Apoquindo cuts 66 metres of 1.03% copper at Zafranal

Since January, Apoquindo Minerals (AQM-V) has drilled 30,100 metres over a strike length of more than 3,500 metres at its Zafranal copper-gold project in the northwestern extension of southern Peru’s copper porphyry belt near the city of Arequippa.

Judging from 44 reverse circulation and 48 diamond drill holes, the deposit remains open to the north, east, west, and at depth. Results for 69 of the holes have already been announced and the remainder are pending.

Highlights include Hole ZFDDH10-42, which intersected 66 metres of 1.03% copper, including 43 metres of 1.34% copper, and hole ZFRC10-68, which returned 132 metres of 0.92% copper and 0.11 gram gold per tonne, including 33 metres of 1.36% copper.

Drilling through May has focused on a 2-km long segment of the more than 3.5 km mineralized Main Zone, one of six porphyry copper-gold targets within the Zafranal project.

This year the company plans to drill 40,000 metres that will include grid drilling the Main Zone, testing the east and west extensions of the zone, deep drilling, and testing several of the satellite targets.

Apoquindo Minerals has optioned the Zafranal deposit from Teck Resources (TCK.B-T, TCK-N). Teck discovered the deposit in 2003, which is in the vicinity of a handful of other well-known deposits including Cuajone, Cerro Verde, Toquepala, and Quellaveco.

The best mineralization has been defined over an area of 1200 metres by 250 metres with a thickness of 100 metres, Apoquindo states on its website.

Highlights from 36 holes drilled by Teck between 2004 and 2005 include 110 metres of 1.02% copper; 77 metres of 1.80% copper and 70 metres of 1.08% copper.

Zafranal is 90 km northwest of Arequipa and is accessed by a 41.5 km dirt road from the Panamerican highway.

In addition to the Zafranal porphyry, several other prospective porphyry copper prospects have been recognized within the property boundary, including the Sicera Sur, Sicera Norte, Campanero and Ganchos targets.

At presstime Apoquindo was trading at 80¢ per share. Over the last year the junior has traded in a range of 50¢-$1.10 per share. Apoquindo has 50.3 million shares outstanding.