• El Monte

    Primary Target
    Gold and Silver in Low Sulphidation Breccias in structures and mantos.

    Partner
    Available for Joint Venture

    Location
    The El Monte Cateo is located in the Santa Cruz Province of Argentina, on the Northern edge of the Deseado Massif, approximately 75 Km to the NW of the new Don Nicolas Mine which is currently in construction. The project is accessed from Fitzroy on 80 km of unpaved roads and farm tracks.

    Project Operator
    Magna Terra Minerals

    Property Information
    Magna Terra Minerals has 100% control of the El Monte I M.D. and the El Monte Cateo which constitute 10,000 Hectares on which the project is based.

    The El Monte project is ready to drill and has multiple target zones, the principal ones being found in what we term the Luna Roja Area. Targets range from footwall and hanging wall breccias at the edge of a dome complex to manto type targets at the interface between andesite flows and the base of rhyolite domes within a major dome complex. These targets are associated with a NNW striking structural corridor comprising a 3km extension of semi continuous low sulphidation Au and Ag veinlets and breccias.

    Geology: Trenching in the Luna Roja area across the Via Lactea fault, adjacent to dome rocks and argillized tuffs, has revealed several zones of continuous mineralization at the surface. Assay results in the Cruz del Sur Zone include 55 meters of 0.41 ppm Au and 13.2 ppm Ag in Trench 2 and 35 meters of 0.10 ppm Au with 7.6 ppm Ag in trench 1.

    To the west of and in the hanging wall of the Via Lactea fault there are pervasively argillized and locally silicified tufaceous rocks which suggest the possibility that fault displacement has downthrown an undetermined portion of the mineralized zone where hanging wall structures could provide a favorable environment for disseminated and vein-style mineralization.  To the east of the Via Lactea fault, a large sub-horizontal induced polarization (IP) anomaly (1,200 m x 500 m horizontal extent at >15 mV/V) could be indicative of widespread disseminated sulfide mineralization at relatively shallow depths (50-100 m) within the rhyolitic dome and at the interface between underlying andesites and the base of the rhyolitic dome complex.  Additional mineralization could be concealed by post-mineral Tertiary basalt flows, which cover the dome complex on its north, east, and south sides.

    Analyses of induced polarization (IP), prospecting, trenching and soil sampling have solidified some of our already defined targets and helped us identify new ones.  Over 1,500 rock chip, chip channel, float and trench channel samples have been taken, and 4,000 meters of trenches have been cut sampled and analyzed.  In addition over 700 soil samples have been taken and mapped.

    The most significant surface results obtained on the property are in the Cruz del Sur area of Luna Roja near the center of the El Monte cateo.  In this area, geologic mapping and sampling has identified a semi-continuous zone of low-sulfidation-style, precious-metal bearing quartz veinlets and hydrothermal breccias with silicification and adularia alteration.  Rock chip assays have yielded up to 638 ppm Ag and 8.6 ppm Au, and visible gold and visible silver sulfide/chloride minerals have been observed at several locations.  This precious metal zone follows the footwall of the through-going Via Lactea fault on the west margin of a rhyolite dome complex.