GPM Metals Inc. (the "Company" or "GPM") is pleased to announce an exploration update and the initial sampling results of the Pasco Project, Department of Pasco, Peru.
The 100% owned Pasco claims (6,300 hectares) are located in the Central Peruvian Zinc belt approximately 30 Km NE of the Cerro de Pasco Mine and 35km N of the Votorantim / Pan American owned Shalipayco discovery.
Mineralisation is hosted within a 5km by 500m zone of dolomitized limestones of the prolific Pucara Formation, at the contact with the Mitu Formation, within a regional scale anticline. Structurally, on a district scale, the mineralisation is located at the intersection of a North South trending basement / basin margin structure and the North East oriented Chancay -- Cerro de Pasco Megafracture which cuts and offsets the Coastal Batholith, and forced igneous migration eastwards during the Cenozoic era.
The style of mineralisation is carbonate replacement, though structurally hosted Au and Cu / Au mineralisation in adjacent claims suggests potential for later overprints of intrusive related mineralisation.
A systematic soil grid of 2,564 samples covering a 3km by 4.5km area was has been completed. XRF analysis of the samples has defined a 4.25km by 1 km trend anomalous in Silver (20ppm to 152ppm), Lead (100ppm to 3.97%) and Zinc (1000ppm to 2.7%). Two zones highly anomalous in lead and zinc have been delineated. The southern anomaly is currently 1.2km by 500m and open to the south and the northern anomaly is 500m by 500m.
Grab samples containing up to 13.3% Zinc, 19.15% Lead and 466ppm Silver have been collected from relatively fresh outcrops within the system. 130 five meter long channel rock chip samples have also been collected. In the southern anomaly, samples of strongly weathered and leached outcrop are generally anomalous in Lead and Silver, with 75m @ 9.4ppm Silver and 4075ppm Lead in Trench 1 being the best result to date.
Location and sampling results are available at the Company web site link / Projects - Peru
Asesores y Consultores Mineros S.A. have been engaged to complete an ESIA study which will take a minimum of 150 days to complete and be approved by the Environmental Studies General Directorate, Peruvian Ministry of Energy and Mines as a prelude to a drill program.
Sampling and Assay methodology:
Soil samples were taken on a grid of 50 by 50 meters. The soil samples were taken from the B horizon at 25 to 30 cm depth from the surface. The weight of each sample was 2-3 kilograms. The soil samples were analyzed using XRF (The DELTA Handheld XRF model DCC-6000) on site.
Rock Chip samples were taken in continuous channels of 30 to 75 meters long. Individual samples were 5m in length. An electric hammer was used for rock sampling. The weight of each sample was 3.5-4.5 kilograms. Rock samples were assayed at ALS Chemex Lab in Lima Peru using their ME-ICP61 (33 Elements four acid ICP-AES) method.