The two targets, dubbed Negro and Yuyapichis, are near the upper portion of the highland watershed, within a 10-by-30 km area where stream-sediment sampling has indicated a potential source of alluvial gold.
Radar imaging has identified circular features that coincide with the high-contrast stream anomalies, and preliminary groundwork suggests these features are volcanic intrusive complexes.
The Negro target has been traced to the headwaters of a series of streams with strong gold anomalies. Silt samples taken from 14 of the 15 streams and tributaries that drain the target returned gold values of between 575 parts per billion (ppb) and 48.3 grams per tonne.
Within the target area lie a large, altered porphyry intrusive stock and a vuggy, altered porphyry breccia. The breccia is anomalous in gold and covers an area measuring 800 by 500 metres; it is adjacent to the intrusive stock and coincident with a pronounced circular radar image anomaly.
The Yuyapichis target, 5 km northwest of Negro, was delineated by stream-sediment gold anomalies and by mineralized float samples. As many as 11 of the 16 streams that drain the target were found to be strongly anomalous in gold. Values ranged from 730 to 9,248 ppb. The target has a strike length of about 2 km and is 400 metres wide. A shallow trench was excavated upstream from one of the highest gold anomalies found. A silicified, pyritic porphyry float sample taken from the trench assayed 8.9 grams gold per tonne.
Two types of mineralized float samples were discovered in a separate stream system in the Yuyapichis area. The first type of sample was a copper-bearing, potassically altered, hydrothermal breccia. Assays performed on these boulders returned 0.97% copper.
The other type of sample contained disseminated lead-zinc mineralization within sericitized sandstone. Assays from these rocks returned 5.3% zinc and less than 1% lead. The source of these two types of boulders has yet to be determined.
Exploration at the Azul project will concentrate on the Negro and Yuyapichis targets, the objective being to define drill targets. Soil sampling and trenching are planned, as the outcrop exposure is limited. Meanwhile, reconnaissance work will continue on other targets in the area.
Ownership of the 38,000-ha property is shared equally with
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