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Cerro Grande Mining Corp.
Summary
| Project: | Pimenton | |
|---|---|---|
| Deposit: | Pimenton, Tordillo | |
| Location: | Chile | |
| Commodities: | Gold-Copper | |
| Date: | 7/26/2016 | |
| Report Code: | NI43-101 | |
| Report Type: | Resource Estimation | |
| Project Stage: | Mine in Care & Maintenance | |
| Report details: | 26-7-2016: Cerro Grande Mining Corp. announces a Resource Estimation report for its Pimenton, Tordillo deposit at the Pimenton project. Updated mineral resources and ore reserves at Pimenton project and surrounding property. This Technical Report for Comp | |
| Resources: | (Reserve, P+P): 69000t @ 12.1g/t Au, 1.2% Cu at Pimenton | |
| CP/QP: | [Resources]: James A. McGregor (Watts, Griffis & McOuat Ltd.) | |
| ABSTRACT: | This Technical Report for Compania Minera Pimenton ("CMP") describes mineral properties in Central Chile. It was commissioned in a letter agreement dated September 22, 2015 between Watts, Griffis and McOuat Limited ("WGM") and CMP, a wholly owned subsidiary of Cerro Grande Mining Corporation (“CEG”). This report incorporates and updates information on these properties that is in a Technical Review prepared by WGM for South American Gold and Copper Company Limited ("SAGC"), dated January 31, 2011; and a Technical Report prepared by WGM for CEG dated December 17, 2013. SAGC was renamed CEG as a result of corporate re-organization in March, 2011. The setting of the Pimenton Mine and CMP properties is within the San Felipe cluster of Miocene age porphyry intrusions and related Cu-Mo-Au mineralization in the Central Andes. The regional geology is dominated by Upper Cretaceous to Mid Tertiary volcanic and sedimentary formations that are folded, faulted, and intruded by porphyry stocks that vary in size, texture and diorite-type composition, and in the impact on the intruded formations. Associated with these intrusions are large to very large hydrothermally and geothermally altered areas. Ideally, mineralization is present centrally and is accompanied by potassic alteration represented by secondary biotite, high-temperature/pressure minerals such as alunite, and potassium feldspar. Outward, 'shells' may be present of cream or green quartz and sericite (phyllic), and then greenish chlorite, epidote, sodic plagioclase and carbonate (propylitic) alteration. Under some circumstances, white, chalky clay (argillic) alteration occurs. | |
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