CHILE
San Lorenzo
25,680 HA.
The San Lorenzo project, located 50km northeast of the coastal city of La Serena, comprises 25,680 ha of exploitation and exploration concessions both granted and in the process of being granted. GSC owns rights to 100% of the projects via a US$2m Purchase Option Agreement payable over 6-8 years with no additional royalty payments or consideration to vendors.
Geology and Exploration Targets
Historical miners at San Lorenzo and within the district more broadly typically targeted structurally-controlled, high-grade secondary copper and oxide gold mineralisation. This style of mineralisation is not uncommon in the distal environment surrounding (and above) porphyry copper systems and may provide a stand-alone target to high-grade copper deposits and/or a vector to larger, lower-grade porphyry copper style mineralisation. In addition, at San Lorenzo, evidence of artisanal placer gold mining activity in two locations either side of the Chinchillon ridge supports the possibility that the project area is prospective for gold-rich copper deposits.
Work to date by GSC (mapping, sampling, trenching and drilling) has discovered outcropping evidence of porphyry Cu-Au style mineralisation including high-level UST alteration associated with clustered monzonitic stocks hosted within, and potentially overprinted by, proximal to distal sheeted fracture-vein systems persistent within the enclosing granodiorite intrusive. The alteration appears to define a broad core of inner calc-potassic alteration (actinolite-magnetite-quartz-Kfeldspar) that is coincident with medium-high grade copper-gold anomalism in rock chip samples.
The early work by GSC suggests that the geology and style of alteration-mineralisation observed at San Lorenzo is consistent with alkalic-type porphyry Cu-Au deposits such as the Cadia Valley and North Parkes deposits in NSW, Australia.
Most recently, the company received the results of reconnaissance sampling at the newly acquired Suyay prospect, within the San Lorenzo project area, with results up to 4.13g/t Au and 1.75% Cu. The anomalous geochemistry combined with our early understanding of the geology and controls on mineralisation now suggests that there is potential at Suyay for a high-level gold-rich porphyry or intrusive-related system.
Exploration Programme
The company is now planning to advance its exploration and target definition work for large scale porphyry and IOCG type deposits at the San Lorenzo Project. The company has identified a number of large radiometric anomalies potentially representative of porphyry-type silica-clay-sericite alteration which it intends to target in the next period with regional mapping and sampling programmes.
