Dynacor Gold Mines Inc. (TSX: DNG) is pleased to announce that it has signed a drilling contract in order to commence a diamond drilling campaign at its Tumipampa property in Peru. Phase I of this campaign will begin in the next few days and will consist of 3,000 meters of drilling, during the next seven months.
The main objective of the drilling campaign is to explore and characterize 10 target structures that have been uncovered by a surface geological survey in 2006-2007 as well by earlier exploration work and a drilling campaign in 2002-2003.
Phase II of the drilling campaign will consist of a further 8,000 meters of diamond drilling. The company is confident that the overall 11,000 meters of drilling will yield sufficient data to determine an economic potential of the gold mineralization found within the Tumipampa Property.
THE TUMIPAMPA PROJECT
The Tumipampa project is located 500 km from the city of Lima, in the Circa district, Province of Abancay, Department of Apurimac. Dynacor Gold owns a total of 2,650 hectares which are adjacent to concessions being explored by the following companies: Meridian Gold, Bear Creek and Southern Peru.
The area is composed of quartzite and limestone of the Cretaceous, which contain important epithermal Au deposits intruded by the Apurimac Batholite, a well known metallotect that is related to many porphyric Cu and Au deposits in Peru.
During 2002 and 2003, a first exploration campaign was carried out in the NE area of the property, covering 300 hectares. Geophysical, surface geological and geochemical studies were carried out and a diamond drilling campaign (16 holes - total of 4,050 meters) was completed. The objective was to find a Au-Cu disseminated porphyry-type deposit in the quartzite. Results did not show gold dissemination, but the holes located near the outcrops of the veins showed significant gold grades. For instance, veins 1, Z, and A were intersected by drilling and the following gold assays were obtained: diamond drills HDD1 (7.33 g/t Au across 6 meters), HDD3 (8.20 g/t Au across 4 meters), and HDD6 (12.25 g/t Au across 2 meters).
In 2006, a reinterpretation and general review of the project as well as an initial survey in the field was done on the entire Tumipampa Property during which new veins were discovered and earlier known veins were further studied - all told adding up to a total of 10 structures with economical gold grades. The veins: 1, Z, 2007, San Pedro, Escondida, Esperanza, Porvenir, A, B and El Manto Dorado were also revealed by the presence of old surface work done during the colonial period. Channel sample analysis of the latter veins found grades between 1 and 25 g/t Au. Hydrothermal breccias in quartzite grading up to 1g/t Au were also identified.
In addition to the current drilling campaign, the company intends during 2007-2008 to carry out detailed geological mapping as well as geochemical and geophysical studies of the entire 2650 ha Tumipampa property. The objective of these studies is to locate possible extensions of the known veins that are covered by quaternary material, limestone and quartzite. -- www.cnxmarketlink.com
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