Minsud Resources provides an update on new diamond drill program performed at the Chita Porphyry segment, which is situated in the Chita Valley project in Argentina.
This project is a huge exploration porphyry with classic modification features, extensive porphyry mineralization containing copper, molybdenum, silver and gold, and associated polymetallic veins that have silver and gold.
The company drilled three holes, from Psu11-01 to 03, in order to examine identified copper-molybdenum mineralization, located in the Chita porphyry region. These holes were inclined at -45° to analyze for potential sub-vertical veins, containing precious metal. The drill program of 2011 has demonstrated the presence of gold-silver veins in the broader porphyry segments of copper and molybdenum.
Wide copper and molybdenum mineralization zones along with concentrations of silver-gold were identified from the three holes.
The mineralization is linked with a Miocene monzodiorite porphyry stock, which encroached into a previous assemblage that contains Carboniferous and Triassic granodiorite sediments. The porphyry style mineralization has chalcopyrite-molybdenite-pyrite-quartz mineralization, which is of stockwork and fracture fillings type. Extensive polymetallic veins, which are rich in silver and gold, are present in the country rocks that are contiguous to the Chita South Porphyry and the property’s other dykes and porphyry stocks. These country and porphyry rocks have shown epithermal or hydrothermal modification features.
Minsud is conducting comprehensive alteration and geological studies, and wide rock sampling and prospecting programs. The company is expecting to perform ground geophysical surveying, which will be necessary to outline additional drill targets.