The Tumipampa
property is located 60 km south of the city of Abancay in the Department
of Apurimac and approximately 500 km SE of Lima; its altitude varies
between 4200 and 4800 meters and covers an area of 42 km² (4,200
hectares). Within the regional geological context Dynacor's
Tumipampa copper-gold project is located at the intercept between two
important mineralized large scale corridors: the epithermal gold
and silver corridor (which hosts important hydrothermal deposits such
as Orcopampa, Ares, Arcata, Caylloma, Shila-Paula, Selene-Pallancata and
the Antapite mines) and the Apurimac copper
corridor that hosts world class porphyry-copper and base metals
rich skarn deposits such as Las Bambas (Xstrata Copper), Los Chancas
(Southern Copper Corp), Haquira (First Quantum/Antares Minerals),
Constancia (Hudbay Minerals/Norsemont) and Tintaya (Xstrata Copper).
Exploration Highlights (January –June
2011)
-
A detailed geophysical survey of the skarn began in May and the field
work was finished in the 3rd week of June. The complete study
and the interpretation will be available by the end of July.
-
Seven (7) Diamond drill holes were completed representing 1,830
metres of the campaign's 6,700 metres or only 27%.
-
Exploratory drill holes in zones 2, 3 and 4 of the skarn were done
and the results are discussed below.
-
High anomal values of molybdenum were found in several intersects in
a drill hole in zone 3 (values of up to 231 ppm Mo or 0,023% were
found).
Geophysical Survey
Dynacor has contracted an independant specialized firm (Val D'Or
Geophysics del Perú) to carry out a detailed geophysical survey and
mapping of the Tumipampa skarn. The study will involve mapping magnetic
anomalies and induced polarization. The geophysical survey covers an
area of 1080 ha and is based on a grid of twenty 2.7 km long lines with a
spacing of 200 meters between each line. The expected result is 3D mapping
of the mineralized skarn structure which in turn will allow the company to
resume its drilling targetting this time the most promising areas based on
the geophysical data.
Drilling campaign
A total of 7 exploratory drill holes in the skarn were completed adding
up to a total of 1,830 metres as follows:
-
Four(4) holes were located in Zone 2 of the skarn
-
One(1) hole was drilled in Zone 3 of the skarn, and
-
Two(2) holes were drilled in Zone 4
The exact locations and the mineralized intersects for each hole are
given in Figure 1 and Table 2 below.The most significant results obtained
are summarized below.
Skarn zone 2 – Four holes were drilled adding up to a
total of 846.35 meters, the most significant mineralized core segments
were as follows:
-
12.75 meters with 0.227 % Cu, 0.107
oz/t Ag and 0.023 g/t Au
-
10.61 meters with 0.732 % Cu, 0.487
oz/t Ag and 0.237 g/t Au
-
10.60 meters with 1.196 % Cu, 0.634
oz/t Ag and 0.173 g/t Au
Skarn zone 3 – One hole was drilled with a total
length of 179.4 meters. This hole intercepted part of the skarn structure
and showed very significant molybdenum grades. The significance of this
result is discussed below.
-
1.3 meters with 0.216 Au g/t, 0.106
oz/t Ag and 0.488 % Cu
-
7.40 meters with 231.4 ppm (0.0231%) Mo
-
10.00 meters with 38.0 ppm (0.0038%) Mo
-
8.20 meters with 85.4 ppm (0.0085%) Mo
Skarn zone 4 – Two holes were drilled adding up to a
total of 804,7 meters, no significantly mineralized segments were found in
these two drill holes however they did intercept the outer areas of the
skarn structure and abundant pyrite and hematite were observed in segments
of the core where anomal metal values were also found as follows:
-
5.75 meters with 0.075 % Cu, 0.022%
Zn and 0.044 oz /t Ag
-
26.60 meters with 0.021 % Cu, 10 ppm Mo and
0.027 % Zn
-
4.40 meters with 0.387 % Zn, 0.011
% Cu and 0.038 % Pb
-
4.70 meters with 0.013 % Cu and 0.045
% Zn
Molybdenum results
Molybdenum is an indicator or pathfinder metal for skarn or porphry
copper/gold deposits. Indeed, it is often found associated with the latter
type of large scale copper/gold deposits. In Table 1 below some data on
the copper/gold and associated molybdenum grades of four (4) large scale
deposits that are curently being explored and developped within a 150 km
range of Tumipampa.
Table 1 Molybdenum pathfinder metal for large skarn or porphry
copper/gold deposits
Property |
Copper resources |
Molybdenum resources |
Gold resources |
|
|
|
|
Las
Bambas |
0.59
% - 0.86 % |
0.02
% |
0.05
– 0.07 g/t |
Antapaccay |
0.40%
- 0.68 % |
0.01
% |
0.06
– 0.15 g/t |
Constancia |
0.35
% - 0.45 % |
0.01
% |
0.04
– 006 g/t |
Haquira |
0.54
% - 0.63 % |
0.01
% |
0.03
– 0.04 g/t |
Although no meaningful comparaison can be made between our drilling
data and the data given in Table 1 above since we have too little drilling
data at present, it is interesting to recall our previously reported
surface sample data (see Press Release dated March 7, 2011). Of a total of
993 surface samples, 101 samples were anomalous in copper with grades
between 0.1 – 5.65% Cu, 250 samples were anomalous in gold with grades
between 0.05 – 14.9 g/t Au and 87 samples were anomalous in the pathfinder
metal molybdenum with grades between 0.003 and 0.0769% Mo.
