Teck, Mansfield persevere at Rio Grande

Vancouver-based junior Mansfield Minerals (MDR-V) is encouraged by results from the first round of drilling on the Rio Grande iron oxide-copper-gold prospect in northwestern Argentina. The program has outlined a large footprint of low-grade mineralization.

Teck (TEK-T) recently completed 11 widely spaced holes totalling 3,171 metres over an area measuring 1.5 by 1 km. Seven of the holes cut significant intervals of low-grade copper and gold mineralization. Several of the deeper holes bottomed in higher-grade mineralization, and the mineralized system remains open in several directions. For a summary of the better intercepts, see the accompanying table.

Teck can earn an initial 55% interest in the Rio Grande property from Mansfield by spending $4 million on exploration over four years and paying $1 million. The property is in the Puna region, 250 km due west of Salta.

Nearby, Mansfield holds a l00% interest in Arizaro property, 12 km southeast of Rio Grande. The company recently completed a program of excavator trenching on the Lindero zone. The floor of each trench was chip-sampled in continuous intervals using a hammer and chisel. Selected results included:

– 42 metres of 1.03 grams gold per tonne and 0.1% copper in trench LDBL;

– 74 metres of 1.47 grams gold and 0.13% copper in trench 50N;

– 134 metres of 1.64 grams gold and 0.13% copper in trench 200E;

– 110 metres of 1.08 grams gold and 0.11% copper in trench 300E; and

– 38 metres of 0.91 gram gold and 0.21% copper in trench 50W.

The mineralization at Lindero is largely devoid of sulphides, and consists of quartz-magnetite-stockwork and minor breccia hosted in a circular intrusive stock. Trenching has defined a mineralized area of 750 by 200 metres in the southeastern and southwestern portions of the intrusive. Teck holds a right of first refusal on Arizaro.