Bethania Project
The 3,342 hectare Bethania Project includes a 2,400 hectare block of exploration concessions belonging to Minera IRL S.A., as well as the “El Alcatraz 12” concession (942 hectare), on which a mining transfer and option contract was signed with Minera Monterrico Perú S.A.C. on September 01st.
The Bethania Project is located in the Huancavelica province of the Huancavelica department of central Perú, some 10 Km southeast of the Minera IRL S.A. Corihuarmi Gold Mine. Access from Lima is along 330 Km of paved highway to Huancayo, followed by 120 km to the Bethania village along a well maintained secondary dirt road.
The Project is situated in the central Andes of Perú. It is hosted within a package of mid- to late-Tertiary volcanics which conform to the same northwest-southeast trending alteration belt in which the Corihuarmi Mine is located.
“El Alcatraz 12” was explored in 1994 by Queenstake Resources LTD who, in response to the recognition of TM image anomalies, conducted surface sampling and geological mapping on the property. In 1996 Queenstake’s results motivated the signing of a Joint Venture with Minera Newcrest Peru S.A. Under the terms of the JV Newcrest conducted additional geological mapping and geophysical ground magnetic and IP studies, identifying several prospective geophysical targets.
A total of 15 reverse circulation and diamond drill drill-holes were completed by Newcrest. Ground magnetic anomalies, measuring up 500 x 180 m and occurring over dacitic porphyry intrusive which in turn is partially overlain by andesitic flows, have been partially tested by surface drilling. Likewise, chargeability and resistivity studies have identified several prospective exploration areas unexplored by drilling.
Recent reconnaissance geochemical rock sampling has revealed anomalous gold grades of up to 1.04 g/t Au on surface. These gold values are associated with and related to a stockwork array of fine quartz veinlets occurring within an alteration assemblage that includes biotite, smectite, sericite, pyrite and specularite. Previous drilling during 1996 revealed a mineralised interval of 150m @ 0.33g/t Au and 0.13% Cu from surface.
An exploration program which includes surface mapping, geochemical sampling and an extension of the historical geophysical IP study has been implemented over this prospective target. It is projected that Minera IRL S.A. will initiate drilling once the necessary exploration environmental permits have been granted.
Quartz stockwork veinlets located within a sericite, smectite, secondary biotite, pyrite, specularite, assemblage.
Bethania Project: Locality Map
Cerro Bethania: ground magnetic and chargeability anomalies overlying a dacitic porphyry
Summary of Drill Results
Cross Sections
Assay Information
Plan