Exploration in Peru - Takeaways from MINPER 2019 publication

Researched and produced by international business intelligence firm, Global Business Reports, and distributed in collaboration with the PERUMIN convention, the MINPER 2019 publication provides a comprehensive guide to the Peruvian mining sector in Spanish. In this article, we have extracted key takeaways related to exploration in Peru for all our anglophone readers.

Gran Colombia Gold Announces Intention to Spin Off Marmato to Carry Out Proposed Expansion of Underground Mining Operations

Gran Colombia Gold Corp. (TSX: GCM; OTCQX: TPRFF) have announced plans to spin out the Marmoto project to be able to finance ongoing exploration and increase gold production of current 24,000-to-26,000 oz/year which will include building a new plant and tailings storage facility. This move will also help push forward the plans to expand underground, to complete the PEA this year and start the Prefeas in 2020.

B2Gold and AngloGold Ashanti to Amend Ownership and Management of the Gramalote Project, Colombia

B2Gold Corp. (TSX: BTO, NYSE AMERICAN: BTG, NSX: B2G) has signed a deal with partner Anglogold Ashanti (JSE:ENG) (ASX:AGG) (NYSE:AU) that open the door for the global mid-tier miner to up its interest to 50% via a $13.9 million spend on the Gramalote JV. As a result B2Gold will become manager and under the companies’ agreed $40 million 2019/2020 budget will lead the 42,500 m infill drilling program, and move the project through the feasibility study.

Cortadera Delivers Another Record Copper-Gold Porphyry Drill Result, Chile

Hot Chili Limited (ASX:HCH) have made top drill results of the week globally once again with assays back from their copper-gold porphyry exploration program at Cortadera, with 848m grading 0.4% copper & 0.2g/t gold. The result extends high grade mineralisation approximately 100m to the east from previous stellar drill results and has led the Company to extend another diamond drill hole CRP0017D to drill a further 300m to test extension of mineralisation.

Kura 077 Has it all - advanced IOCG project rich in Cu, Au, Mo and Co!

Kura 077 Has it all - advanced IOCG project rich in Cu, Au, Mo and Co!

Kura 077 has the highest and longest Co intercepts in Chile peaking 0.83% Co with intercepts continuity over 162 m @ 0.24% Co and 14 m @ 0.63% Co. The project is drill ready with >20,000 m drilling to date. PEA applied cut-off of 0.4 % CuEq, totalized 12.1 Mton oxides @ 0.53% CuEq and 47 Mton sulfide @ 0.59% CuEq and mineralization remains open, with plenty of upside to explore.

Regulus Reports 819.90 m of 0.53% Cu, 0.24 g/t Au and 7.83 g/t Ag (0.77% CuEq) in Hole AK-19-034; Extending Mineralization Northwards at the AntaKori Copper-Gold Project

Regulus Resources (TSX-V: REG) has announced results for a milestone drill hole, AK-19-034, which provides further proof of concept that they are nearing a porphyry centre towards the north. The Company also published a video alongside the release which provides a great further context to the regional exploration at its AntaKori Copper-Gold story.

Latin Metals Announces Positive Exploration Results from the La Flora and Cerro Bayo Precious Metals Projects, Santa Cruz Province, Argentina

Latin Metals Inc (TSXV-LMS) has announced results from rock samples taken from their two projects La Flora and Cerro Bayo, which are close to Mirasol's Virginia Project, Hochschild's San Augustine Oeste project and Yamana Gold's Verde project. La Flora reported high-level epithermal veins with bonanza gold and silver grades, whilst results from Cerro Bayo indicates a high-level epithermal system and has helped the Company identify the Amigos Zone for further exploration. Early-stage for both projects but with encouraging signs.

Tinka Drills 5.7 Metres At 32.6% Zinc At Ayawilca

Tinka Resources (TSX.V: TK) have released results from its South Ayawilca drill program which aims to expand the high-grade Zinc Zone which was defined in the Company's recent PEA. In the Zinc Zone drilling hit 34.7m of 6.7% zinc, 11g/t silver and 86 g/t indium from 171 m, which included 5.7m of 32.6% zinc.

Rio2 Limited Completes Updated Pre-Feasibility Study For The Fenix Gold Project In Chile

Rio 2 Limited Mining (TSX-V:RIO) has released a PFS for the Fenix gold project, which is a multi-stage project starting with 20,000 tpd with potential step ups to 40,000 or even 80,000 tpd and with 5% NPV. The mineral resource was updated based on a 7000m drill program but made no material effect on the combined M&I resources.

