+ Energold Drilling Corp. - News Releases - Copper-Gold Porphyry System At Majagual Confirmed By Geophysics And Chemistry - Wed Jul 15, 2020

News Releases

 July 29, 1997
Copper-Gold Porphyry System At Majagual Confirmed By Geophysics And Chemistry

 Detailed geologic mapping, IP and magnetics on Energold's Majagual property in the Dominican Republic have confirmed a porphyry copper-gold system identified by soil and rock geochemistry.

A copper anomaly with values above 500 ppm ranging to greater than 1% over an area of 500 m x 800 m open to extension has been mapped, accompanied by gold values greater than 90 ppb and locally greater than one gram.Molybdenum values range up to 250 ppm. The anomaly is supported by a zone of magnetic highs which ring a central magnetic low, consistent with the alteration associated with a porphyry system. High chargeabilities detected by an IP survey indicate the presence of a sulphide zone which extends to depth.

The area is underlain by andesitic volcanics and derived epiclastic sediments intruded by quartz feldspar porphyry, dikes, plugs, and breccia pipes. A central zone of postassic alteration, and an outer phyllic zone are overprinted by propyllitic alteration. Copper occurs as coarse to fine grained disseminations, fracture fillings and in a vein stockwork developed within and near the quartz-feldspar porphyries.

Locally strong silicic alteration may be a leached capping underlain by by a chalcocite blanket, suggested by float boulders with abundant chalcocite as well as chalcopyrite and pyrite. Sulphide-rich float samples with extensive secondary chalcocite have been found in a creek which cuts through the center of the mineralized zone, indicating the possibility of a supergene enrichment zone.

The geologic setting and alteration patterns are similar to other well known porhyries in the Carribean region, including Cerro Colorado in Panama (1.5 billion tonnes of combined supergene and hypogene resource, overall grade .78% copper) and Tanama in Puerto Rico (140 million tonnes of 0.64% copper, o.5 g/T gold.)

Exploration work is ongoing, an environmental baseline assessment has been initiated and drill targets are being developed. IMPACT Minerals is spending $1.25 million to earn a 60% interest in Majagual.

For more information please contact: Keith Schaefer 604-681-9501

On behalf of the Board of Directors

(signed) H. Walter Sellmer

The Vancouver Stock Exchange has neither approved nor disapproved this release.

You can view the Next News Releases item: Wed Feb 11, 1998, Majagual Trenching Results Announced

You can view the Previous News Releases item: Wed Jun 4, 1997, Results Of The Gopher Diamond Drill Program

You can return to the main News Releases page, or press the Back button on your browser.

Show printable version of 'Copper-Gold Porphyry System At Majagual Confirmed ...' in a New Window