HSE Gold Project
Available for Partnership
In 2012, Mirasol staked a large land package containing nine projects in the newly discovered Gorbea Belt, securing an area with broad prospective alteration systems identified by its generative team. Detailed ground follow-up of these targets identified large outcropping gold systems at the Atlas and Titan projects.
After some initial work completed by Mirasol, the Gorbea package was optioned to Yamana Gold from 2015 to 2018. During this period, Yamana spent more than C$10 M on exploration expenditures and drilled more than 11,000 m on the project. From 2019 to 2022 the Gorbea package was optioned to Newcrest Mining to further advance exploration. During the exploration partnership, Newcrest completed over 7,500m of drilling and reported exploration expenditures of approximately US$11.6 million on the property representing a significant investment on the project.
The Gorbea belt comprises of nine 100%-owned claim blocks totalling 32,000 ha and includes the Atlas and Titan prospects. The Atlas project is centred on a +20 km2 HSE gold alteration system hosting multiple gold and silver targets and contains many of the key geological, mineralization features and area extent to other economic systems in the area, such as Salares Norte (Gold Fields), Alturas (Barrick Gold) and La Coipa (Kinross Gold), supporting its potential to host large-scale gold mineralization.
The latest round of drilling on the Atlas project, brings the total drilling to nearly 18,000m in 40 holes by both Mirasol and previous partner, and demonstrates widespread mineralization within the central breccia complex.
During the first half of 2019, Newcrest, as the operator of the Gorbea exploration program, completed two diamond drill holes for 903 m, 50 km of CSAMT geophysics over the Atlas target as well as reconnaissance mapping and sampling over several other target areas in the Gorbea property package. Drilling was initially targeting a coincident geophysical, geochemical and alteration anomaly at depth below a barren steam-heated leach cap, following up on previous drilling results.
During the 2019/2020 field season, Newcrest completed 9 additional drill holes at the Atlas target, for a total of 4,523 m of diamond drilling this season. Best Results from the season included:
In late 2021, NCM completed five reverse circulation drill holes for 2,072m, with two holes at the Atlas prospect and three holes at the El Dorado prospect and no meaningful mineralization was encountered in these holes.
At Atlas, hole ATLT0011A targeted the extension to the southeast of a silicified polymictic breccia body outcropping on surface (Apollo Breccia) coinciding with a high-resistivity feature. Although vuggy silica texture, quartz alunite alteration and pathfinder elements were intersected, the lack of Au values indicates a peripheral position to the mineralized centre. Hole ATLT0012 was drilled to test for potential continuation to the north in the Atlas Central zone. The results limit the potential of the mineralized body in a northerly direction, but some potential remains to both the east and west to extend the mineralization and explore for higher-grade mineralization. One potential target lies to east-southeast where pathfinder elements, alunite composition and Au values combine with a high-resistivity anomaly.
At El Dorado, the drill holes targeted a combination of positive features, including a high-resistive feature, a polymictic breccia body with vuggy silica fragment and a steam-heat zone, all associated with elevated pathfinder elements. No further work is planned at El Dorado in the short term.
NCM has informed the Company that it is now focused on reviewing other untested prospects at Gorbea (Ventura, Orion, Danay and Aldebaran) with further surface mapping, geochemistry and possible geophysical surveys to identify potential drill targets.
During the three years of exploration at Gorbea, Yamana focused its drilling activity exclusively on the Atlas and Titan projects. The best drilling results on the Atlas project were received in 2017 from holes 15 and 16:
To learn more about the project and recent exploration results see all current and historical news releases.
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