Patriot Resources has identified a new mineralized zone at its Pachamayo target in southern Peru, located two kilometers northeast of its existing 31.4 million-ounce silver-equivalent Tassa resource. Maiden surface sampling at the Elvira sector revealed a 120-meter-long by 20-meter-wide mineralized opaline silica breccia containing silver, lead, zinc, copper, and molybdenum. The company’s initial exploration program at Elvira covered 65 hectares and involved the collection of 38 surface rock samples. Notable results included a rock sample grading 27.7 grams per tonne (g/t) silver, 3,000 parts per million (ppm) lead, and 2,550 ppm arsenic. A second sample returned 17.6 g/t silver, 111 ppm antimony, and 36 ppm bismuth. Additionally, sampling of surrounding altered volcanic tuffaceous rocks yielded grades of up to 1,130 ppm zinc and 343 ppm molybdenum, as well as 1,695 ppm lead and 246 ppm molybdenum. Patriot management stated that the silver-base metal and pathfinder element association is consistent with a classic epithermal signature similar to the main Tassa zone. The company noted that the presence of opaline silica at the surface may indicate that the system is well-preserved, with potential high-grade mineralization located beneath the silica cap. Investigations are currently underway to determine whether the Elvira mineralization is an extension of the Tassa hydrothermal system or a separate mineralized center. The Tassa project currently holds a JORC-compliant inferred resource of 18.53 million tonnes at 52.68 g/t silver equivalent. Patriot has also outlined an exploration target of 359 to 422 million tonnes grading between 48 g/t and 57 g/t silver equivalent. This development occurs amid a period of increased investment in Peru’s mining sector, which saw US$3.3 billion in capital inflows during the first half of the year, a 42.7 percent increase compared to the previous year. Peru remains a significant global producer of silver, zinc, and molybdenum. Patriot Resources is currently awaiting drill permits for the main Tassa resource area. In the interim, the company plans to conduct further mapping and sampling across the two-kilometer corridor between Tassa and Elvira to assess the potential continuity of the mineralized zones.
Article source: The West Australian | Image credit: The West Australian