Nueva Promesa Property

 

Location

 

The Nueva Promesa property is comprised of a 1000 Ha of mining concessions located 390 km northwest of Lima and 65 km from the port city of Chimbote. The property is located at an elevation of roughly 1600 m and is accessible by paved road from the coast along the Santa river valley.

 

Geology

 

The property is located along the western boundary of the highly prolific Miocene porphyry Cu-Mo-Au and epithermal Au-Ag belt of northern Peru. Along this corridor several porphyry deposits and prospects have been identified including Toromocho, Pashpap, Cañariaco, La Huaca,  La Granja, Michiquillay, Galeno, Minas Conga, Yanacocha, and Lagunas Norte (Alto Chicama).

 

The property was staked over a known mineralized porphyry Cu-Mo system originally drilled by Antofagasta Minerals between 2010 and 2012. Research suggests that Antofagasta completed 5 diamond drill holes on the property before dropping the option in late 2012. The property was later dropped by the original owner and staked by GlobeTrotters in late 2014.

 

Nueva Promesa is a large multiphase Miocene Cu-Mo porphyry system associated with early, intermediate and late mineral porphyry stocks and dykes intruding folded and faulted Jurassic shales, siltstones and quartzites. The system is predominately phyllic to argillic altered with up to 10% pyrite in dense D veining associated with intermediate to late mineral porphyries. Fingers of early mineral potassic altered diorite porphyry with dense A and B veining were also recognized carrying quartz-chalcopyrite-molybdenite sulphide mineralization locally. Indications of an early botitic horfeling are also observed related to a possible early potassic event.

 

The upper part of the system is partially leached resulting in a significant colour anomaly associated with the formation of secondary jarosite-goethite-hematite along fractures and in veinlets. In places it appears that chalcopyrity has been replaced by secondary hematite and secondary Cu mineralization including copper wad, malachite and chalcocite which is visible throughout the leached profile. Primary sulphide mineralization including pyrite and traces of chalcopyrite are visible where unleached. A total of 335 rock chip samples have been collected on the property with assays ranging from 5 to 3000 ppm Cu, 50 to 450 ppm Mo and 0.5 to 10 g/t Ag.

 

Exploration Potential

 

The Nueva Promesa porphyry Cu-Mo system was partially drill tested by Antofagasta but significant exploration potential still exists for a moderate to low grade primary porphyry Cu-Mo system at depth associated with deeper early intermineral porphyry. Further detailed mapping, sampling, geophysics and drilling are required to fully evaluate this system. The property is also located 65 km from the coast at an elevation 1600m making it well situated for possible future mine development.

 

GlobeTrotters has received permission from the communities to do early stage exploration including mapping, geochemical sampling and ground geophysics on community controlled land.