Teck, Mansfield prove up copper play in Argentina

Trenching has enabled partners Teck (TEK-T) and Mansfield Minerals (MDR-V) to prove up their Cerro Samenta copper porphyry property in Argentina.

Initial geophysical work on the claim package identified two large induced-polarization (IP) anomalies, one measuring 1 by 1.6 km at North Samenta and another, called South Samenta, measuring 1 by 2 km. The anomalous areas are 5 km apart from each other.

In preparation for drilling, to begin in September, the joint venture focused its trenching program on the north porphyry body. In the process, it uncovered a copper-depleted, leached cap of variable thickness overlying an irregular and undulating supergene enrichment zone, within a strongly altered intrusive suite.

Of the 11 trenches completed on the periphery of the IP anomaly, eight exposed the leached capping, two cut a strongly mineralized potassic core and one trench, 93N, revealed intermittent supergene copper mineralization at the extreme southern tip of the IP anomaly.

With copper grades as high as 1.6% over a 3-metre interval, 93N yielded 48 metres averaging 0.45% copper.

The two trenches that cut through the oxidized potassic core returned 123 metres averaging 0.51% copper in 98E, and 93 metres averaging 0.47% copper in 100N. Individual assays graded up to 2.19% copper over 3 metres.

Drilling will be necessary to determine the extent of the supergene enrichment zone to depth.

Teck can acquire a half interest in the Cerro Samenta property from Mansfield by spending US$7.5 million and paying US$1.6 million over five years.

Corriente Resources (CTQ-T) recently staked 60,000 ha of claims in the vicinity of the Cerro Samenta property and acquired an option to buy 6,000 ha south of Cerro Samenta.

On allegations that Cerro Samenta has not been properly surveyed, Corriente is organizing a survey crew to define the boundaries of its newly acquired claims to confirm the land status in relation to Mansfield’s ground.

Teck and Mansfield responded to the allegations by stating that a land survey was completed mid-July by the Salta Mining authority and that the initial and unofficial results confirm the North and South porphyry bodies lie completely within Mansfield’s claim group. Official results are expected to be released shortly.