Buena Esperanza Proyect
The Buena Esperanza project is located in the southeastern sector of the Deseado Massif, at 100 km to the southwest of Puerto Deseado city and at about 35 km WSW of the Cerro Moro Au-Ag mine (under construction in Joint Venture with Yamana Gold).
The area of the project is secured by two mining properties, covering a total area of 5000 ha. The mineralization of Au and Ag in this project occurs in narrow veins (less than 1 m) of quartz with massive, comb, crustiform-colloform, and bladed textures, as well as some breccias. The veins contain pyrite, chalcopyrite and scarce galena, and are hosted mainly in the La Golondrina (Permian) and Chon Aike (Jurassic) Formations.
The most prospective sector in the Project is called Vetas del Dique, which is a NNW-trending strip that includes a main vein, called Veta del Dique, and a sub-parallel secondary vein. Towards the south of this sector, there are other veins of similar width located along the same trend of veins. In addition, minor veins are scattered over a large part of the project area.
The only intensive exploration work was carried out in the Vetas del Dique sector. The veins were mapped, 700 m of trenches were opened and sampled (334 samples) and 17 diamond boreholes were drilled (1500 m). The boreholes were designed to intercept the veins at depths between 30 and 100 m. With those boreholes, two ore shoots, with high concentrations of gold and silver, were delineated. The highest concentration of Au detected in the project is 81 g/t, (in the southern sector of the Veta del Dique vein); while the highest concentration of Ag is of 8010 g/t in the subsurface.
Fomicruz’s geologists think that based on the work carried out, it can be inferred that the Veta del Dique area represents a Au-Ag mineralized portion of a low sulfidation epithermal system, with high potential for finding ore shoots.