Newstrike Capital Inc. reports that a recently completed ZTEM airborne geophysical survey flown over the Company’s Aurea Norte property has successfully identified several high priority anomalies on a parallel trend with its flagship gold deposit at Ana Paula. The survey covered an area known as the San Luis Trend, an important structural corridor over ten kilometres in length that has returned anomalous assays from widespread near-surface gold mineralization.
“Preliminary ZTEM results have identified several ‘blind’ exploration targets that coincide with favourable GGB (“Guerrero Gold Belt”) style surface alteration in outcrop that includes iron oxide alteration, jasperoid breccia, silicified intrusion and skarn with associated anomalous gold values. The survey results will be used to focus exploratory drilling along this prospective trend. In addition, several new targets were identified outside this trend that will continue to be investigated as exploration advances,” said Gillian Kearvell, V.P Exploration.
A 5,000 metre exploratory drill program is expected to commence shortly that will complement the exploration activity at Aurea Norte over the past year.
Geotech Ltd of Aurora, Ontario, Canada was contracted to survey approximately 250 square kilometres encompassing 1,298 flight line kilometres flown at a line spacing of 200m. The ZTEM survey is recognized for its ability to map resistivity contrasts associated with the structure and alteration typically associated with porphyry-skarn deposits or with structurally controlled epithermal deposits. ZTEM is capable of penetrating to depths from one to two kilometres and is useful in identifying “blind” exploration targets (a buried target that does not outcrop at surface).
The objective of the Aurea Norte survey was to locate potentially buried intrusive bodies associated with the GGB mineralization model and to confirm controlling structures along the mineralized San Luis Trend. The new anomalies identified by the ZTEM survey include resistivity contrasts typical of buried silicified intrusions and with alteration commonly associated with porphyry-skarn and epithermal style deposits. See the company website for maps from this survey.
Exploration activities are currently focused on advancing the project pipeline around the Company’s flagship Ana Paula project, The Ana Paula project is located internal to and surrounded by the 59,587 hectare Aurea Norte property.
The Ana Paula project is host to a structurally controlled epithermal style gold deposit with a pit constrained resource* of 44.8 million tonnes that includes 2.25 million ounces of contained gold and 10.8 million ounces of contained silver in all categories at a weighted average grade of 1.56 grams per tonne gold and 7.5 grams per tonne silver (NI-43-101 technical report filed May 8th, 2013, available on the company website or at www.sedar.com). *(applying cutoff grade of 0.45 grams per tonne gold equivalent (AuEq) defined by the price, cost and recovery assumptions).
The mineralization at Ana Paula follows a north trending structural corridor that lies to the west of and is parallel to the San Luis Trend. The deposit at Ana Paula was included in the ZTEM survey area to provide a case study and model for ongoing exploration.
The GGB is an established gold mining district that hosts to skarn and epithermal gold deposits located in a mining friendly jurisdiction that offers ample infrastructure, including roads, power, water and ports of access.