Exploring the Mande Batholith. November 15, 2017

Transcription

1 Exploring the Mande Batholith November 15, 2017

2 Minera Cobre de Colombia (MCC) MCC controls a highly prospective porphyry Cu portfolio covering 3,300 km 2 in 145 mineral concessions within 200 km strike length of the Eocene porphyry Cu belt 3 Drill Ready Targets Pantanos (100%) Murindo (100%) Urrao (61%) 9 Advanced Stage Geophysical and Geochemical Targets 71 Early Stage Prospects Geophysical and Geochemical Targets Objective is to develop large copper resources through detailed delineation and scoping economics to the point of asset sale to major or mid-tier producers 1

3 Targeting the Mande Batholith Mande Batholith Medellin Porphyry Cu Belts in the Andes (Sillitoe and Perelló, 2005) 2

4 Tectonomagmatic Setting Western Cordillera The Western Cordillera is made up of an immature Cretaceous to Early Tertiary island arc terrane constructed on oceanic crust It hosts a belt of Eocene porphyry Cu prospects that extends southward into Ecuador and northwestward into Panama (After Sillitoe et al, 1982) 3

5 Tectonomagmatic Setting Mande Batholith Principal Sutures: 1. Grenville Santa Marta-Bucaramanga-Suaza Faults 2. Ordovician-Silurian Palestina Fault System 3. Aptian Romeral Fault System 4. Oligocene-Miocene Garrapatas-Dabeiba Fault System 5. Late Miocene Atrato Fault System CA-VA = Cajamarca- Valdivia Terrane MMB = Middle Magdalena Basin Pz = Paleozoic K = Cretaceous P = Paleogene N = Neogene (Cediel et al, 2003) 4

6 Mande Batholith Tectonomagmatic Setting The Eocene Mande Batholith is part of a magmatic arc emplaced within submarine tholeiitic basalts and oceanic sediments of early to late Cretaceous age The batholith is 200 km long and is transected by the regional-scale arc-parallel Murindo Fault Major movement on the Murindo Fault predates porphyry Cu mineralization but deposits are located in proximity to the fault system Murindo Fault Acandi Batholith Mande Batholith Ibague Batholith Segovia Batholith Antioquia Batholith Medellin Sonson Batholith San Lucas Batholith 5

7 Regional Geology Quaternary Paleocene-Eocene Lower Miocene Recent sedimentary deposits Mande Batholith: quartz diorite, diorite, gabbro Atrato Group: sediments Paleogene-Miocene Paleogene Lower Cretaceous Upper Cretaceous Lower-Upper Cretaceous Diorite to granodiorite Atrato Group: sediments, volcanics Canas Gordas Group: sedimentary member Santa Cecilia-La Equis Complex: volcanics Canas Gordas Group: volcanic member 6

8 Targeting the Mande Batholith Exploration History Initial interest in porphyry Cu exploration followed discoveries by the UN in Panama in the late 1960 s (Petaquilla, 1967) Regional reconnaissance stream sediment sampling campaigns: o Ingeominas and the USGS (1970) o Ingeominas and the UN (early 1970 s) o Ingeominas and the BRG ( ) Follow-up stream sediment, soil and rock chip sampling Murindo Fault Mande Batholith Medellin 7

9 Targeting the Mande Batholith Exploration History Stream Sediment Geochemistry The first porphyry Cu discoveries in Colombia were Pantanos and Murindo, which resulted from follow-up of stream sediment geochemical anomalies generated in the 1970 reconnaissance sampling campaign During the last 10 years Glencore and AngloGold Ashanti carried out extensive airborne magnetic and radiometric surveys over the Mande Batholith Pantanos Murindo 8

10 Targeting the Mande Batholith Stream Sediment Geochemistry Murindo RTP Magnetics K Radiometrics Murindo Fault Pantanos 9

11 Pantanos Exploration History Murindo Fault Follow-up in the 1970 s and 1980 s by Ingeominas included extensive stream sediment, soil and rock chip geochemistry over an area 5km by 1km Outcropping porphyry Cu-Mo mineralization associated with several distinct dacite and quartz diorite porphyry bodies and hydrothermal magmatic breccias within the Mande Batholith Ingeominas drilled 20 holes in the early 1970 s and early 1980 s targeting surface geochemical anomalies and outcropping mineralization Mande Batholith 10

12 Pantanos Rock Chip Geochemistry and Historical Drilling Pegadorcito Murindo Fault Chontadura Pantanos West Pantanos Central 11

13 Pantanos Historical Drilling 20 historical drill holes (early 1970 s, early 1980 s) returned up to % Cu and 0.009% Mo Deepest hole was 333m 8 holes terminated in strong mineralization Historic Drilling Highlights Hole From (m) To (m) Int (m) Cu (%) Mo (%) DDH DDH DDH DDH DDH Intersected dominantly serictic alteration (with relict potassic alteration preserved at the deepest levels) and chalcopyrite, bornite, pyrite and molybdenite in quartz stockworks and disseminations Shallow leached capping with primary sulphides intersected at or near surface 12

