Amera finds 1,095 ppb gold in silt anomaly on Esperanza
2005-09-16 09:55 ET - News Release
Mr. Nikolaos Cacos reports
AMERA RESOURCES CORPORATION: SURFACE EXPLORATION RESULTS RECEIVED; NEW ANOMALY IDENTIFIED ON ESPERANZA PROJECT, PERU
Amera Resources Corp. has received gold results from the recently completed surface-work program on the 16,000-hectare Esperanza gold project, located within the prolific Miocene gold-silver belt of southern Peru. The program focused on detailed mapping and further sampling of Zona Ventana and Zona Afuera, and discovered a new zone of alteration named Zona Aquino, which was mapped over a 2.3-kilometre-by-0.5-kilometre area, seven kilometres east of Zona Afuera. Amera holds a large land position between these zones and the Poracota gold project operated by Cia de Minas Buenaventura S.A.A.
Seven gold targets have been identified to date on the Esperanza project, including the Zona Ventana, an epithermal alteration zone with anomalous gold extending for more than one kilometre along an incised river valley and spanning 150 metres of elevation change. In addition to highly anomalous gold, elevated epithermal pathfinder elements occur over the entire length of the zone. Prior to Amera's discovery, no modern exploration has been conducted in the Esperanza project area.
The Esperanza gold project has potential for both large bulk-tonnage-grade epithermal gold targets as well as bonanza-grade veins. The company is earning a 100-per-cent interest in a portion of the property (3,000 hectares plus a two-kilometre area of interest) from Arcturus Ventures Inc. The remainder of the 16,000-hectare property is wholly owned by Amera. The Esperanza project is located in northern Arequipa department in Southern Peru, situated approximately 45 kilometres southwest of Newmont/Southwestern Resources' Liam gold-silver discovery.
One significant silt anomaly of 1,095 parts per billion gold was returned from an east-flowing creek in the northeastern portion of the property. A check analysis on the assay reject from this sample confirmed the anomaly. The area upstream from this sample site contains intense Aster silica anomalies and will be followed up in the near future.
Amera is pleased with the progress that has been made in evaluating the large Esperanza gold project over the past several months. Trace element data from the recent sampling and a geophysical interpretation will be available shortly, and will aid in formulating plans for the next stage of work at Esperanza.
Technical summary
A total of 47 rock samples, 94 soil samples and 17 stream-sediment samples were collected. All soils samples were collected from a grid centred over the most anomalous area of Zona Ventana.
A total of 14 new rock-chip samples were collected from Zona Ventana, a greater-than-one-kilometre-long trend of strongly anomalous gold and epithermal pathfinder elements, which is exposed by a north-trending incised river valley. Two semi-contiguous north-south-oriented chip-sample lines comprising 11 samples were completed approximately 17 metres west and up the slope of where previous sampling was carried out. One averaged 0.58 gram per tonne gold over 40 metres and the second averaged 0.22 gram per tonne gold over 15 metres. The most strongly mineralized area of Zona Ventana, defined by detailed sampling to date, is approximately 60 metres by 40 metres in size and occurs on the western bank of the north-trending drainage. The total length-weighted average for all 23 chip samples collected within this area to date is 0.71 gram per tonne gold over 116 metres. An open gold soil anomaly measuring 230 metres by 190 metres, with values ranging up to 194 parts per billion gold, corresponds to, and is strongest down-slope from, this area.
Detailed mapping, hand trenching and sampling were carried out at Zona Afuera, located two kilometres south of Zona Ventana. Zona Afuera consists of two main occurrences -- previously reported composite rock-chip samples assayed as high as 0.61 gram per tonne gold from a six-metre-by-six-metre panel sample. Detailed mapping, coupled with IP/resistivity data, suggest that both occurrences are localized on the western margin of a rhyolite flow-dome complex and are manifestations of a low-sulphidation epithermal gold system. Much of the surface in the area is covered by glacial and postglacial sands, however, boulders of rhyolite and pumice are widespread over the top of the subcropping dome. Trench mapping revealed that both showings consist of a central zone of limonitic-chalcedonic veinlets, hosted by rhyolite autobreccia, enveloped by a halo of moderate to strong argillic alteration. Both the veins and peripheral alteration envelope demonstratively host strongly anomalous gold mineralization.
Like Zona Ventana, Zona Aquino is exposed in a broad north-trending valley where alteration is exposed in the lowest portions of the valley. Portions of the silicified rocks exhibit vuggy textures and contain fine-grained pyrite co-existing with kaolinite. The silica is white to semi-transparent and chalcedonic. Overlying the argillic zone to the south is a layer of propylitic (chlorite-pyrite) alteration. A total of 13 rock samples were collected from the area -- the highest gold value was 16 parts per billion gold. Zona Aquino is interpreted to represent the uppermost portions of an acid-sulphate system. The low gold values from samples collected to date indicate that gold-bearing portions of the system, if present, are not exposed at the present erosion level.
The analyses for the samples reported herein were performed by ALS Chemex Laboratories, an internationally recognized assay service provider, in Lima, Peru, and North Vancouver, Canada. Work reported on in this release was carried out under the supervision of John Brophy, PGeo, a qualified person as defined by National Instrument 43-101. The technical information contained in this release has been reviewed by Dr. David Terry, PGeo, vice-president, exploration, Amera, also a qualified person as defined in National Instrument 43-101.
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