Elementos (ASX: ELT) is set to begin a 5,000 metre diamond drilling program in mid-October at its Tamaya Project in central Chile, which is likely to be highly anticipated given the discovery of more high grade copper over significant widths from channel sampling, including 10.4 metres at 2.35% copper.
Demonstrating Tamaya’s potential, the project has been designated an iron oxide copper gold (IOCG) style deposit by a geological consultant.
Results have been received for a further 147 channel samples from outcrops of the wallrock enveloping the high grade copper veins extracted historically. Highlights include:
- 10.4 metres at 2.53% copper, including 8 metres at 3.14% copper, from the Almagro Prospect;
- 6.4 metres at 1.45% copper and 3 metres at 3.27% copper from the Campanil Prospect;
- 4.9 metres at 1.04% copper and 3.5 metres at 2.38% copper from the Campanil Bajo Prospect; and
- 3.65 metres at 2.35% copper and 2.8 metres at 1.28% copper from the Tortolas Prospect.
The latest sample results, which represent only the wallrock to the historic mining, demonstrate the potential for significant tonnages of remnant copper mineralisation remaining within the larger envelope around the high grade veins extracted historically.
The lack of previous systematic exploration also implies additional potential for further, unrecognised high grade veins.
Campanil and Almagro have consistent grades and widths along strike in the mineralised wallrocks. Although most of the high grade vein material is likely to have been mined to an unknown depth, these areas are considered highly prospective for shallow, moderate-grade mixed oxide and sulphide mineralisation.
The mineralisation at Campanil Bajo appears to be connected to the structures recently identified at Campanil and Almagro, increasing the tonnage potential in this area.
The Tortolas Prospect is located more than 500 metres lower than the main mineralised trend that outcrops along the summit of the Tamaya ridge. This indicates the minimum depth potential of the mineralised system.
IOCG potential
Key factors defining Tamaya as an IOCG style deposit include:
- The gangue mineral assemblage associated with the copper and gold mineralisation contains elevated quantities of iron oxides;
- The main copper sulphide ore mineral assemblage, including bornite and chalcopyrite;
- The presence of coarse crystalline calcite in the Main Vein at Tamaya is typical of high level expressions of Chilean IOCG vein deposits; and
- The location of the Tamaya mining district within the southern end of the documented trend of Early Cretaceous age IOCG deposits in northern Chile.
The Tamaya Main Vein was reportedly exploited in part to a depth of 700 metres. In general, IOCG deposits are developed over extended vertical distance, such as the Dulcinea deposit, near Copiapó northern Chile, that was worked to a depth of 1,200 metres.
Bulk tonnage potential
Detailed geological mapping completed at the southern end of the Tamaya structure has identified copper mineralisation hosted within stratiform sequences of andesite lava flows and pyroclastic units.
This suggests the potential for larger volume, bulk tonnage style disseminated copper mineralisation.
The numerous small, historic prospection pits located in this sector are also an indication of this greater dispersion of mineralisation.
Similar detailed mapping has yet to be completed in the northern sector of the project area.
A number of drill holes have been planned to test this bulk tonnage style target.
Drilling program
A 5,000 metre diamond drilling program has been planned to test the different structures, the mineralised wallrocks and other styles of mineralisation that have been identified at surface throughout the project area.
The drilling is expected to intersect significant widths of moderate-grade copper mineralisation in the enveloping wallrocks, similar to the results encountered during this surface sampling program.
It may also intersect high grade mineralisation within the broader structures, similar to that mined underground and in historic waste.
Drill targets have been finalised and planning is on track for drill mobilisation by mid-October.
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