Elida Property

 

Location

 

The Elida property is comprised of 5480 Ha of mining concessions located 170 km northwest of Lima and roughly 80 km from the coast at an altitude of roughly 1600 m. The property is accessible along a series of dirt roads from the city of Barranca.

 

Geology

 

The property was originally staked over a large high priority remote sensing target situated in a new emerging porphyry belt in central Peru. The follow up of this anomaly eventually led to the discovery of a large 2 km by 2 km untested porphyry Cu-Mo system. The porphyry system is a multiphase intrusive complex, primarily dacite in composition intruded along east-west and north-south trending structures cutting Cretaceous Casma volcanic and volcanoclastic rocks as well as the Coastal Batholith. In the central part of the system the Casma volcanic rocks are intercolated with a sequence of calcareous mudstones, limestones and shales.

 

The entire system including the host rocks are intensely phyllic to agillic altered. Where the dacite porphyries are exposed, these rocks are strongly phyllic to argillic altered with intense D veining. In places the volcanoclastic rocks are strongly potassic altered with intense B veining which has been overprinted by moderate to strong phyllic alteration associated with dense D veining. It appears that the original early potassic alteration in the volcanoclastic rocks is still well preserved in places and locally where calcareous sedimentary rocks occur, green to brown garnet skarn alteration is abundant.

 

To date, most of the Cu, Mo, Ag, and Zn sulphide mineralization has been discovered associated with with D and B veining within the skarn altered sedimentary rocks. These altered rocks are cut by fingers altered porphyries including a mineralized potassic altered early-mineral diorite porphyry not previously mapped on surface. Fingers of mineralized phyllic altered dacitic inter-mineral porphyry are more commonly recognised throughout the property.

 

The central part of the porphyry system is strongly leached resulting in the formation of a leach capping. This leach capping produces a large colour anomaly associated with intense secondary jarosite-goethite-hematite alteration along fractures and in veinlets. This leaching has also lead to the formation of secondary Cu mineralization including copper wad, malachite, brochantite and chalcocite which is visible throughout the leached profile. Early drilling suggest that the development of an extensive supergene enrichment blanket is unlikely but indications suggest localized enrichment is present.

 

The following is a link to Elida property Photos

 

Exploration Potential

 

The Elida property has the potential to host a greater than 500 million tonne medium grade Cu-Mo porphyry deposit. The intense leach capping also suggests the potential for local supergene enrichment at depth.

 

A total of  9880 m of diamond drilling in 18 drill holes was completed by Lundin Mining in 2015. The best assay results were discovered in DDH 15ELID012 which returned 503m of 0.42% Cu, 0.046% Mo, 3.23 g/t Ag including 265m of 0.52% Cu, 0.049% Mo, 4.1 g/t Ag.

 

As part of the previous work by Lundin, community permits for the Elida property were reassigned to GlobeTrotters giving the Company social license to operate until 2020.

 

GlobeTrotters is actively seeking a joint venture partner for this project.