Atacama Copper Intercepts 27.8 g/t AuEq over 1.2 m and 6.3 g/t AuEq over 2.2 m at its Cristina Project in Chihuahua Mexico
Atacama Copper Intercepts 27.8 g/t AuEq over
1.2 m and 6.3 g/t AuEq over 2.2 m at its
Cristina Project in Chihuahua Mexico
Vancouver, British Columbia--(Newsfile Corp. - July 8, 2024) - Atacama Copper Corporation (TSXV:
ACOP) ("
Atacama
" or the "
Company
") is pleased to report results from five holes of a 10,000-metre
diamond drilling program at its wholly-owned Cristina precious metals project in southwestern
Chihuahua State, Mexico. Atacama has now reported fifteen holes totalling 4,467.5 metres of drilling as
part of a 40-50-hole drill program. The Cristina project consists of multiple outcropping quartz veins that
are frequently greater than 10 metres in width and extend for at least a five-kilometre strike length. Four
parallel mineralized vein zones have been mapped and sampled to date, with most of the existing
mineral resource estimate at Cristina contained within only one of the vein zones, the Guadalupe vein
(Figures 1 and 2).
Drilling Highlights
Highlights of the holes reported here, all from the eastern portion of the main Guadalupe vein system,
include:
27.8 g/t AuEq over 1.2 m
estimated true width (22.3 g/t Au, 184.0 g/t Ag, 0.87% Zn, 0.82% Pb
and 1.42% Cu) in hole
ACD24-235
This 1.2 m wide intercept occurs within a broader zone of mineralization measuring 2.43 g/t
AuEq over 20.5 m estimated true width (1.56 g/t Au, 24.5 g/t Ag, 0.31% Zn 0.27% Pb and
0.17% Cu)
6.29 g/t AuEq over 2.2 m
estimate true width (0.84 g/t Au, 69.4 g/t Ag, 6.20% Zn, 2.10% Pb and
0.26% Cu) in hole
ACD24-232
This 2.2 m wide intercept occurs within a broader mineralized zone measuring 2.79 g/t AuEq
over 9.0 m estimated true width (0.70 g/t Au, 33.1 g/t Ag, 2.12% Zn, 0.71% Pb, 0.15% Cu).
6.52 g/t AuEq over 0.7 m
estimated true width (0.65 g/t Au, 65.1 g/t Ag, 7.22% Zn, 2.41 % Pb,
0.14% Cu) in hole
ACD24-233
This 0.7 m wide intercept occurs within a broader mineralized zone measuring 1.21 g/t AuEq
over 20.0 m estimated true width (0.43 g/t Au, 19.6 g/t Ag, 0.56% Zn, 0.24% Pb, 0.06% Cu).
5.10 g/t AuEq over 2.9 m
estimated true width (2.78 g/t Au, 75.0 g/t Ag, 0.98% Zn, 0.66% Pb and
0.33% Cu) also in hole
ACD24-234
This 2.9 m wide intercept occurs within a broader mineralized zone measuring 2.24 g/t AuEq
over 14.0 m estimated true width (0.96 g/t Au, 39.2 g/t Ag, 0.71% Zn, 0.41% Pb and 0.13%
Cu).
Tim Warman, Atacama's CEO, commented: "Cristina continues to deliver high-grade drill results over
significant widths from the Guadalupe vein, as we work to delineate and define a robust underground
resource estimate. We've seen some of the highest gold grades encountered at the project in hole
ACD24-235 at shallow depths, and mineralization remains open at depth across this most recently
targeted western high-grade horizon."
Geology and Context of Results
All five holes reported here were drilled towards the western end of the Guadalupe vein system.:
ACD24-231 encountered relatively low grades defining the upper limits of the higher-grade horizon
marked by strong continuous grade in previous holes drilled deeper on this section (Figures 3 &
4). The mineralization remains open at depth.
ACD24-232 fills in a gap and demonstrates continuity of high-grade mineralization over
approximately 200 vertical metres in this part of the vein (Figures 3 & 5), with mineralization open
at depth.
ACD24-233 and -234 both intercepted higher-grade mineralization to approximately 150 m below
the base of the resource pit filling a gap and adding continuity to the higher-grade horizon (Figures
3 & 6), with mineralization open at depth.
ACD24-235 was intended to fill in a near-surface gap in drilling and encountered some of the
highest gold grades yet at Cristina, with a 27.8 g/t AuEq intercept over 1.2 m estimated true width
including a gold component of 22.8 g/t Au (Figures 3 & 6, Table 1). This hole expands the near
surface, higher grade horizon further to the east and demonstrates a vertical extent of
approximately 250 metres from surface, remaining open at depth.
