Espanola
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Summary
The 7,129 Hectare Espanola Copper-Gold Project is 100 kilometres southeast of Lima and hosts two high grade past producing mines and numerous underground workings. The project is located 15 km east of the producing Raul/Condestable Mines.
2009 Results
Economic mineralization on the Property is related to NNW striking steeply dipping quartz+carbonate+chalcopyrite+ bornite ± sphalerite ± magnetite veins hosted within well-defined fracture zones that formed in response to regional scale tectonism. The Rosa Maria vein, which was exploited for over 20 years, is 0.5 m to 3.0 m wide. The upper level of the mine is located within the oxidized level which is characterized by the presence of copper oxides and carbonates such as tenorite, malachite, chrysocolla and cuprite. Results from a 2007 exploration program give copper contents that vary from 0.03 % to 12.96 % and average 4.25 % (n=49). Silver concentrations vary between 0.3 to 139.0 g/t and average 16.10 g/t (n=49). Mineralization is locally gold anomalous with concentrations reaching up to 1.67 g/t.
All 2009 Results
|
Sample
|
Easting
|
Northing
|
Au
|
Ag
|
Cu
|
Zn
|
|
#
|
PSAD56
|
PSAD56
|
g/t
|
g/t
|
%
|
%
|
|
1451
|
348100
|
8609070
|
1.61
|
22.4
|
8.93
|
0.02
|
|
1452
|
348309
|
8609204
|
0.15
|
4.1
|
2.51
|
0.03
|
|
1453
|
351332
|
8609156
|
0.33
|
103.7
|
6.85
|
0.03
|
|
1454
|
351196
|
8609392
|
0.53
|
20.0
|
7.27
|
0.06
|
|
1455
|
351202
|
8609402
|
1.33
|
10.8
|
12.24
|
0.05
|
|
1456
|
351184
|
8609440
|
0.76
|
5.6
|
11.68
|
0.16
|
|
1457
|
350870
|
8609758
|
1.67
|
27.8
|
12.96
|
0.05
|
|
1458
|
350103
|
8608504
|
0.17
|
7.7
|
1.64
|
0.02
|
|
1459
|
349884
|
8608516
|
0.10
|
40.6
|
6.68
|
0.05
|
|
1460
|
349860
|
8608590
|
0.07
|
13.1
|
3.92
|
0.04
|
|
1461
|
349954
|
8608378
|
0.01
|
12.1
|
1.40
|
0.03
|
|
1462
|
349921
|
8608442
|
0.01
|
26.1
|
3.67
|
0.04
|
|
1463
|
349986
|
8608464
|
0.07
|
139.0
|
6.49
|
0.07
|
|
1464
|
349541
|
8608270
|
0.07
|
13.7
|
1.83
|
0.04
|
|
1465
|
349438
|
8608200
|
0.39
|
38.1
|
4.30
|
0.03
|
|
1466
|
349440
|
8608416
|
0.24
|
13.3
|
4.09
|
0.05
|
|
1467
|
349610
|
8607392
|
0.01
|
0.8
|
1.91
|
0.05
|
|
1468
|
349755
|
8607538
|
0.42
|
21.8
|
3.79
|
0.02
|
|
1469
|
349935
|
8607754
|
0.60
|
12.5
|
4.95
|
0.02
|
|
1470
|
349935
|
8607754
|
0.35
|
16.1
|
1.43
|
0.01
|
|
1471
|
350040
|
8607750
|
0.20
|
6.9
|
3.23
|
0.02
|
|
1472
|
350693
|
8606942
|
0.20
|
74.6
|
7.52
|
0.04
|
|
1473
|
350534
|
8606880
|
0.24
|
8.3
|
0.30
|
0.01
|
|
1474
|
350150
|
8607245
|
0.06
|
31.5
|
9.77
|
0.06
|
|
1475
|
350170
|
8607355
|
0.12
|
15.6
|
2.27
|
0.01
|
|
1476
|
351649
|
8607314
|
0.04
|
3.6
|
0.49
|
0.01
|
|
1477
|
351860
|
8607380
|
0.08
|
3.0
|
0.47
|
0.00
|
|
1478
|
352017
|
8607334
|
0.03
|
2.0
|
3.36
|
0.01
|
|
1479
|
353910
|
8605348
|
0.41
|
1.8
|
3.48
|
0.05
|
|
1480
|
353409
|
8605510
|
0.49
|
1.6
|
6.90
|
0.03
|
|
1481
|
353200
|
8605660
|
0.74
|
1.3
|
3.97
|
0.02
|
|
1482
|
353439
|
8605923
|
0.22
|
3.8
|
1.98
|
0.01
|
|
1483
|
353326
|
8605928
|
0.83
|
2.9
|
5.29
|
0.01
|
|
1484
|
353075
|
8605866
|
0.21
|
1.6
|
2.28
|
0.02
|
|
1485
|
352351
|
8605770
|
0.33
|
3.3
|
2.60
|
0.06
|
|
1486
|
352017
|
8605864
|
0.82
|
27.0
|
4.47
|
0.03
|
|
1487
|
351921
|
8606149
|
0.46
|
8.8
|
7.30
|
0.06
|
|
1488
|
351639
|
8606574
|
0.09
|
0.8
|
1.31
|
0.01
|
|
