The Greater Las Huaquillas Project

GLH Project - Regional Setting

The Greater Las Huaquillas (GLH) project is located within the Cordillera Occidental belt of north central Peru and south east Ecuador; the mineralised belt in Ecuador is known as the Cordillera del Condor. This region is interpreted to be a northern extension of the Andean Copper Belts.

The GLH project is located within the Upper Jurassic Cu-Au porphyry and Skarn metallogenic province and within the western Cordillera morphostructural and tectonic provinces of Northern Peru. Volcanic rocks are overlaid by the Upper Jurassic Sarayaquillo Formation composed of reddish brown sandstone and limestone.

Recent Discoveries Underpinning Corporate Activity

The rationale for our acquisition is explored in detail in the News Release available at at http://montanmining.ca/_resources/news/nr-2018-12-06.pdf. Based on the historical interpretation of the distribution of the Andean Copper Belts (refer to Fig.1 in the above link), these belts were not believed to be prominent in Ecuador. Recent exploration successes in Ecuador, has  highlighted the prospectivity of the region and has begun to attract the interest of major global mining companies.

The improved prospectivity of the region is creating substantial opportunities for rapid resource exploration and appraisal.

The Greater Las Huaquillas project is now interpreted to be situated on the same Upper Jurassic - Cretaceous - Tertiary porphyry copper belt that extends south from Ecuador which hosts the Nambija, Mirador, Junin, Chinapintza and Fruta del Norte deposits. However, PLEASE NOTE that the mines, advanced projects and recent discoveries in the Andean Copper Belt are not necessarily reflective of the mineralization that is, or may be hosted on the Greater Las Huaquillas (GLH) project.

LH Project - Historical Resource Appraisal

In 1997 and 1998, Sulliden carried out an integrated two phase exploration program including; line cutting, geophysics, soil, stream, rock geochemical and geological surveys, and 26 diamond drill holes (DDH) were drilled by Sulliden, for a total of 5,671m. The gold-silver epithermal mineralization discovered along the Socavones trend was followed for at least 2.1 kilometres via geophysics, soil and rock sampling and drilling. Five significant mineralized zones were identified at the project as follows: (i) Los Socavones, (ii) El Huabo, (iii) Las Huaquillas, (iv) Cementerio and (v) San Antonio (refer Fig. 1, below).

Figure 1

LH Project - Deposit Types

Four deposit types (refer Fig. 1) have been identified at the Greater Las Huaquillas (GLH) project:

  • Epithermal Au-Ag; low sulphidation at the El Huabo and Las Huaquillas showings of the Los Socavones zone.

  • Epithermal Au-Ag-Cu; high sulphidation at the Porvenir-Huabo Alto silicified ridge.

  • Au, Ag, Zn. Pb-quartz stockwork at the Los Socavones.

  • Porphyry Cu ± Mo ± Au within the Cementerio and San Antonio intrusions.

Significant Mineralised Zones – Historical

The Los Socavones anomaly is a major NE-SW trending mineralized fault zone that extends for at least 2.5km and has a width of approximately 100m. The anomalous zone consists of two distinct Au-enriched pyrite-sphalerite-galena quartz stock-work zones surrounded by a low-grade gold zone composed of disseminated and narrow stringers of pyrite with minor sphalerite and chalcopyrite.

To date, 1,000m of its strike length has been drill tested and 400m underground workings including 100m vertical development has been carried out. Drilling has intersected the mineralization at a depth of approximately 200m. The mineralized zone average true thickness is approximately 19 m with a maximum thickness of 65m within the zone centre.

The Cementerio Cu-Au porphyry system is located 1,000m south of the Los Socavones zone. It comprises extensive argillic, phyllic and hematitic alteration partly visible along the road leading to the Las Huaquillas village. A 600m by 900m sub-circular multi-phase diorite intrusion characterized by equigranular and porphyritic textures is spatially-related with the mineralization.

The San Antonio porphyry system is located 1,000m NW of the Los Socavones zone. It coincides with a prominent copper-gold soil geochemical anomaly and is hosted in a calc-alkaline quartz diorite intrusion measuring 500m x 900m. The host rock is massive, fairly homogeneous and is composed of 15% well formed 2-mm plagioclase phenocrysts in a finer groundmass composed of amphibole feldspar-quartz-chlorite-biotite-magnetite-sericite.

The El Huabo Au-Ag anomaly is located near the Los Socavones structure within altered plagioclase porphyritic volcanic rocks members of the Oyotún Formation.

The Las Huaquillas anomaly is located some 850m to the NE of the El Huabo anomaly. The mineralization is hosted in strongly sericitized and argillic altered Oyotún Formation rocks that are cross-cut by narrow quartz veins and accompanied by fine quartz vug filling. The geological similarities between the Las Huaquillas and the El Huabo anomalies indicate that both are part of the same low-sulphidation epithermal system developed along the Los Socavones structure. 

Significant Intercepts

Historical drilling at the Los Socavones Zone report significant mineralized intercepts, the best of which is Sulliden DDH intersection (LH97-08): 67.5m core length (approximately 53m true width) grading 2.7 g/t Au and 15.3 g/t Ag. Hole LH-97-04, which returned 0.47% Cu, 0.11 g/t Au and 4.5 g/t Ag over 99.5m (drill length), demonstrated the size potential of Cementerio’s phyllic ring. Similarly, San Antonio drilling (LH97-17) also intersected significant mineralization; up to 0.32% Cu, 0.45 g/t Au and 3.0 g/t Ag over 69.0 m (drill length), including an interval grading 0.46 % Cu, 0.74 g/t Au and 4.9 g/t Ag over 21.0m.

Project Potential

The GLH Project is characterised by the historically identified occurrences, and a number of areas of alteration that is recorded in the Peruvian national geological records. The area is target rich, with multiple known high interest targets intersected in surface sampling, underground development and drilling.

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