New Pacific Continues Reporting Wide Drill Intercepts at Silver Sand Including an Intercept of 93.5 Metres Grading 336 Grams per Tonne Silver

New Pacific Metals Corp. (TSX-V: NUAG) has released the third batch of 20 holes from its Silver Sand project in Bolivia, which continues to show wide silver mineralization. The Company hit an impressive intercept of Drill hole DSS522506, 165.5m @ 204g/t Ag from 73.8m to 239.3m, which included 93.5m @ 336g/t Ag from 73.8m to 167.3m, a strong result that was appreciated by the market seeing the share price rise close to C$3. New Pacific have had a great year on the markets with share price doubling as the Company has released set up agreements and released results from its drill campaigns and has done especially well as silver has climbed in recent months.

Carube Signs LOI to Acquire Latin America Resource Group

Carube Copper Corp. (TSXV:CUC) (“Carube”) and Latin America Resource Group (“LARG”) have announced intent to merge, which would see Carube incorporating the Jasperoide Copper-Gold Project, located in the highly prospective Andahuaylas-Yauri belt of Peru, into its portfolio. It will be a great boost for LARG shareholders and is just the project Carube have been searching for in the region. One to keep an eye on!

Kura 082- A Copper Blind Spot Wanting More Drilling

Kura 082- A Copper Blind Spot Wanting More Drilling

In the Miocene Gold Province, between the northern Maricunga and the southern El Indio Pascua Lama belt, Kura 107 or Project Paz has a temporal and spatial relation with NGEx's Los Helados (2.9 Bt @ 0.4% Cu).
Kura 107 boasts a hydrothermal alteration footprint covering 1km2 including several high-sulphidation 'steam-heated' lithocaps with gold anomalies up to 0.76 g/t Au.

Golden Opportunities in Chile

Gold is being delightful in the markets and leaders are optimistic for it to continue that way with Goldcorp founder, Rob McEwen holding firm on his call for $5,000. Even before this recent uptick, Eric Sprott had begun showing his faith in the precious metals space: since May Sprott had made a flurry of investments into junior miners, 83% of which was in gold according to Oreinc. Amongst those in South America were: C$32 million into Continental Gold exploring in Colombia; over C$20 million into Jaguar Mining producing and exploring in Brazil and over C$9 million into Rio2 exploring in Peru and Chile.

The most recent gold discoveries in Chile include the Alturas project (Barrick) with inferred resources of 5.5 Moz @ 1.25 g/t Au and the Salares Norte project (Goldfields) with inferred resources of 3.79 Moz @ 4.6 g/t Au. Both discoveries lie in the prolific Maricunga gold belt situated in the northeast portion of the country (Atacama Region), along the Andes Cordillera and near-by the Argentinean border. The Maricunga gold belt is Chile’s most prolific gold region and hosts numerous high sulphidation epithermal (HSE) Au-Ag deposits including La Coipa (2 Moz @ 1.7 g/t) and Lobo-Marte (7.8 Moz @ 1.2 g/t Au). In addition, there are large porphyry Au-Cu deposits including Cerro Casale (35 Moz @ 0.5 gt Au) and Caspiche (25 Moz @ 0.5 g/t Au) recently acquired by Goldcorp.

Here we have selected 3 gold opportunities with Tier 1 potential out of a variety of top gold exploration projects within the Kura Mineral Portfolio:

Gold Opportunity 1

Privately owned | Early exploration and Geological Mapping Completed – Drill Ready

Project 1 represents an opportunity for a HS breccia Au-Ag discovery as evidenced by a similar geological setting and alteration footprints to Pascua Lama, Valeriano and El Encierro.

The project contains two well-identified, ready-to-drill targets. One target shows potential for a HS breccia-Au-Ag deposit at depth as evidenced by a concentric, 4 x 1.5 km size, silicification + argillic alteration footprint with a silicified tourmaline breccia body at its centre showing gold anomalies of 0.4 g/t Au + 0.9 g/t Ag that is in intrusive contact with ryholitic to dacitc porphyry to the SE that shows anomalies up to 0.8 g/t Au + 0.6 g/t Ag. The other target exhibits potential HS epithermal veins as evidenced by the presence of polymetallic Au-Ag-Cu quartz veins with up to 55.8 g/t Au + 88 g/t Ag + 8.3% Cu.

Gold Opportunity 2

Privately owned | Early exploration

Project 2 has had no history of previous exploration reported and is made up of multiple exploration concessions totalling an area of 24,000 h. To date 120 targets have been identified through a systematic generative exploration program that included field evaluation of 57 targets and assay analysis of over 1,500 geochemistry samples.

