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Sarita is a 100%-owned project located in the SW of the Deseado Massif, an area recognised for high grade epithermal silver mineralisation. The project is situated 10 kilometres along strike to the NW from the Mina Martha silver mine (Hunt Mining Corporation) and 25 kilometres from the Manantial Espejo mine (Pan American Silver Corporation). The project was acquired from Barrick Gold Corporation during 2007.

Highlights

  • Located in the silver rich, SW domain of the Deseado Massif, Santa Cruz Province, Argentina
  • Rhyolitic flow-domes in the core of a low-sulfidation quartz vein swarm on the flanks of a regional scale caldera
  • More than 10 km of veins mapped to date
  • High grade gold (to 83 ppm) and silver (to 15,444 ppm) reported from surface sampling
  • Located 10 km along strike to the NW of the Mina Martha silver mine which has spare processing capacity
  • Provincial road access through the project area

Geology and Mineralisation

The Sarita project comprises a central rhylotic flow-dome complex located within a swarm of NW-SE striking, steeply dipping low-sulfidation style banded quartz veins hosted within shallow dipping dacitic to rhyolitic pyroclastic deposits of the Jurassic aged Chon Aike Formation.

Geologically the area displays very similar structural and stratigraphic characteristics to Mina Martha located further to the south-east, with Ag rich, polymetallic, vein hosted intermediate-sulphidation style mineralisation typical of the district. NW-SE striking lineaments can be traced between Sarita and Mina Martha. Both Sarita and Mina Martha projects are interpreted to be located on the margin of a large caldera structure.

Two principal styles of mineralisation have been identified at the Sarita project:

  • High grade, silver and polymetallic rich, colloform-crustiform banded, low to intermediate-sulphidation, epithermal vein hosted mineralisation
  • Low grade, bulk tonnage, Las Calandrias style mineralisation with precious metals hosted in the autobrecciated carapace facies of a rhyolitic flow-dome

Several discrete mineralised corridors hosting persistent quartz veins/breccias in NW-trending structures have been identified. The total length of the mapped structures is approximately 10 kilometres, within a 4 kilometres wide structural corridor, and include quartz veins, veinlets, stockworks and quartz vein-breccia structures associated to WNW faulting and silica/illite (+/- adularia) alteration. Textures are represented by colloform/crustiform, comb, CRT, cockade, massive, ochreous and zoned quartz. Precious and base-metal mineralisation has been recognised in quartz veins-breccias up to 3 m wide at surface, composed of quartz + sulphides. Rock chips from discrete vein structures or aligned float have returned anomalous gold samples with up to 83.40 ppm Au and up to 15,444 ppm Ag, in separate samples; as well as several samples with > 1 per cent copper.

Work to Date

Mapping, channel sampling, trenching, Gradient Array IP and ground magnetic surveys, and 29 drill holes for a total of 3,469 m. The majority of the exploration activity has focused on the central dome complex intersecting broad zones of low grade silver-gold mineralisation. More than 10 kilometres of quartz veins have been mapped in the southern sector of the project only with rock chip samples reporting gold values to 83 ppm and silver to 15,444 ppm from the quartz vein system. To date, only 16 short drill holes have targeted the vein system.

Exploration Potential

High grade vein-hosted low-sulfidation silver mineralisation and low grade Las Calandrias style dome-hosted mineralisation. More than 10 kilometres of veins to be evaluated.

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