The Palta Dorada Au-Ag-Cu Property is located in the Ancash Mining Department in Northern Peru and covers an area of approximately 1200 hectares. Infrastructure is considered excellent.
Location of the Palta Dorada Project
Peruvian Metals has the option to earn 50% by spending $250,000 US on direct capital expenditures. A memorandum of Understanding (“MOU”) establishes a joint effort to explore and develop the property. Any sales from metal concentrates produced from the bulk sampling activity will be shared between companies less operational expenses. The Property is accessible from the Peruvian Metals’ Aguila Norte Processing Plant by approximately 180 kms of mainly paved roadway.
Limited surface mapping and sampling has identified several oxide Au-Ag veins hosted in granodioritic rocks. The previous owner completed a number of workings allowing for access to several levels for exploration and bulk sampling. The main working is a 53 metre shaft where miners hoisted mineral to the surface. Seven chip samples have been taken from quartz veins containing sulphides in the shaft at various depths. Results from these samples range from 3.06 g/t Au to 24.1 g/t Au, 36 g/t Ag to 865 g/t Ag and 0.22% Cu to 4.94% Cu over an average width of 60 centimeters. The weighted average of the quartz-sulphide vein is 10.51 g/t Au, 329 g/t Ag and 1.71% Cu over the 60 centimeters. The mineralized ENE-WSW mesothermal vein exposed in this main working has been observed over an 800 metre strike length on surface. The oxide-sulphide transition occurs at approximately 25 metres below surface. Samples taken in the oxide zone returned up to 55 g/t Au.