- 100% owned, 5,000 hectare copper silver target
- Available for option
- Exploration results from this property include chip samples that have assayed 4.5% copper and 128 grams per tonne (g/t) silver over 1.2m and 6.2% copper and 324 g/t silver over 0.4m.
Location and Access:
From a paved road there are several 4x4 roads leading to different areas of the 5,800 hectare Mitu property. Mitu is located in the Department of Junin, Peru and is approximately 155km northeast of Lima and 80km southeast of the historic mining camp of Cerro de Pasco and 110km northwest of the Company's Cocha copper-silver project. Elevations on the property range from 3700m to 4400m above sea level.
Mitu Organics Cu
The Mitu property occurs in the same geological setting as Golden Alliance's Cocha copper project where sampling returned assays averaging 0.8% copper and 10 g/t silver over 80 metres from a series of contiguous composite chip samples. Examples of this style of sediment-hosted copper-silver deposits include the giant Lubin Deposit (52 Mt Cu, 2,275 M oz Ag1) in the Kupferschiefer district of Poland and the White Pine Deposit (8.3Mt Cu, 800 M oz Ag1) in the Upper Peninsula of Michigan.
Sediment-hosted copper-silver mineralization occurs in the clastic Mitu Formation at, or close to, its upper contact with the Pucara limestone. Three rock chip samples collected from historical workings during an initial site evaluation of the Mitu concession assayed 4.5% copper and 128 ppm silver over 1.2m, 6.2% copper and 324 ppm silver over 0.4m, and 1.7% copper and 45 ppm silver over 0.3m; all samples were collected across structurally and/or stratigraphically-controlled horizons
Soil Samples South of Mitu
A total of 10 stream sediment samples were collected in the Mitu Project area. Results ranged from 8 to 246 ppm copper and 0.1 to 0.4 ppm silver. The highest copper value came from one sample collected in the central part of the concession reflecting mineralization associated with the contact between the Mitu and Pucara formations.
The Permian Mitu Formation forms a north-northwest trending belt parallel to the main geological fabric of Peru and comprises a suite of andesite and rhyolite flows intercalated with volcanic agglomerate and overlain by fine-grained sandstone with intercalated mudstone. The Mitu Formation is discordantly underlain by the Permian-Pennsylvanian aged Copacabana Formation and is covered by the Lower Mesozoic Pucara Formation. The Mitu property is underlain by clastic sediments of the Mitu Formation and Triassic Pucara limestone.