1489
|
349128
|
8612380
|
0.04
|
2.8
|
4.56
|
0.04
|
|
1490
|
349089
|
8612353
|
0.60
|
1.9
|
7.57
|
0.10
|
|
1491
|
349137
|
8612242
|
1.15
|
9.0
|
6.29
|
0.15
|
|
1492
|
350760
|
8607235
|
0.19
|
2.5
|
0.91
|
0.01
|
|
1493
|
350760
|
8607235
|
0.42
|
7.6
|
7.44
|
0.02
|
|
1494
|
350540
|
8607150
|
0.16
|
16.5
|
4.89
|
0.31
|
|
1495
|
350371
|
8607198
|
0.52
|
5.0
|
4.17
|
0.22
|
|
1496
|
350340
|
8607262
|
0.44
|
8.8
|
0.50
|
0.01
|
|
1497
|
350260
|
8607480
|
0.16
|
0.4
|
0.37
|
0.01
|
|
1498
|
352600
|
8608480
|
0.02
|
1.6
|
0.03
|
0.00
|
|
1499
|
352400
|
8608540
|
-0.01
|
0.7
|
0.04
|
0.01
|
|
1500
|
352160
|
8608610
|
-0.01
|
0.3
|
0.04
|
0.01
|
As recently as the mid-90s there were two producing copper mines on either end of the property. These mines were shut down as a result of extremely weak global copper prices. However, copper prices have risen significantly since that time and as a consequence Grenville has determined that these mines may once again prove commercial.
A total of 45 rock grab samples were also collected and reported in 2007 from various underground workings with assays ranging from 70 parts per million to 11.37 per cent copper and 0.007 to 0.794 grams of gold/tonne. Mineralization on surface is hosted by steeply dipping malachite-stained quartz veins averaging between 0.5 to 3 meters wide. In the underground workings sulphide mineralogy consists of bornite and chalcopyrite. The average of the samples was 0.19 ppm Gold and 2.51% Copper. The table lists the complete results.
|
|
Gold
ppm
|
Copper
%
|
|
Gold
ppm
|
Copper
%
|
|
01526
|
0.609
|
3.23
|
01549
|
0.027
|
0.52
|
|
01527
|
0.464
|
2.88
|
01550
|
0.011
|
0.53
|
|
01528
|
0.094
|
1.85
|
01633
|
0.043
|
5.05
|
|
01529
|
0.101
|
2.14
|
01634
|
0.018
|
1.64
|
|
01530
|
0.499
|
8.77
|
01635
|
0.185
|
4.35
|
|
01531
|
0.011
|
0.01
|
01636
|
0.597
|
2.96
|
|
01532
|
0.783
|
3.95
|
01637
|
0.189
|
0.94
|
|
01533
|
0.177
|
4.69
|
01638
|
0.283
|
2.17
|
|
01534
|
0.794
|
5.70
|
01639
|
0.052
|
2.93
|
|
01535
|
0.170
|
3.60
|
01640
|
0.111
|
5.46
|
|
01536
|
0.104
|
1.89
|
01641
|
0.103
|
0.52
|
|
01537
|
0.325
|
0.61
|
01642
|
0.457
|
11.37
|
|
01538
|
0.008
|
0.09
|
01643
|
0.189
|
5.70
|
|
01539
|
0.015
|
2.19
|
01644
|
0.239
|
4.60
|
|
01540
|
0.009
|
0.83
|
01645
|
0.189
|
1.51
|
|
01541
|
0.007
|
1.92
|
01646
|
0.189
|
3.03
|
|
01542
|
0.037
|
0.44
|
01647
|
0.048
|
1.54
|
|
01543
|
0.017
|
0.51
|
01648
|
0.114
|
0.04
|
|
01544
|
0.012
|
0.01
|
01649
|
0.364
|
1.46
|
|
01545
|
0.012
|
0.31
|
01650
|
0.445
|
3.88
|
|
01546
|
0.009
|
0.71
|
01419
|
0.142
|
0.10
|
|
01547
|
0.051
|
1.72
|
01420
|
0.153
|
2.67
|
|
01548
|
0.038
|
1.92
|
Averages
|
0.19
|
2.51
|
Results are consistent with the former producing Raul/Condestable Mines, located 15 kilometers west of Espanola. These mines have produced have produced over 20 million tons of ore grading 1.5% copper and 0.5 grams of gold per tonne.
Analyses for the samples reported herein were performed by Inspectorate Services Peru S.A.C in Lima, Peru. Inspectorate Services Peru S.A.C. is an International Organization for Standardization (“ISO”) 9000 certified laboratory. ISO 9000 certification a quality assurance model ensuring organizations develop a quality system. The official ISO explanation of the ISO 9000 group of standards be found at www.iso.ch/iso/en/iso9000-14000/index.html.