These initial drilling results are encouraging and the Company plans to
aggressively pursue its drilling campaign in the next few months once the
results from the geophysical survey are available and that new drilling
targets have been defined based on the geophysical data. Further drilling
results and the geophysical survey results will be released as the
exploration campaign goes forward.
This Press Release has been read and approved by Alonso Sanchez, P.
Eng. and Chief Geologist for Dynacor Gold Mines. He acts as the qualified
person ("QP") for the Company, and is a geologist affiliated to the
American Institute of Professional Geologists (AIPG).
Table 2. 2011 Drilling data Tumipampa HDD-1 to
HDD-7
Drill |
|
|
Au, Ag, Cu and Mo
Mineralisation |
|
|
|
|
Hole
Id |
Skarn Zone drilled |
Total Length (m) |
Depth Intersection (m) |
Width (m) |
Au (g/t) |
Ag (oz/t) |
Cu (%) |
Fe (%) |
Mo (ppm) |
Pb (%) |
Zn (%) |
HDD
1 |
ZONE
2 |
356.75 |
137.40
- 150.15 |
12.75 |
0.023 |
0.107 |
0.227 |
5.299 |
2.459 |
0.006 |
0.014 |
HDD
1-1 |
ZONE
2 |
|
195.29
- 205.90 |
10.61 |
0.237 |
0.487 |
0.732 |
2.595 |
2.233 |
0.019 |
0.005 |
HDD
2 |
ZONE
2 |
267.50 |
outside
the skarn |
-- |
-- |
-- |
-- |
-- |
-- |
-- |
-- |
HDD
3 |
ZONE
2 |
123.90 |
outside
the skarn |
-- |
-- |
-- |
-- |
-- |
-- |
-- |
-- |
HDD
4 |
ZONE
2 |
98.20 |
21.00
- 31.60 |
10.60 |
0.173 |
0.634 |
1.196 |
13.402 |
35.506 |
0.008 |
0.018 |
HDD
5 |
ZONE
4 |
292.00 |
0.00
- 5.75 |
5.75 |
0.048 |
0.044 |
0.075 |
8.504 |
6.470 |
0.004 |
0.022 |
HDD
5-1 |
ZONE
4 |
|
28.80
- 55.40 |
26.60 |
0.023 |
0.022 |
0.021 |
4.145 |
9.891 |
0.004 |
0.027 |
HDD
6 |
ZONE
4 |
512.70 |
17.50
- 21.90 |
4.40 |
0.018 |
0.014 |
0.011 |
2.809 |
4.364 |
0.038 |
0.387 |
HDD
6-1 |
ZONE
4 |
|
37.20
- 41.90 |
4.70 |
0.073 |
0.015 |
0.013 |
2.484 |
7.426 |
0.003 |
0.045 |
HDD
7 |
ZONE
3 |
179.40 |
57.70
- 65.10 |
7.40 |
0.067 |
0.045 |
0.001 |
7.565 |
231.453 |
0.005 |
0.008 |
HDD
7-1 |
ZONE3I |
|
65.10
- 75.10 |
10.00 |
0.006 |
0.018 |
0.005 |
8.915 |
38.025 |
0.005 |
0.007 |
HDD
7-2 |
ZONE
3 |
|
75.10
- 83.30 |
8.20 |
0.019 |
0.030 |
0.004 |
9.729 |
85.360 |
0.011 |
0.011 |
HDD
7-3 |
ZONE
3 |
|
83.30
- 84.60 |
1.30 |
0.216 |
0.106 |
0.488 |
12.520 |
4.000 |
0.013 |
0.011 |
Note. Anomalous and economic grades are shown
in bold |
The location of 2011 drill holes HDD1 to HDD7 and some surface
channel sample data are available at the following link: http://media3.marketwire.com/docs/dynacormapeng0707.pdf
ABOUT DYNACOR GOLD MINES INC.
Dynacor is a gold exploration and mining company active in Peru through
its subsidiaries since 1996. The Company's assets include the Acari,
Casaden and Tumipampa exploration properties. Dynacor's gold mill produces
gold by custom milling. Dynacor's strength and competitive advantage comes
with the experience and knowledge the Company has developed while working
in Peru. Its pride remains in maintaining respect and positive work ethics
toward its employees, partners and local communities.
FORWARD LOOKING INFORMATION
Certain statements in the foregoing may constitute forward-looking
statements, which involve known and unknown risks, uncertainties and other
factors that may cause the actual results, performance or achievements of
Dynacor, or industry results, to be materially different from any future
result, performance or achievement expressed or implied by such
forward-looking statements. These statements reflect management's current
expectations regarding future events and operating performance as of the
date of this news release.