Argenta Proyect

After compiling the background information, Fomicruz carried out surface work, with the main objectives of mapping the veins, testing the accuracy of previous geochemical data, and planning further exploratory work, including drilling.

The Argenta project is situated in the Cerro Primero de Abril metallogenic district (Fig. 1), in the southwest of the Deseado Massif; it is only a few thousand meters north of the Martha silver mine. The project consists mainly of several sets of epithermal quartz veins, with an added total length of 11 km. The area of the project is secured by four mining properties covering almost 11,000 hectares. Most of the project has already been explored by other companies (Compañía Minera Polimet and Coeur Argentina) before Fomicruz S.E. reclaimed these mining rights in 2015.

After compiling the background information, Fomicruz carried out surface work, with the main objectives of mapping the veins, testing the accuracy of previous geochemical data, and planning further exploratory work, including drilling.

During 2016 the company completed 2262 m of diamond drilling in 16 boreholes distributed in 6 sectors of the project (Fig. 1 below).

 

The drilling demonstrated that the veins are continuous up to a vertical depth of at least 201 m, and that their thicknesses show variations but are similar to those at ground surface. At the same time, topography and surface geology tasks were conducted in the sectors where the drilling was done. All the works were carried out by Fomicruz’s own personnel and equipment.

 

Assays from several boreholes returned anomalous concentrations of Au and Ag in the veins. The concentrations in some of those intervals are shown in table 1.

Table: Best Au-Ag intercepts in boreholes
BoreholeInterval lengthAu (g/tn)Ag (g/tn)Best Au-Ag 1 m interval (g/t)
FAN-013 m0.5Au = 0.65; Ag =10.3
FAN-044 m0.493Au = 1.58; Ag = 10
FVS-011 m0.991Au = 0.99; Ag = 0.9
FAO-022 m1.0388Au = 1.32; Ag = 122
FAO-031 m0.715.6Au = 0.71; Ag = 4.6
FAM-021 m0.77521.9Au = 0.77; Ag = 21.9
Figure: Cerro Primero de Abril metallogenic district and Argenta project. The northernmost three of four veins systems are shown in the map, as well as the four Fomicruz's mineral properties, and the location of 16 boreholes drilled by Fomicruz.

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