Jun 3 2014
Aegean Metals Group Inc. is pleased to announce the staking of two new exploration prospects in the main porphyry-epithermal belt of northern Chile's Region III.
The Doña Ines and Exploradora East properties were identified in February 2014, as part of a regional target generation program designed by the Company to locate covered porphyry and/or epithermal targets. The prospect areas were subsequently staked and are covered by a total of 7,700 Ha of active exploration claims: 3,300 Ha at Doña Ines and 4,400 Ha at Exploradora East.
The Doña Ines property is located within an underexplored, predominantly Miocene-age volcanic arc that extends from the northern limit of the Maricunga porphyry-epithermal belt to the Peruvian border. Recent discoveries within this Miocene-age belt include Gold Field Ltd.'s Salares Norte property (Inferred Resource of 23 Mt @ 4.2 g/t Au and 44 g/t Ag) and Pircas prospect (oxidized high sulfidation Epithermal system), which are located approximately 20 km E and 22 km SE of the Doña Ines property, respectively.
The Exploradora East prospect lies within the Eocene-age porphyry copper belt, and is located approximately 60 km NNE of CODELCO's El Salvador porphyry copper mine and 10 km E of CODELCO's Exploradora porphyry prospect. The target concept at Exploradora East is for the discovery of a porphyry copper system at the intersection of prominent NE-trending structures and the main NS-trending porphyry belt.
As the Doña Ines prospect is mostly convered by a thin layer of post mineralization overburden and the Exploradora East prospect is largely covered by post mineralization ignimbrites, an initial evaluation is currently being undertaken on both Properties using partial leach (MMI) soil sampling and expected follow-up ground geophysics (magnetics and IP).