Auplata (Euronext Growth - FR0010397760 - ALAUP) is pleased to report the results of a maiden NI 43-101 resource estimate completed for the El Santo polymetallic epithermal deposit (El Santo, Suyckutambo and San Miguel Properties) and to announce filling of a NI 43-101 Technical Report on its Condoroma Property, Peru.
El Santo – NI 43-101 resource estimates highlights
The El Santo Project is located on the El Santo, Suyckutambo and San Miguel Properties nearby the town of Caylloma and approximately 260km north-northwest of Arequipa (Peru). Mined ore material from the El Santo mine is processed at the Ana Maria mineral processing plant located in the Suyckutambo property nearby the historic Suykutambo mine.
The resource estimates include five (5) polymetallic epithermal veins: El Diablo, El Angel, El Santo, Gianina and Vanessa.
Based on a cut-off NSR of 80 US$/t:
- Measured and Indicated Resources represents a total of 296,000 tonnes at a NSR of 175 US$/t, and grades of 0.21 g/t Au, 52.77 g/t Ag, 0.33% Cu, 3.61% Pb, and 6.34% Zn;
- Inferred Resource represents a total of 187,500 tonnes at a NSR of 154 US$/t, and grades of 0.17 g/t Au, 60.30 g/t Ag, 0.30% Cu, 3.59% Pb, and 4.86% Zn.
The resource estimates follow NI 43-101, Canada Institute of mining (CIM) definitions and guidelines and have been completed by independent and qualified persons;
Recent extension drilling (not included at the resource database cut-off date) illustrates the potential for extension at depth. At this stage, it is reasonable to believe that an exploration potential somewhere between 200,000 to 300,000 tonnes of mineralization at grades between 0.1 to 0.3 g/t Au, 30 to 60 g/t Ag, 0.1 to 0.3% Cu, 1.5 to 3.5% Pb and 3 to 5% Zn may be added by drilling the extensions of currently defined mineralized zones. This exploration target is not a mineral resource estimate and is conceptual in nature. There has been insufficient exploration to define this as a mineral resource, and it is uncertain if further exploration will result in the exploration target being designated as a mineral resource.
The mineralization found at El Santo is typical of low-sulfidation epithermal deposits. Mineralization in the property is mainly hosted in El Diablo, El Santo and Gianina veins. These structures have an approximate E-W orientation and subvertical inclination. Between these structures occur other tensional mineralized structures such as El Angel, Sheila, Yuliana, as well as several splays from the previous ones.
Condoroma – NI 43-101 Technical Report highlights
The Property is located approximately 12 km northeast of the town of Condoroma and about 50 km east of El Santo Property. InnovExplo conducted a site visit that included validation of the Property's mineralization. The geological setting of the Property is highly favourable for several styles of mineralization such as epithermal and intrusion-related deposits (porphyries and skarns).
The Property is located in the historical Condoroma mining district where the mineral potential is evidenced by Ag-rich base metal low-sulphidation epithermal vein mineralization at the past-producing Condoroma, Cata and Antonio Raymondi mines. Several prospects and abandoned exploration pits have also been documented in the Property area. InnovExplo believes that the Property is underexplored.
Further exploration work is warranted as the Property contains several surface indications of a possible porphyry deposit at depth, in particular in the Don Paul I and Don Paul Il concession areas. This geological environment is also characteristic of high-sulphidation epithermal deposits and further exploration efforts should also contemplate this style of deposit. The potential for additional low-sulphidation epithermal vein mineralization should be assessed by modern exploration methods such as geophysics, coupled with structural interpretations and directional drilling. The Condoroma Property could also be reassessed for its bulk tonnage potential.
Quality control and qualified person
The geological and technical information contained in this press release have been validated by Claude Savard, P.Geo. (OGQ #1057), Harold Brisson (OIQ #41433), Gustavo Durieux (OGQ #1148) and Alain Carrier, M.Sc., P.Geo. (OGQ #281) from the InnovExplo firm, all qualified and independent persons under NI 43-101. The Technical Report compliant to NI 43-101, supporting El Santo resource estimates (this press release) which will be entitled “NI 43-101 Technical Report for the El Santo, Suyckutambo and San Miguel Properties (Peru) and Mineral Resource Estimate for the El Santo Mine”, will be available within the regulatory deadlines. The Technical Report compliant to NI 43-101 for the Condoroma Property (Peru), entitled “NI 43-101 Technical Report for the Condoroma Property, Espinar Province, Cusco Department, Peru”, is available on Auplata website (https://auplata.fr/fr/) and Brexia website (http://brexia.pe).
Based in French Guiana, Auplata is the largest French, stock-market listed gold producer. The Company has more than 700 sq km of mining permits and titles in French Guyana. Auplata operates an innovative industrial and financial strategy, aimed at developing and exploiting Guianese gold resources with the strong involvement of local players. The Company's objective is to offer sustainable exploitation for the Guianese mining industry. Since June 2015, Auplata is a shareholder in the Co?te d'Ivoire mining company OMCI, which owns two mining projects in Co?te d'Ivoire.
Auplata's share are listed on the Euronext Growth market in Paris (Euronext). ISIN: FR0010397760 – ALAUP; ICB: 1777 – Gold Mining.
For more information about Auplata, go to: www.auplata.com.