Overview

Close to Existing Infrastructure

Organullo is located in Salta Province, northwestern Argentina, approximately 20km south of the village of San Antonio de Los Cobres and 100km WNW from the city of Salta. The property is located on a high elevation plateau with topography ranging from hilly to mountainous. The elevation ranges from 3,990m to 4,580m. The project has road access and a major power line runs within approximately 15km of the property.

Epithermal Gold Deposit

Widespread and intense alteration at Organullo are indicative of a high sulphidation epithermal gold deposit. A large alteration system trending 7km in a north-south direction has been outlined by geochemical rock sampling and priority targets have been defined. An extensive historical exploration dataset includes 44 historical drill holes (8,200m), 1,500 surface samples and geophysical data.

Historical Conceptual Open Pit Study

A study conduction in 2012 (using historical drill data) resulted in potential target tonnages as well as potential exploration target grades of gold.

Estimation of Target Tonnage and Grade at Organullo

Target
Range

Base Case Gold
Cut-Off g/t

Tonnage
(x ‘000)

Gold Grade
g/t

Gold
Ounces (x ‘000)

Lower

0.5

19,800

0.94

600

Upper

0.5

31,600

0.92

940


Estimation of target tonnage and grade was determined using two common strike and dip directions, each characteristic of a specific exploration target area. Block models were built for two target areas. Block sizes were defined to emphasise the narrow vein orientation and gold grades were estimated into each model's blocks using parameters adapted to the common vein direction in each area. Raw drillhole data was composited to 2.0 meters downhole. No limits were applied to either input data or output estimates and the estimation scan distances of up to 100 meters in the plane of the veins was adequate to fill the blocks between drill holes and extended was unconstrained by geology. Block estimation was done using an inverse distance squared algorithm. Following this evidence, increasing the scan distances by simple multiples produced reasonable figures for ranges of exploration targets. Scan distances of 200 meters and 300 meters were used for lower and upper ranges of exploration targets. It should be noted that these potential exploration target quantities and grades are conceptual in nature, that insufficient exploration and geological modelling has been done to define a mineral resource, and that it is uncertain if further exploration will result in the delineation of a mineral resource.

 

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