Taricori Target
Taricori BackgroundInformal miners from Ecuador have historically excavated 2.6 kilometres of underground development (tunnels), mining narrow, bonanza-grade gold by hand. Initial work at Taricori involved mapping and sampling of these workings, resulting in an average of 11.45 g/t gold and 130.46 g/t silver from 210 vein channel samples. With mapping completed, a comprehensive 3D geological model was constructed, leading to initial drill targeting on the deposit.
Taricori Mineralization
Mineralization at Taricori consists of gold-bearing base metal veins hosted predominantly by Middle Jurassic granodiorite and Cretaceous to Tertiary subvolcanic dacite intrusions. Minor but important gold mineralization occurs in siliciclastic sedimentary rocks and felsic epiclastic volcanic rocks.
Gold at Taricori is present in isolated veins and in veinlets that locally form vein-swarms in excess of 10 meters in thickness. Taricori veins pinch and swell locally and are interpreted to infill brittle fractures which pre- and post-date gold mineralization. Taricori veins are composed of pyrite, sphalerite and galena. Locally they contain significant amounts of carbonate gangue (calcite and rhodochrosite) with weakly developed cockade banding and crystal growth indicative of open space filling. Quartz is typically absent in gold bearing veins and is considered a minor gangue mineral. Alteration associated with gold bearing veins consists of proximal pyrite + sericite +/- illite and is gradational with distal chlorite +/- illite alteration over a few meters.
Surface and underground geological mapping has identified three mineralized vein orientations. A series of northeast-striking, moderately to steeply southeast-dipping veins are concentrated in granodiorite of the Zamora Batholith and have a periodicity of ~125-150 meters. A second set of northwest-striking, steeply northwest-dipping veins are present and cross-cut the dacite -- granodiorite contact. The third set of veins dips moderately to steeply towards the south and are spatially associated with the granodiorite -- dacite contact.
The best gold mineralization occurs at the intersection of east and northeast striking quartz veins and vein-swarms. Assay data indicate that Taricori gold veins are locally high grade (e.g. 1456.89 g/t gold, 1202 g/t silver, 13.05 ppm lead, and 6.98 ppm zinc). High grade veins are recognizable by their association with base metals and rhodochrosite.
Taricori Drilling
A total of 11,000 metres of drilling has been completed. Mineralization has been mapped and drilled over a strike length of approximately 500m and to a depth of approximately 250 metres. Best intersections include drillhole TAR-012, which intersected 18.0 metres grading 35.91 g/t gold and 46.97 g/t silver. Drillhole TAR-013 intersected 41.19 metres grading 6.74 g/t gold and 45.23 g/t silver. [TABLE - Taricori Drilling Highlights] Vein thickness and gold grade decreases eastward from Taricori. The deposit is open at depth, but further definition by drilling is hampered by topography and would require drilling of significantly deeper holes. The company's focus is to discover large gold resources of interest to mid-tier and major mining companies. Consequently it is refocusing efforts on the Cobrecon targets, which have bulk-tonnage potential.
