LITERATURE REVIEW SPECIAL — Oroperu drilling gold properties

The acquisition of Arequipa Resources and its Pierina gold deposit by Bar- rick Gold (ABX-T) has cast the spotlight on Peru’s mineral potential. The major is also eyeing other projects in the country, including the Minaspamba property of Oroperu Resources (OROP-C).

Including the Minaspamba joint-venture with Barrick, Oroperu controls 50,000 ha of concessions in the Huamachuco district, including Cerro Colorado and El Toro. Several other projects are being examined.

Recently, Oroperu completed a first phase of drilling at El Toro, and a similar program is about to begin at Minaspamba.

The Toro program included 52 reverse-circulation drill holes, which tested an area measuring 3 by 1.5 km. This work identified a zone of mineralization on the northern flank of the property, on the Chimu sediment contact zone, as well as and on the eastern flank, in the Barbujita zone. Reconnaissance drilling on the southern flank and to the east encountered no significant values.

On the northern flank, drilling identified a west-dipping contact zone between a phyllic altered intrusive and Chimu sediments. The first hole returned 79.5 metres grading 0.39 gram gold per tonne (from 120 to 199.5 metres), while the second returned three mineralized intervals: 15 metres of 1.42 grams starting from surface; 43.5 metres of 1.07 grams (from 46.5 to 90 metres); and 12 metres of 6.38 grams (from 90 to 102 metres).

Hole 19 returned 15 metres of 1.03 grams, starting at surface, and a 34-metre interval grading 0.43 gram. Selected results from other holes drilled in this area include: 56 metres of 1.56 grams; 6 metres of 4.31 grams; 13.5 metres of 1.2 grams; 11.5 metres of 1.54 grams; 19.5 metres of 3.02 grams; 12.5 metres of 3.45 grams; 8.5 metres of 3.02 grams; and 17.5 metres of 1.23 grams.

On the eastern flank, hole 14 returned 90 metres of 0.64 gram, which includes 16.5 metres of 1.62 grams. Three other holes drilled to test this area returned 15 metres of 6.48 grams, 23.5 metres of 1.04 grams and 23.5 metres of 0.91 gram.

Oroperu describes the overall results from drilling at Toro as sufficiently encouraging to warrant further exploration. However, potential partner Barrick has opted to relinquish its right to joint-venture this project and, instead, has selected the Minaspamba property, 15 km from El Toro.

Minaspamba covers a south-facing, brecciated zone of mineralization that is exposed on surface over a strike length of at least 600 metres. Eight short adits and pits have tested the mineralization, with grades averaging 6.25 grams gold and 42.6 grams silver over a distance of 300 metres on the brecciated structure.

The first phase of drilling at Minaspamba will test the true width of this structure and its continuity at depth. Road construction to the drill sites has been completed, and camp construction will start shortly. The program is aimed at finding a buried, bulk-tonnage gold deposit that could be related to a buried intrusive structure or favorable stratigraphy.