Minefinders Advances Copper-Gold Porphyry Prospect in Sonora.
VANCOUVER, B.C.--(BUSINESS WIRE)--June 19, 2000
Minefinders Corporation Ltd. (TSE See Tokyo Stock Exchange.
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See OTC Bulletin Board (OTCBB). :MNEFF) - Mark H. Bailey, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. is pleased to report results from geochemical sampling and geophysical surveys on the company's Alcaparrosa Prospect, Sonora, Mexico. Successful exploration efforts have advanced this porphyry-style copper-gold system to the drill stage.
Rock-chip geochemical grid sampling has delineated a large (1,000 m x 500 m) copper-gold-molybdenum anomaly within the Alcaparrosa portion of the Company's extensive northern Sonora mineral concessions. Contouring at 400 ppm copper within the central 250 x 250 meter core of the larger anomaly included 17 rock-chip samples that averaged 1,655 ppm (0.17% Cu). The highest value from this zone assayed 0.73% copper with sporadic gold values of up to 1.1 g/t gold (0.032 oz/t Au). The geochemical anomalies are defined by more than 640 rock-chip samples collected from 50 X 100 meter and 25 X 50 meter sample grids. Geochemical zonation zo·na·tion
1. Arrangement or formation in zones; zonate structure.
2. Ecology The distribution of organisms in biogeographic zones. patterns over the target area are indicative of intrusive-related porphyry systems, including peripheral lead and zinc mineralization Mineralization
The process by which the body uses minerals to build bone structure.
Mentioned in: Rickets
n the bioprecipitation of an inorganic substance. beyond the main copper-gold-molybdenum anomaly.
Mineralization at surface occurs within an iron-stained leached rock containing intense jarosite and hematite hematite (hĕm`ətīt), mineral, an oxide of iron, Fe2O3, containing about 70% metal, occurring in nature in red to reddish-brown earthy masses and in steel-gray to black crystalline forms. alteration. The host rock, which contained from 2% to more than 6% sulfides prior to leaching, has undergone quartz-sericite-pyrite alteration. Quartz-tourmaline stockworks and breccias, gossanous seams, and copper oxides occur locally throughout the four-square kilometer area of alteration. Geochemical leaching typically mobilizes near-surface copper mineralization producing a residual molybdenum molybdenum (məlĭb`dənəm) [Gr.,=leadlike], metallic chemical element; symbol Mo; at. no. 42; at. wt. 95.94; m.p. about 2,617°C;; b.p. about 4,612°C;; sp. gr. 10.22 at 20°C;; valence +2, +3, +4, +5, or +6. iron-oxide anomaly while precipitating a copper (gold) enriched blanket at some depth beneath the surface.
The multi-element surface geochemical anomalies overlie o·ver·lie
tr.v. o·ver·lay , o·ver·lain , o·ver·ly·ing, o·ver·lies
1. To lie over or on.
2. To suffocate (a baby, for example) by accidentally lying on top of it. a larger geophysical anomaly identified during an airborne aeromagnetic-electromagnetic-radiometric (HEM) survey contracted by the company in 1997. Coincident 1 kilometer wide by 3.5 kilometer long geophysical anomalies exhibit high conductivity, anomalous potassium radiometrics, and low magnetic signatures. In addition, data from a ground-based induced-potential/resistivity (IP) survey completed in the 1970's by the Mexican Consejo de Recursos Minerales corresponds directly with the airborne conductivity anomaly. Analysis and modeling of the data by an independent geophysical consultant, suggested that the coincident anomalies indicate the presence of disseminated sulfide mineralization and magnetite-destructive alteration associated with a covered source dipping steeply eastward and widening at depth.
The geophysical results combined with the geochemical anomaly, are consistent with the signature of a buried copper-gold porphyry system. The exploration model suggests that the copper-gold-molybdenum anomaly encountered at surface may represent the uppermost periphery of mineralization located above a deep-seated porphyry intrusive. Future drilling will be designed to investigate this possibility.
Alcaparrosa represents one of several ongoing exploration programs within Minefinders' Northern Sonora Project area. This area encompasses more than 400 square kilometers of highly-prospective mineral concessions located within the southern extension of the Arizona Porphyry Belt, which contains numerous world-class porphyry copper deposits.
On Behalf of the Board of Directors MINEFINDERS CORPORATION LTD. Mark H. Bailey, President and Chief Executive Officer
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