MICHELLE PROJECT
The 143 square kilometer Michelle Project is located in mining friendly Santa Cruz Province, Argentina. Geologically Michelle is situated in the Deseado Massif; a plateau consisting of Middle to Upper Jurassic age volcanic rocks that host economically important, fracture controlled, low sulphidation epithermal gold-silver mineralization. In the last 10 years, the Deseado Massif has emerged as a world class, yet under explored, gold and silver epithermal vein province.
Exploration at Michelle has identified approximately 22 km of cumulative vein strike length immediately adjacent to AngloGold Ashanti's multi-million ounce Cerro Vanguardia gold-silver mine. Many of the veins, which can be traced at surface from Cerro Vanguardia into Minera IRL’s property, are Au-Ag bearing with classic low sulphidation epithermal textures.
To date, the Michelle and Jackpot veins represent compelling exploration targets. Assay results received from 51 surface rock samples taken at Michelle and Jackpot in June are very encouraging. Thirty-three samples returned values above 1 g/t gold, of which 16 are above 5 g/t gold. Eleven samples analyzed also assayed above 30 g/t silver (including one sample of 1,460 g/t silver).
The Michelle and Jackpot veins are hosted by flat lying, quartz-phyric, fiamme-bearing, welded ignimbrite belonging to the Jurassic Chon Aike Formation. The majority of mineralized veins at Cerro Vanguardia are hosted by similar welded ignimbrite units.
Michelle is a 1.60 km east-west striking, steeply dipping low sulphidation epithermal quartz-adularia vein. The principle quartz-lode structure is up to 1.5 m wide and may have parallel veins associated with it (expressed through subtle float concentrations on either side). The vein consists of chalcedony and cryptocrystalline quartz with abundant lattice textures, moderate crustiform-colloform banding, and vein-breccias. Surface assays and epithermal vein textures are consistent with relatively high-level exposure in the system indicating significant depth potential.
Jackpot is a 1.10 km east-west striking vein located approximately 3 km west northwest of the Michelle vein. Vein thickness and textures are similar to those at Michelle with the addition of moderate clear comb quartz, often encrusted by chalcedony. The relative abundance of crystalline quartz (though subordinate to chalcedony) suggests that Jackpot is either at a slightly deeper level than Michelle or, more likely, that the vein has undergone periods of crystallization under relatively static conditions, punctuated by rupture of the system and development of chalcedony overgrowths. This is also consistent with the abundance of vein-breccias containing fragments of silicified wallrock. These types of conditions are favourable for violent boiling that would cause gold deposition.
The exploration group is implementing a multifaceted exploration program consisting of airborne and ground geophysical methods as well as detailed mapping and sampling to vector into the most prospective parts of the project. The primary objective for the second half of 2011 is to test for high grade shoots along the Michelle and Jackpot veins and define additional drill targets along other prospective structures on the property.
Press Release 22 August 2011
MIRLP_Michelle Project location map_August,2011
MIRLP_Michelle Project local geology map_July,2011
MIRLP_Michelle Vein_Map of gold surface assay results_July, 2011
MIRLP_Michelle Vein with with Cerro Vanguardia in the distance_July,2011
MIRLP_Michelle Vein_Diamond saw channel sampling, Cerro Vanguardia in the distance_July,2011
MIRLP_Michelle Vein_Crustiform-colloform textures July, 2011
MIRLP_Jackpot Vein_Map of gold surface assay results July,2011
MIRLP Jackpot Vein_Lattice textures & crustiform-colloform banded quartz_July,2011
MIRLP_Jackpot Vein_Abundant lattice textures July, 2011
MIRLP _Gold-silver surface assay resutls table July,2011