Despite its early stage, Gold Project 2 represents a unique opportunity to develop an exploration program towards a major discovery given the evident similarities to the characteristics prior to discovery of nearby world-class deposits. One of the targets showed strong similarities and proximity to the Salares Norte recent discovery whilst three other targets resemble more to the Alturas discovery, both discoveries falling in the category of HSE Au-Ag deposits.

Gold Opportunity 3

Privately owned | Early exploration and Geological Mapping Completed

Project 3 represents an opportunity for a HS epithermal Au-Ag discovery as evidenced by a similar geological setting and alteration footprints to Los Helados gold project located within 50km north along the same NNE-SSW structural trend. The eastern target represents the most prospective as a HS breccia Au-Ag deposit at depth which is evidenced by the occurrence of a hydrothermal breccia body and multiple advanced argillic alteration lithocaps with gold anomalies up to 0.76 g/t Au.

If these opportunities are of interest or you would like to learn about the others in our Portfolio please contact our Exploration Manager, Thomas Eggers at teggers@kuraminerals.com,

Max Resource Expands North Choco Adding Two Historic Gold Anomalies

Max Resource Corp (TSX.V: MXR; Frankfurt: M1D1) are focused on the Choco belt of Colombia and is working to consolidate land packages there including the North Choco Copper-Gold project which they are acquiring through acquisition of Andagueda Mining. The two gold anomalies had highlight rock samples of 15 g/t from the NW gold anomaly of 5kmx4km and 12 g/t from the NE gold anomaly which is 6kmx5km.

Rio 2 Limited Announced Closing of $25 Million Bought Deal Private Placement

Rio 2 Limited (TSX-V: RIO; OTCQX: RIOFF; BVL: RIO) has closed a $25 million private placement which saw 62,500,000 units (a share and 1/2 purchase warrant) issued at $0.40. The raise will be invested into to the Company’s Fenix Gold project in Chile to complete the EIA, engineering studies and review of financing options for future construction, permitting and social activities.

Filo Mining Plans Extensive Drill Program for the Upcoming 2019 / 2020 Field Season

Filo Mining (TSX-V, Nasdaq First North: FIL) has more recently announced a $40 million financing but this August 8th news release gives more information as to where the investment would go on drilling and development at the Filo del Sol project in Chile. Backed by Lundin, Filo Mining is advancing one of the top copper deposits globally, with Filo del Sol’s resource estimate calculated as be 3.1 B lb Cu; 4.4 M oz. Au; 146.9 M oz. Ag (Indicated) and 1.1 B lb Cu; 1.8 M oz. Au; 34.8 M oz. Ag (Inferred) which with upcoming drill plan will be expanded.

Continental Gold Provides Buriticá Project Construction Update

Continental Gold Inc. (TSX:CNL; OTCQX:CGOOF) has assured the market that construction at the Buriticá project is still on track for H12020. This announcement follows the companies recent drill results as they explore project upside, extending BMZ1 target to more than 400 vertical metres with short intercepts of very high-grade gold ranging between 10 to 86 g/t Au.

Kura 107 - Au-Ag HS epithermal close to NGEx's Los Helados project

Kura 107 - Au-Ag HS epithermal close to NGEx's Los Helados project

In the Miocene Gold Province, between the northern Maricunga and the southern El Indio Pascua Lama belt, Kura 107 or Project Paz has a temporal and spatial relation with NGEx's Los Helados (2.9 Bt @ 0.4% Cu).
Kura 107 boasts a hydrothermal alteration footprint covering 1km2 including several high-sulphidation 'steam-heated' lithocaps with gold anomalies up to 0.76 g/t Au.

Revelo Provides Update for its Arrieros Copper Project in Northern Chile

Revelo Resources Corp. (TSXV: RVL) reveals the Arreiro property’s magnetic anomalies following a ground magnetics survey in the hope to attract a JV partner to drill the targets. The Arreiros project is between the giant Chuquicamata and Centinela porphyry copper mining districts and was separated by Revelo from the Montezuma project as deemed a project of its own.

Northeastwards Continuation of Mineralization at Tarso

Coro Mining Corp. (TSX: COP) has reported results from 40 RC holes at the Tarso area extending mineralization to the NE from Atahualpa and completing the phase 2 program that will form base for their updated resource in September. The results show consistent high-grade copper and some close to surface, yet whilst Coro may be the talk of the town in Chile’s mining sector, the market’s reaction was not so upbeat.