The Pan de Azucar Project is located in Santa Cruz Province of Patagonia, Argentina. Geologically Pan de Azucar is situated in the Deseado Massif; a plateau consisting of Middle to Upper Jurassic age volcanic rocks that host fracture controlled low sulfidation epithermal Au-Ag mineralization. In the past decade the Deseado Massif has been emerging as a world-class epithermal vein province which already hosts the Cerro Vanguardia, Cerro Negro and Cerro Moro epithermal vein fields; combined total more than 10 Moz Au.
At Pan de Azucar, further mapping and sampling has confirmed an outcropping epithermal vein with elevated gold and silver values over a strike length of some 1,300 meters. In addition, a gold anomalous breccias envelope has been mapped over a 300 meter portion of the vein. Scout drilling was completed in the fourth quarter of 2010. The assay results were announced on 22 February 2011 from the first pass diamond drilling program at Pan de Azucar, one of many prospects within Minera IRL’s 2,700 square kilometres of exploration licences in the Deseado Massif in Patagonia. Twenty seven holes were drilled for a total of 3,976 meters. This program probed a 950 meter strike length with staggered holes which targeted the vein structure between 30 and 160 meters below surface. This drilling at the Pan de Azucar prospect is the first step in a much larger program to explore more than 8 kilometres of other outcropping epithermal veins within the Chispas Vein Field.
Selected intercepts for the Pan de Azucar drilling are shown in the table below.
|
Hole
PDA-D10
|
Intercept
|
Assay – g/t
|
Host
|
|
From
|
To
|
Meters
|
Au
|
Ag
|
|
001
|
68.4
|
69.5
|
1.1
|
5.10
|
650
|
Fault structure
|
|
005
including
|
48.0
49.6
|
51.25
50.3
|
3.25
0.7
|
5.81
15.5
|
5.55
21.4
|
Vein
Vein
|
|
009
|
45.95
|
50.95
|
1.0
|
2.61
|
12.1
|
Vein
|
|
011
|
88.47
|
89.08
|
0.61
|
3.00
|
80.2
|
Vein
|
|
017
|
47.80
|
49.14
|
1.34
|
2.89
|
7.31
|
Splay
|
|
019
and
|
78.02
114.3
|
80.00
129.96
|
1.98
15.66
|
3.51
3.37
|
8.28
11.2
|
Vein
Fracture zone
|
|
021
|
96.0
|
101.0
|
5.0
|
3.48
|
7.98
|
Vein
|
|
022
|
134.42
|
135.33
|
0.91
|
5.68
|
12.1
|
Vein
|
|
025
and
|
131.45
135.0
|
131.85
137.0
|
0.4
2.0
|
21.5
2.67
|
2.6
37.1
|
Splay
Vein
|
Regional Vein Location Map_Pan de Azucar Project_17th February
Regional Geology Map_Pan de Azucar Project_17th February, 2011
Pan de Azucar_Drill Hole Plan Map (GK´69 Faja2)_17th February, 2011
Pan de Azucar_Drill Hole Plan Map (Local Grid)_17th February, 2011
Pan de Azucar_Section Line 625mN_17th February, 2011
Pan de Azucar_Section Line 750mN_17th February, 2011
Pan de Azucar_Section Line 775mN_17th February, 2011
Pan de Azucar_Section Line 1000mN_17th February, 2011
Pan de Azucar_Section Line 1050mN_17th February, 2011
Pan de Azucar_Long Section_All Structural Intercepts_18th Feb, 2011
Pan de Azucar_Drill Hole Intercepts_GK2_18th February, 2011
Pan de Azucar 1stVD Airborne Magnetic Image
Pan de Azucar Area
Southern section of Pan de Azucar vein structure