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Location: 150 km E from Chañaral, Chile
Suite 12.07 – Level 12 14 Martin PlaceSydneyNew South Wales, Australia2000
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Three deposits Arqueros, Chimberos and Teterita, collectively form the Nueva Esperanza Project located 140 km northeast of the city of Copiapo in the Atacama Region of Chile.The geology of the project is characterised by hydrothermally altered Tertiary acid (dacite) volcanics associated with the Miocene-aged Cerro Bravos stratavolcano, overlying Paleozoic metasedimets. It contains a number of mineralised sectors, including Arqueros, Teterita, Huantajaya and Chimberos within the Esperanza alteration system. Arqueros, Huantajaya and Chimberos have been mined previously.Arqueros, which has been previously exploited by underground stoping methods is hosted in high sulphidation epithermal alteration of stratified Tertiary dacitic lapilli tuffs and breccias. Mineralisation is dominated by silver in horizontal stratabound “mantos” with intersecting vertical silicified mineralised (silver and gold) veins. Chimberos, which has been previously exploited by open cut mining is located in an up-thrown block of folded Palaeozoic conglomerates, sandstone and shale. Mineralisation is hosted by silicified hydrothermal breccia bodies in a high sulphidation epithermal system. The western portion contains more gold with less silver whereas the eastern portion is more silver rich (halides) with some gold as electrum.Teterita is a similar albeit much smaller deposit than Arqueros, has not been previously mined and is comprised of oxidised mantos-style mineralisation, containing silver halides also hosted in high sulphidation epithermal alteration of stratified Tertiary dacitic lapilli tuffs and breccias.The mineralisation interpretations are based on geological knowledge acquired from field mapping (surface, open-pit and underground workings), and detailed geological core and chip logging, including development of robust three-dimensional models of the major rock types and structures. DimensionsArqueros extends approximately 1.9km north-south overall by approximately 800m east-west and 350m below surface. The mineralised manto at Arqueros trends N15°E and dips 15°NW and is approximately 1500m long, 270m wide and 40m thick on average. Teterita extends about 700m north-south by approximately 550m eastwest and 140m below surface. The mineralised manto is sub-horizontal with azimuth of N15°E and dips 3 °NW with approximate dimensions of 650m in length, 180m wide and 60m thick on average. Chimberos extends around 350m north-south by approximately 1km east-west and 300m below original surface. The deposit consists of two main mineralised zones associated with hydrothermal breccias, the main silver dominant mineralised zone strikes east-west with a cylindrical shape and was previously mined by open-pit, the western hydrothermal breccia veins associated with gold and silver mineralisation trend eastwest and dip at an average 70°NE.
