A gold target similar to gold deposits in Nevada’s Carlin trend has been identified on Queenstake Resources’ (QTR-T) wholly owned Conchaturio property in southern Peru.
Surface and trench samples at the project, 430 km southeast of Lima near the city of Andahuaylas, have returned values of up to 151.1 grams gold per tonne.
The company acquired the 5,000-ha property in 1995, and the prospect is said to be of a type not previously recognized in Peru. Since April, Queenstake has acquired more than 79,000 additional hectares of mineral properties in areas with potential for similar discoveries.
“This type of gold has never before been looked for in this part of Peru,” says Doris Meyer, Queenstake’s vice-president of finance.
The target is in a belt of Mesozoic sediments intruded by Tertiary granitic rocks at the northwestern end of a 250-km belt of similar rocks. The belt hosts several base and precious metals districts.
Chip samples at the prospect were taken from surface outcrops and from shallow, hand-dug trenches over widths of 3 to 4 metres in a reconnaissance geochemical survey, over a 1.5-km zone.
The target at Conchaturio is a multi-Million-ounce deposit (or deposits) of modest to high grade, of which some would be minable by open-pit methods, the company says.
Of 200 samples taken from the trend, 140 were anomalous in gold and 50 were greater than 0.1 gram gold per tonne.
Thirteen samples returned more than 1 gram gold and seven were greater than 3 grams gold: of those seven, three graded higher than 31 grams per tonne, or 1 oz. per ton.
The distribution of gold values indicates the presence of two clusters of higher grades about 400 metres apart. However, few samples were taken between the clusters, as rock outcrops are rare and soil cover is too deep for hand-Trenching.
The area of gossanous outcrops and red soil cover is being trenched by bulldozers. Ground magnetic and induced-polarization surveys are planned.
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