Mineworx plans to obtain an exploration permit to commence a work program to confirm the historic 25 – 30 million ton mineralization in accordance to a National Instrument 43-101 resource estimate, outlined by the previous 38,000 metres of drilling on the property.
During 2015 a 1,212-line-kilometre helicopter-borne magnetic survey was completed which provided excellent resolution of near-surface magnetic sources, representing a major improvement over prior regional aeromagnetic surveys. Most of the magnetic sources detailed on the aeromagnetic survey are judged to be quite shallow, representing near-surface mineralization.
2020 Validation Program
- Step 1 – Regional Reconnaissance
- Reconnaissance exploration to identify unexplored anomalies
- 15 – 18 RC drill holes totaling 2,200 meters
- Depth: 120 to 150 meters
- Step 2 – Exploration of Deposits (Coloso, Soledad, Villamejor)
- 2 RC drill holes on each side of the three deposits along strike, 100 meters per hole
- Potential to increase existing 25 to 30 Mt estimated magnetite mineralization
- Step 3 – Validation of Deposits
- 4 diamond drill holes per deposit to validate the historical drilling and recovery data
- 100 metres per hole
The Company anticipates completion of the Validation Program by Q2 – 2018