Cobriza Metals, a mineral exploration firm, has announced that it has completed high resolution helicopter-borne magnetic survey at the Miraflores project.
This survey covered about 395 line kilometres of the project. The company is currently carrying out data processing and analysis. The data will be utilized to specifically outline structural and geological characteristics and eventually to choose drill target areas.
Miraflores project is a 1,800 ha porphyry under-explored system containing copper, gold and molybdenum in North Peru, 70 km towards the northeastern part of Trujillo. The company considers that the project has the capability to contain porphyry mineralization bearing copper, gold and molybdenum, based on previous rock sampling and reconnaissance scale geological mapping.
The limited surface exploration results include rock samples having grades of copper, gold and molybdenum of up to 1.2%, 15 g/t, and 200 ppm, respectively, from grab samples or outcrop’s short chip samples.
The company’s initial mapping program located argillic and phyllic alteration, which includes a potassic altered breccia that grade locally outward to propylitic alteration. The Miraflores porphyry system stays exposed in all directions and is calculated at about 1 x 1.5 km in dimension. The company has not completed the drilling program. Currently, the aerial magnetic survey equipment and crews are arriving at the Don Gregorio project.
Cobriza Metals is concentrating on exploration and expansion of base metal projects located in Latin America and Peru, and focused primarily on exploration of Miraflores, Don Gregorio and Arikepay projects.