Sulliden drilling at Mario project

Drilling by Sulliden Exploration (SUE-T) has confirmed a previous massive sulphide discovery at the Mario project in the Peruvian department of Junin, some 50 km southeast of Huancayo.

The first hole in the 9-hole program tested a weak electromagnetic conductor and hit massive sulphides at 105 metres below surface. One of the massive sulphide zones intersected in this hole returned 11.34% zinc, 3.16% lead and 403.7 grams silver per tonne over 8.7 metres.

Sulliden optioned the property from Cominco (CLT-T) this summer. It can earn a 100% interest by spending US$1.2 million on exploration over six years, though Cominco retains back-in rights for up to a 60% interest.

The currrent program is following up previous drilling by Cominco, which, in 1999, resulted in the discovery of a massive sulphide zone that returned 9.5% zinc, 6.6% lead and 626 grams silver over 3.9 metres.

The newly discovered zone lies on the western flank of a dacite dome, which measures about 800 metres by 600 metres at the contact between marble and dacite. Cominco’s previous discovery is on the eastern flank of the dome.

In addition to drilling, the current program includes more geophysical surveys. Sulliden says it is encouraged by results to date, as they indicate that the mineralized system almost entirely surrounds the dacite dome. The project is in the Pucara Basin, which hosts several major polymetallic deposits, including several intermediate-sized producers.