The Cristina deposit is an epithermal to mesothermal vein system where the mineralisation is
predominantly gold and silver, with lesser base metal values. At least four known parallel vein zones
trend east-west to northeast-southwest and are hosted in an andesitic volcanic sequence which forms
part of the Lower Volcanic Sequence of the Sierra Madre Occidental range. The andesites are
intercalated locally with dacitic intrusions and related lava flows and breccias, and the sequence is in turn
cut by andesitic and hornblende-plagioclase porphyry following fault trends. In some areas the veins are
covered by post-mineral rhyolite of the Upper Volcanic Sequence.
Cristina is similar in style and grade to Fresnillo's nearby and very profitable San Julián underground
mine, which hosts mineralisation in two different types of ore bodies: (i) narrow low-sulphidation
epithermal veins and (ii) broader zones of lower-grade disseminated sulphides in subvolcanic and
volcanic felsic rocks. San Julián is the third largest silver mine in Mexico, having produced 13.3 Moz of
silver and 44.5 koz of gold in 2023. Fresnillo reported 2P underground mineable Reserves at San Julián
of:
Ore Type
Mt
Au (g/t)
Ag (g/t)
Zn (%)
Pb (%)
AuEq*
Epithermal Veins
4.3
1.52
327
6.06
Disseminated Ore
Body
2.2
0.11
157
1.09
0.5
3.06
Total
6.5
1.04
269
5.05
*Fresnillo plc Annual Report and Accounts 2023, pg. 339 (
www.fresnilloplc.com/media/mumbsyvj/44314-fres-annual-report-2023-web.pdf
) Gold
equivalent formula: AuEq = Au + 0.014*Ag + 0.532*Zn + 0.379*Pb + 1.525*Cu (recoveries were assumed to be 100%). Metal Prices used: $1700/oz
Au, $23.61/oz Ag, $1.32/lb Zn, $0.94/lb Pb and $3.78/lb Cu.
Drill results will continue to be received over the next few months as the program takes a short break
during the peak of the rainy season in Mexico. Drilling will resume in September and continue through
the winter months.
Figure 1- Known vein systems and existing drill holes at the Cristina Project.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7505/215709_c53deca9a46f6baa_001full.jpg
Resource pit in Figures 1 through 7 is based on the National Instrument 43-101 compliant report titled
“Technical Report on the Mineral Resource for the Cristina Project” prepared for TCP1 and Atacama
Copper by Independent Mining Consultants Inc., with an effective date of January 1, 2023, and issue
date of December 1, 2023.
Figure 2 – Location of drill holes from the current release, Guadalupe vein system
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7505/215709_c53deca9a46f6baa_002full.jpg
Figure 3 – Long section through the Guadalupe vein system with drill holes from the current
release
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7505/215709_c53deca9a46f6baa_003full.jpg
Figure 4 – Cross-section through the Guadalupe vein system with holes ACD24-231, showing
grades increasing at depth below this hole.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7505/215709_c53deca9a46f6baa_004full.jpg
Figure 5 – Cross-section through the Guadalupe vein system with hole ACD24-232 showing
excellent continuity of the high-grade zone over several hundred vertical metres.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7505/215709_c53deca9a46f6baa_005full.jpg
Figure 6 – Cross-section through the Guadalupe vein system with hole ACD24-233 and -234.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7505/215709_c53deca9a46f6baa_006full.jpg
Figure 7 – Cross-section through the Guadalupe vein system with hole ACD24-235.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7505/215709_c53deca9a46f6baa_007full.jpg
Table 1: Detailed Drill Results
Drill Hole
From
(m)
To
(m)
Drill
length
(m)
Est. True
width
(m)
Au
g/t
Ag
g/t
Zn
%
Pb
%
Cu
%
AuEq
g/t
Vein
System
ACD24-
231
220.0
224.9
4.9
4.3
0.33
14.8
0.21
0.07
0.05
0.75
Guadalupe
and
228.9
235.4
6.5
5.8
0.43
11.9
0.26
0.08
0.03
0.81
Guadalupe
ACD24-
232
343.5
354.7
11.2
9.0
0.70
33.1
2.12
0.71
0.15
2.79
Guadalupe
incl.
349.5
352.3
2.8
2.2
0.84
69.4
6.20
2.10
0.26
6.30
Guadalupe
and
370.8
372.1
1.3
1.0
0.44
78.1
1.63
0.07
1.52
4.73
Guadalupe
ACD24-
233
278.8
301.25
22.5
20.0
0.43
19.6
0.60
0.24
0.06
1.21
Guadalupe
incl.
282.8
283.55
0.8
0.7
0.65
65.1
7.22
2.41
0.14
6.52
Guadalupe
ACD24-
234
218.3
234.3
16
14.0
0.96
39.2
0.71
0.41
0.13
2.24
Guadalupe
incl.
231
234.3
3.3
2.9
2.78
75.0
0.33
0.66
0.98
5.10
Guadalupe
ACD24-
235
38.7
61.6
22.9
20.5
1.56
24.5
0.31
0.27
0.17
2.43
Guadalupe
incl.
49.3
50.6
1.3
1.2
22.30
184.0
0.87
0.82
1.42
27.80
Guadalupe