Capricho Property
Property Location and Description
Claim Size: 3,768 hectares
Mineralization: Copper
Capricho is located in southern Peru, about 35 km southwest of the Constancia copper mine and about 200 km north of the city of Arequipa in the Department of Cusco, on the border with the Department of Arequipa. The property contains 3,768 hectares with an outcropping porphyry copper-gold – molybdenum system. The property was discovered through a regional exploration program in January 2010, which led to the application for a 600 hectare concession and the property was expanded in 2017 prior to establishing the Option Agreement with Lowell Copper.
Geology, Alteration and Mineralization
Recent prospecting work on the claims has identified a window of outcropping porphyry copper style mineralization with stockworks and altered intrusive rocks. Mineralization is hosted by monzodioritic porphyries of the Andahuaylas-Yauri Batholith (48-32 Ma), which outcrop as “windows” cutting calcareous volcanic-sedimentary rocks of the Orcopampa Formation (34-23 Ma). Hydrothermal alteration at Capricho covers an area of 1.0 km x 1.5 km strike length, elongated in a northwesterly direction. The predominant alteration is argillic in the pyroclastic tuffs, silicification and replacement in the limestones, and phyllic alteration in the monzodioritic porphyry “window.” Mineralization occurs in the quartz-barite-pyrite-chalcopyrite-tetrahedrite – sphalerite stockwork hosted in volcanics, and in the quartz-pyrite-chalcopyrite veins in monzodiorite along the 45m “window”.
Samples collected in the porphyry yielded up to 0.8% Cu and up to 3% Cu in the secondary enrichment zone; They also contain anomalous values of:
- Mo up to 0.03%
- Au 0.1 – 2.18 ppm
- Zn up to 2.25%
- Ba 1000 – 7,429 ppm
Joint Venture Terms
Solaris Resources Inc.(TSX:SLS / NYSE: SLSR) (“Solaris”) Solaris has an option to earn a 75% interest over three stages. Solaris must obtain all necessary agreements and permits for drilling and spend US$5 million during the first three years for a 51% interest. An additional 24% interest, for a total of 75%, can be earned after Solaris spends US$14.5 million over the next four years, solely funding a PFS on the project, and pays US$0.5 million to Copper Standard.
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