IP chargeability cross-sections, Letra Rumi South
IP chargeability plan-sections, Letra Rumi South
Bbedrock geology and sample results, Letra Rumi South
Zone 1 gossan, Letra Rumi South
Zone 2 gossan, Letra Rumi South
Letra Rumi South
Summary
Strait Gold holds a 100% interest (subject to a 3% NSR) on the Letra Rumi South copper-molybdenum project in north-central Peru
Detailed grid sampling across two zones in 2007 returned widespread low-grade copper values (average 0.1% copper from 182 composite grab samples) with locally enriched precious metal values (up to 2.5 g/t gold and 77 g/t silver) and local high grade molybdenum values (up to 0.1% molybdenite). Results of geophysical surveys indicate the presence of significant chargeability and/or resistivity anomalies below both zones as well as a third chargeability anomaly associated with a small outcropping gossan (with a surface grab sample of 0.1% molybdenite) immediately south of one of the zones.
The Company has identified drill targets, initiated the drill permitting process and begun improving access to the project in preparation of a 1,500-metre diamond drill program designed to test the IP anomalies at depth.
Property Description
The Letra Rumi South project consists of a single 900 ha concession which forms the southern portion of the larger Culebrilla property of Strait Gold. The property is located in the Cordillera Negra of north-central Peru, approximately 325 km north-northwest of Lima, and approximately 14 km northwest from the town of Caraz. The property occurs within the districts of Mato, Pamparomas, and Caceres del Peru, in the provinces of Huaylas and Santa, of the department of Ancash.
Strait Gold holds a 100% interest in the Culebrilla property, including Letra Rumi South, subject to a 3% NSR up to 2% of which can be purchased by Strait Gold for cash payments totalling US$2 million.
Travel to the property is via a 4x4 accessible dirt road beginning 12 km north of the city of Caraz, and heading west up into the Cordillera Negra mountains to the small town of Ancoraca, a travel time of roughly 1 hour from Caraz. From Ancoraca a well established foot path leads up to the project area. Travel time from Ancoraca is roughly 2-3 hours.
The Pashpap porphyry Cu-Mo deposit (Northern Peru Copper), with a historical unclassified resource of 101 Mt at 0.64% Cu and 0.049% Mo (Cintis, 2003), occurs roughly 17 km north-northwest of Letra Rumi South, at the eastern edge of the Tertiary volcanic belt.
Geology, Alteration and Mineralization
The geology of the Letra Rumi South property is underlain, along the western half, by Upper Calipuy Group intermediate volcanic tuffs which are intruded, along the eastern half, by a large (~9km long x ~5 km wide) Neogene granodiorite intrusion known as the Ancoraca stock. Recent government geological mapping, focussed on further defining the Calipuy Group volcanics in northern Peru, has identified a ~1 km2 sub-circular high level andesite intrusion in the vicinity of the surface gossans at Letra Rumi South (INGEMET Corongo 18h map sheet, quadrant III).
Mineralization at Letra Rumi South is hosted by Calipuy volcancis, near the contact with the Ancoraca stock. Within the project area are exposed two zones of extensive iron-staining:
- zone #1 is ~250 m long x up to 135 m wide, and consists of pervasive silica-sercite+/-muscovite alteration with extensive zones of coarse brecciation and poorly preserved sulphide mineralization in the form of disseminated pyrite-pyrrhotite+/-magnetite-chalcopyrite, with locally enriched supergene copper.
- zone #2 is a roughly north-south trending body ~315 m long by up to 110 m wide of intense silica+/-biotite-clay altered tuff with disseminated to fracture hosted pyrrhotite-pyrite-magnetite+/-chalcopyrite.
Detailed grid sampling across these two zones in May 2007 returned widespread low grade copper values (average 0.1% Cu from 182 composite grab samples) with locally enriched precious metal values (up to 2.5 g/t Au and 77 g/t Ag) and local high grade molybdenum values (up to 0.1% Mo).
In August 2007, a 8 line km 3D IP survey coupled with 16 line km of ground magnetics was conducted over the two zones by Fugro Ground Geophysics of Lima, Peru. Results of the survey indicated the presence of significant chargeability+/-resistivity anomalies below both zones, as well as a third chargeability anomaly associated with a small outcropping gossan (with a surface grab sample of 0.1% Mo) immediately south of Zone #2. Details of the sampling and geophysical results can be found in the technical report.
Target
The Letra Rumi South project is a porphyry Cu-Mo target. The extensive silica-phyllic+/-potassic alteration observed in association with iron sulphide/oxide and copper sulphide mineralization suggests the hydrothermal system was magmatic in origin. Extensive brecciation in zone #1 may reflect violent magmatic-hydrothermal degassing and subsequent alteration/mineralization. Coincident IP chargeability anomalies at depth beneath zones #1 and #2 lend creedence to the existence of further mineralization at depth in these areas, as well as in the third chargeability anomaly identified south of zone #2.
References:
Cintis, R., 2003, Technical Report on the Pashpap Property, Ancash Department, Peru. Prepared for Lumina Copper Corporation. September 2003. Available on www.sedar.com
Drill path to camp, Letra
Rumi South
