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Huantajaya
The Huantajaya Project is situated 10 kilometers south of the Neuquen Project. The project is comprised of 1,200 hectares, and is located 14 kilometers from the town of Alto Hospicio. Access is via paved road and then 10 kilometers of dirt road to the project site. Management believes that the Huantajaya Mine Acquisition Option offers the Company the opportunity to evaluate a historic mining area that has never been drilled or explored with modern techniques. The area represents multiple targets.
The historic Huantajaya silver district has been known since Inca times some 500 years ago. The district was for several centuries one of the most important silver producers in the region during the colonial and post-colonial era. Early records confirm it was exploited in the latter half of the 16th Century and again between 1720 and late 1800's. Additional sporadic mining activity took over the last 100 years during periods of high silver prices. The focus of previous mining was narrow silver veins, typically less than a meter wide, that cut an igneous intrusion and adjacent sedimentary rocks. The veins were historically extremely rich above the water table due to surface leaching and secondary enrichment of the silver. Virtually all the original bonanza ores are now believed to be exhausted down to the water table at a depth of approximately 200 meters. At least two dozen widely distributed deep shafts on the property attest to the intensity of previous mining activity. No modern exploration has been conducted in the district and no evidence of previous drilling has been encountered.
The Company is conducting an initial reconnaissance program of excavator trenching and assay sampling of all surface showings and trenches as well all accessible underground workings. An initial suite of 277 channel samples collected in three general areas on the property are reported in the May 25, 2007 News Release. The samples were analyzed for total copper and silver by ICP method, with over limit samples re-assayed by atomic absorption.
Although the property historically was known for its narrow silver veins, the assay data is presented to illustrate that the historic silver mine may have copper potential not previously considered. Selected results from the three areas are in the May 25, 2007 News Release. Huantajaya Project Area Grid Map
257 Huantajaya Samples Return Average Grade of 68 g/t Ag, 0.90% CuThe June 11, 2007 News Release reported significant silver and copper channel samples with highlights of the assay results as follows: 1. Average grade of the Santa Cruz veins is 71 gpt Ag, 0.41% Pb, 0.28% Zn, 1.05% total Cu and 0.94% soluble Cu. 2. The vein at Pit #5 averages 19 gpt Ag, 0.20% Pb, 0.43% Zn, 1.28% total Cu and 1.23% soluble Cu over an average width of 1.4 meters. 3. Average grade of all 257 assay samples is 68 g/t Ag, 0.29% Pb, 0.27% Zn, 1.00% total Cu, 0.90% acid-soluble Cu. Huantajaya Project Sample Area Grid Map
396 Huantajaya Samples Return Average of 66.4 g/t Ag, 0.68% Cu TotalThe July 4, 2007 News Release reported significant silver and copper channel samples with highlights (Complete Table of Sample Data is available below) of the assay results as follows: Area 1a: 217 samples gave average values of 47.9 g/t Ag, 0.08% Pb, 0.11% Zn, 0.75% Cu T and 0.69% soluble Cu with a average sample length of 2.25 m. Area 1b: 12 grab-type samples each over a 5 m length from a dump gave 122.5 g/t Ag, 0.04% Pb, 0.07% Zn, 0.79% Cu T and 0.75% soluble Cu. Area 3a: 100 surface samples gave average values of 5.5 g/t Ag, 0.10% Pb, 0.10% Zn, 0.53 % Cu T and 0.47% soluble Cu with an average length of 1.89 m. Area 4: 50 surface trench and pit samples gave average values of 88.9 g/t Ag, 0.09% Pb, 0.23% Zn, 0.84% Cu T and 0.79% soluble Cu with an average sample length of 2.26 m. Area 5: 4 samples collected from a surface caved area, gave 36.6 g/t Ag, 0.18% Pb, 0.11% Zn, 0.80% Cu T and 0.70% soluble Cu with an average sample length of 1.93 m. Area 6: 8 dump samples each along 5 m lengths gave 240.7 g/t Ag, 0.04% Pb, 0.11% Zn, 0.71% Cu T and 0.66% soluble Cu. Area 7: 5 dump samples, each along 5 m lengths gave 481.6 g/t Ag, 0.02% Pb, 0.06% Zn, 1.13% Cu T and 1.10% soluble Cu.
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