 1970s, though only one hole encountered mineralization of any consequence (32 metres grading 0.3% copper at a depth of 50 metres).

Meanwhile, Mansfield, which also operates the Incahausi-Las Burras project south of Pancho Arias, has signed a joint-venture agreement with Argentina Gold (ARP-V). The partners will explore 2,140 ha in the same region as Pancho Arias.

In all, Mansfield is party to joint ventures covering 29,800 ha in Salta province, which features a belt of porphyry prospects. President Gordon Leask believes these targets could have formed along a poorly known structural trend extending as far south as the Baja Alumbrera mine.

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A mill is being built at the Minto copper-gold-silver project 240 km northwest of Whitehorse, Y.T.

Partners Minto Explorations (MXO-V) and Asarco (AR-N) awarded a contract for construction of the mill footings to Ketza Construction of Whitehorse.

Excavation work is under way, along with construction of a permanent camp and access road.

The Minto mill has been designed for an annual throughput rate of 525,000 tons, with an initial mine life of 13 years.

The operation is targeted to produce up to 35,000 tons of concentrate annually, during the first five years of production. Annual average output would consist of 27 million lbs. copper, 10,000 oz. gold and 100,000 oz.

silver.