ÁGUILAS PROJECT : Current Exploration

The Águilas Project includes nine Investigation Permits, covering approximately 16,333 hectares in northern Andalucia, Spain. The main targets are major cross-cutting fault zones in the Pedroches Batholith, including the Northeast oriented Torrubia capper trend and the Northwest oriented Zumajo Pb-Ag (Zn) mine trend.  The Águilas Project location is shown in Figure 1.

 

Recent exploration at the Torrubia North target has confirmed wide zones of breccia and alteration: strong copper mineralization in breccia fragments and narrow drill intervals with anomalous copper and gold, including peak assay values up to 0.78% Cu and 3.48 g/t Au.   The project area also contains a >20 km series of historical mines on the Zumajo Trend with potential for high grade Pb-Zn-Ag ± Cu-barite-fluorite associated with quartz-carbonate hydrothermal breccia and vein style mineralization.

Aguilas Property Location Map-02.png

Figure 1.  The Águilas Project Location Map

RESULTS TO DATE
Torrubia North Trend
  • In May 2019, 8 drill holes on the Torrubia North Target confirmed wide zones of breccia and Iron Oxide Copper-Gold (IOCG) style mineralization over several kilometers strike length.

  • This included 16m @ 0.30% Cu, 30.5ppm Co, 0.6 g/t Ag, 0.05 g/t Au in drill hole TOR-01, including 0.8m @ 2.65% Cu, 125ppm Co, 3 g/t Ag, 0.004 g/t Au and 0.7m @ 1.85% Cu, 240ppm Co, 2.1 g/t Ag, 0.02 g/t Au, and 0.7m @ 0.55 g/t Au.

  • In November 2019,  seven wide-spread reconnaissance drill holes were completed for a total of 964.4 meters.

 

  • Drill program tested a 1.9 km long copper anomaly with up to 1,980 ppm Cu in soils, 8.4% Cu in boulders, up to 1.2% Cu in outcrop and evidence of ancient shallow mine works.  See Figure 2  and Table 1 for drill hole results/locations and collar details.

  • The drill holes were spread over approximately 1.6 km of strike with hole spacing from 150 m to 600 m and an average hole length of approximately 138 m.

  • The drill holes extend the Torrubia trend and confirm a steep west-dipping zone of multi-stage breccia over 10 to 68 meters thick with strong hematite, quartz and carbonate alteration.

Figure 2.  Torrubia North - Drill Hole Location Map, Nov. 2019

Torrubia North Drill Hole Locations

  • The breccia is weakly anomalous in Cu in each drill hole reflecting potential dilution by later quartz-carbonate breccia events and more recent faulting.

  • Several drill holes intersected strongly copper-mineralized clasts within the breccia (see Figure 3) providing evidence of an early copper-rich stage and exploration potential along the Torrubia structure and at depth.

Table 1 - Torrubia North Drill Hole and Collar Information

Table Torrubia North drill hole collar i
  • High gold values in hole TN-06 are associated with quartz pyrite veins, indicating a separate gold stage.

 

  • Less than 25% of the Torrubia Tend has been investigated to date and additional work is required to determine local scale controls on the Cu mineralization. Further investigation of the Au potential is also required.

Drill core from the Torrubia North target with examples of breccia clasts containing strong copper mineralization associated with red and black hematite alteration.  (a) Drill hole TN-01 showing a chalcopyrite-hematite fragment within a multi-stage, polymictic, quartz-carbonate matrix breccia; (b) inset – clast with coarse chalcopyrite; (c) Drill hole TN-02, breccia fragment with strong chalcopyrite and secondary Cu minerals and host within mainly quartz; and

(d) Drill hole TN-05, with abundant red hematite clasts containing chalcopyrite and secondary Cu, within a largely carbonate matrix.

Zumajo Trend
  • ​​The soil anomalies at San Luis and San Cayetano are coincident with a 1960’s Turam EM conductor anomaly that remains largely untested by previous drilling.

  • IOCG mineralization identified over 0.5km (open) at Los Lazos in the NW of the project area, with 5 samples returning values from 0.24% to 2.82% Cu, and up to 2.1g/t Ag, 0.03g/t Au, 276ppm Co and 8.24% Fe – confirming potential for IOCG style mineralization elsewhere in the project area.

  • Numerous targets identified for follow-up from the new geological interpretation, including parallel structures with evidence of ancient mine workings.

  • Results on the Zumajo Trend show a potentially significant 1.8 x 0.3 km Pb-Zn-Ag soil anomaly extending from the former San Juan and San Rafael mines and separate Pb-Ag ± Zn soil anomalies extending from the San Luis and San Cayetano mine workings.   

 

  • Results include up to 8.9 % Pb, 0.97 % Zn, 37.9 g/t Ag and 672 ppm Cu in soils and up to >20 % Pb (above upper detection), 20.7 % Zn, 235 g/t Ag and 12.75 % Cu in samples from mine dumps. 

  • The highest Pb, Zn and Ag soil values are attributed mainly to dispersion from the historical mine workings and potential extensions of the mineralization. 

Zumajo Trend Pb Zn Ag Anomalies

Figure 4.  Zumajo Trend Pb-Zn-Ag Anomalies

  • ​​New geophysics results shows IP/AMT resistivity and conductor anomalies coincident with the Pb-Zn-Ag mine trend and new targets suggesting potential separate parallel structures.

 
Work Program
  • Ground sampling and potential geophysics to continue to advance targets to drill ready stage

  • Potential drilling on the Zumajo Trend in the 2nd half of 2020

 
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