paramonga Property

 

Location

 

The Paramonga property is comprised of 11,413.09 Ha of mining concessions located 190 km northwest of Lima and straddles the Pan American highway just to the north of the port city of Barranca.

 

Geology

 

The property is located in what has been referred to by GlobeTrotters as the Paramonga sub-basin which forms part of the larger Cretaceous Huarmey marginal basin known to host several VMS deposits and prospects including the Milpo Cerro Lindo VMS deposit. The Paramonga sub-basin is also the same age as the highly prolific Lancones basin in northern Peru which is known to host the giant world-class Tambogrande VMS deposits.

 

The property was staked over a large area of newly discovered VMS alteration and mineralization outcropping in this area. The VMS geology is well exposed along the coast where large highly altered dacites and VMS stockworking have been mapped. These dacites are multiphase, intensely clay and hematite altered and are thought to form part of an exposed footwall dacitic dome complex. The dacites are overlain by a sequence of younger, broadly folded, locally altered hanging wall andesite flows as well as intermediate volcanoclastic and volcanosedimentary rocks. Throughout the 20 km long sub-basin, these hanging wall rocks are extensionally faulted and show sizeable patches of chlorite-epidote-pyrite and quartz-sericite-pyrite-hematite alteration locally centered on several large prominent hills of massive silica. These isolated alteration zones are thought to represent centers of higher level hydrothermal venting along active growth faults possibly related to the formation of VMS systems at depth.

 

Where the hanging wall rocks are altered, the near surface is oxidized forming patches of intense hematite alteration likely related to supergene weathering of prolific quartz-pyrite-chalcopyrite-sphalerite stringers along strongly sheared, clay altered fault zones. These hematite weathered zones are thought to represent late stage higher level VMS stockworking cutting through the hanging wall along a long-life extensional growth faults in the basin. This transition zone is well exposed along the coast particularly in one area where a quartz-chlorite-hematite alteration zone transitions downwards into quartz-pyrite-chalcopyrite-sphalerite stockworking running up to 8% Cu. Also in the same area, where the hanging wall rocks are well exposed, massive sulphide fragments were discovered in debriflows suggesting the formation and subsequent erosion of exhalative massive sulphides during a depositional hiatus on or near the sea floor in this area (See link to Photos).

 

Exploration Potential

 

The Paramonga property is believed to offer an excellent opportunity for the discovery of a newly untested VMS district similar to the Tambogrande district in the Lancones basin which host the world class Tambogrande deposits in northern Peru. Like the Lancones basin, much of the key target areas in the Paramonga sub-basin are unexposed due to late hanging wall volcanoclastic and volcanosedimentary geological cover as well as Quaternary cover resulting from alluvial fans and desert aeolian sands. Several large hydrothermal centers have already been recognized on GlobeTrotters property associated with chlorite-hematite +/- sericite alteration in close proximity to footwall dacitic domes and also surrounding prominent hills of massive silica.

 

The property was under option to Lundin Mining since late 2013 but was returned to GlobeTrotters in December 2016. As part of the option agreement Lundin completed an airborne VTEM geophysical survey which outlined several high priority targets in covered areas. These targets were not tested by Lundin before dropping their option on the property

 

GlobeTrotters has received permission from the communities to do early stage exploration including mapping, geochemical sampling and ground geophysics on community cotrolled land. The company has has difficulty getting access to areas under the conrol of local poultry farmers in the area. Efforts are still ongoing to try and resolve this issue.

 

Then Paramonga property provides an excellent opportunity for the discovery of a new VMS deposit in Peru. GlobeTrotters is actively seeking a joint venture partner for this property.