Alliance secures options over Chilean Copper-Gold Properties and International Goldfields provides an exploration update.
Alliance Resources Limited (ASX: AGS) has announced that its subsidiary Alliance (Chile) Pty Ltd has secured option agreements to explore and acquire 100% interest in copper-gold properties in Cabeza de Vaca district of Atacama Region lll close to the mining centre of Copiapo, in northern Chile’s iron-oxide copper-belt.
These properties include the Ceci mine and the Paola exploration licence. Negotiations are well advanced to acquire additional mine properties in the district. Alliance Chile has also submitted an application to acquire a mining concession over an additional 25 hectares contiguous with the Ceci property. Surface and underground mine workings, hydrothermal alteration, copper showings and geochemical rock chip sampling, define a 10 km square area on the Cabeza de Vaca properties that contains numerous distinct zones of copper-gold mineralization associated with quartz- tourmaline breccias and sheeted vein systems.
(above, image from Alliance Resources Ltd)
IGS has completed a 577 hole auger program at the Tanala Project, and encountered a seven km, northwest trending zone of gold anomalism, in addition to several other anomalous gold results that will require follow-up work. The new anomalous gold zone matches regional structural trends, and is hosted by Birimian-aged greenstone sediments.
At the Company's central Kahola Project licence, in the Ivory Coast, surface geochemistry sampling was completed. (results are pending)
The Kahola Project (2,995km2) is located just over 60km to the northeast of the Angovia deposit (0.5Moz Au) and is situated on the western margin of the structural corridor that is host to the 1.3Moz Au Bonikro deposit. Stream sampling programmes are in progress at two of the licence areas and the terrain is well suited for this style of surface geochemistry. The surface geochemistry is anticipated to refine targeting of detailed surface geochemistry soil and auger programmes in follow-up work.
(above, image from International Goldfields Ltd)