14 Pantanos (Sillitoe, 2010) 13

15 Pantanos Exploration History Pantanos mineral concession was awarded to Glencore by Ingeominas in 2007 following an international bidding process Extensive IP survey by Glencore in 2013 defined a strong 4km by 1km chargeability anomaly The best historical drill holes were on the eastern flank of this anomaly, which remains largely untested Murindo Fault Pantanos Mande Batholith Medellin 14

16 Pantanos Chargeability Anomaly Murindo Fault Pegadorcito Chontadura Pantanos West Pantanos Central 15

17 Pantanos Chargeability Anomaly Murindo Fault Pegadorcito Chontadura Pantanos West Pantanos Central 16

18 Pantanos Chargeability Anomaly W L350 0 DDH-12 E DDH % Cu 0.009% Mo Cu ppm Mo ppm 17

19 Pantanos Chargeability Anomaly Glencore estimated that these 5 holes represent 0.6% Cu and 0.010% Mo within a very small part of the exploration target 100 ha ha 18

20 Pantanos Outcropping Mineralization Quartz-chalcopyrite-bornite-molybdenite stockwork mineralization 19

21 Pantanos Outcropping Mineralization Chalcopyritebornite veining 20

22 Pantanos Ore Petrography Bn. Drill hole 12 (depth m) Cp. mo bn mo cp 21

23 Pantanos Geology and Geochronology Pantanos Concession Boundary Murindo Fault Quartz Diorite and Dacite Porphyry Stocks emplaced within the Mandé Batholith (Re-Os Dates: Ma) Pegadorcito Chontadura Mandé Batholith U-Pb: 47.1 Ma Pantanos West Pantanos Central Historic Drill Holes 22

24 Pantanos Whole Rock Sr/Y Ratios High Sr/Y ratios of all mineralized porphyries and breccias in contrast to low Sr/Y ratios from the Mandé Batholith Pegadorcito Chontadura Pantanos Central Mandé Batholith Pantanos West 23

25 Cu-Ore-Forming Arc Magmas Pantanos Ore-forming intrusions related to a global reference suite of 135 important Cu deposits Nearly all Au-poor giant porphyry Cu deposits (e.g. Chuquicamata, Rio Blanco, Escondida, El Abra and El Salvador) plot at Sr/Y ratios > 40 (mostly >70) and have SiO2 > 60 wt%. (Loucks, 2014) 24

26 Pantanos Magnetics and Whole Rock Sr/Y Ratios Murindo Fault Pegadorcito Chontadura Pantanos West Pantanos Central 25

27 Pantanos K Radiometrics Murindo Fault Pegadorcito Chontadura Pantanos West Pantanos Central 26

28 Pantanos Cu Soil Geochemistry Murindo Fault Pegadorcito Pantanos Central Chontadura Pantanos West Cu ppm 27

29 Pantanos Mo Soil Geochemistry MCC has successfully Murindo Fault Pegadorcito Pantanos Central Chontadura Pantanos West Mo ppm 28

30 Murindo Exploration History Recognized by Ingeominas in 1970 on the basis of reconnaissance stream sediment geochemical anomalies Murindo Fault Murindo Mande Batholith Medellin 29

31 Murindo Murindo Fault Exploration History Subsequent follow-up ( ) included extensive stream sediment, soil, and rock chip geochemistry, Identified an anomalous area 10km by 2km containing 4 distinct porphyry Cu centres Mande Batholith 30

32 Murindo Exploration History Focus on La Rica Zone where outcropping quartz diorite porphyries exhibit intense potassic alteration (K-feldspar and secondary biotite) and abundant magnetite veinlets and disseminations La Rica rock chip sampling returned an area averaging 0.94% Cu and 0.39 g/t Au No historical drilling Arguably the most important untested porphyry Cu-Au target in Colombia 31

33 Murindo Geochemistry Cu Soil Geochemistry Sr/Y in Stream Sediments La Rica Zone 32

34 Murindo Outcropping Mineralization 33

35 Murindo Outcropping Mineralization 34

36 Urrao Urrao Project Summary Broad intense chargeability anomaly measuring 3km by 1 km Coincident with zone of rock sampling that returned up to 14% Cu Intense sericitic alteration is seen at surface Target is ready for drilling Murindo Fault Urrao Mande Batholith Medellin 35

37 Urrao Chargeability Anomaly 36

38 Urrao Soil Geochemistry 37

39 Urrao Soil Geochemistry 38

40 Urrao Outcropping Mineralization 39

41 Urrao Outcropping Mineralization 40

42 November 15, 2017 Thank You! Exploring the Mande Batholith