Cobriza Metals, a mineral exploration company, has reported that the company began the drill program at the Arikepay project on June 6, 2012.
The property comprises shallow porphyry deposit, exhibited by typical porphyry alteration in an outcrop, which is exposed sparsely, and strongly anomalous rock geochemistry containing molybdenum, gold, copper, and 'blind' porphyry deposit along the trend below the gravel cover. Alteration styles and the geochemical anomalies are identical to leached rocks, overlying other Andean porphyry deposits that were identified in Argentina, Chile and Peru.
High-anomalous levels of molybdenum, gold and copper are present in the first region, including 0.5 to 143 ppm of molybdenum, 50 to 2,560 ppb of gold, and 100 to 1,460 ppm of copper, in under-exposed silicic and phyllic alteration.
The second region contains under-exposed silicic and phyllic alteration extending towards the northern and north-western parts. Younger gravel covers this region, which stays exposed for more than 2,000 m.
The Arikepay property can be accessed through road around 110 km towards the southern part of the city of Arequipa, and is located 45 km towards the southern part of the 3.5 Bt Cerro Verde mine, containing copper and molybdenum, in South Peru.
Cobriza Metals focuses to explore and develop the base metal mining projects located in Latin America and Peru, and is primarily targeted to explore its three owned projects namely Miraflores, Don Gregorio, and Arikepay.
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