Oct 23 2017
GPM Metals Inc. announces that the company has completed an 8 hole, 2,000m diamond drill program at the Pasco Project in Central Peru.
Drilling was concentrated in the southern portion of the 4.5 km by 500m alteration system located on a major NW trending fault at the contact of the Pucara limestone and Mitu conglomerates.
Drilling encountered dolomitized, brecciated, quartz and carbonate vein stockworked limestones, with up to 10% sulphides and 10% carbon in veins and breccia matrix, over the entire length of the 8 holes. The holes were drilled over an area of 1.2km (N/S) and 400m (E/W).
Anomalous Ag, Pb, Zn and Cu mineralisation was intersected in all holes, but economic grades have yet to be encountered.
Drill hole locations, drill core photographs and assay tables are available at the company's web site. https://gpmmetals.com/
Mineralisation and brecciation appears to increase in intensity to the north and adjacent to the Pucara Formation / Mitu Formation contact, suggesting that the basin margin structure that forms this contact is a main conduit for the mineralising fluids, possibly sourced from the Dacite Dome Complex to the north of area drilled.
Large volumes of carbon as vein and fracture fill deposited along with sulphides, suggesthttps://gpmmetals.com/s fluid mixing of hydrocarbons and metalliferous fluids. Preliminary petrology indicates two phases of mineralisation; Galena (Lead), Sphalerite (Zinc) mineralisation overprinted by a Tetrahedrite (Copper / Silver) event.
Drilling targeted the southern portion of a 4.25km by 500m alteration system with soils anomalous in Silver (20ppm to 152ppm), Lead (100ppm to 3.97%) and Zinc (1000ppm to 2.7%). A north-east trending glaciated valley separates the southern anomaly which is currently 1.2km by 500m and open to the south and the northern anomaly. A second phase drill program at the northern anomalous zone is being prioritized.
The Pasco Project is a district scale, greenfields, base metal discovery. These concessions had not been subjected to modern mineral exploration or drilling prior to the current program.
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
Walker Gossan Project, Arnhem Land, NT, Australia update
The Work Program Meeting for EL 24305 is to be held this year and cover 2017/2018 work programmes.
The application areas subject to the Rio Tinto Exploration agreement are being progressed with final meetings due in 2018.
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