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Targets: Copper-gold porphyry intrusions and associated skarns in the Sayan-Altaids arc system
Area: ~82,506 ha, or ~825 km2
Location: Khovd Aimag, western Mongolia
Ownership: 4 tenements (Yol) owned 100% by Altan Rio & 5 tenements (Chandman) owned 100% with a 2.5% NSR
The Chandman-Yol property area is located in mountainous basin and range country in eastern Khovd Aimag, western Mongolia, about 1,050 km west of the capital Ulaanbaatar. It consists of 9 tenements, all of which are 100% owned by Altan Rio, with the 5 Chandman tenements being subject to a 2.5% NSR.
Altan Rio has secured an extensive tenement position focussed on epigenetic, porphyry copper-gold mineralisation, and stratabound skarn copper-gold mineralisation related to Cambrian-aged granitic intrusions, and gold-copper mineralised fault zones. Mineralized zones span a distance of 60+ km across the project area, representing a new large-scale copper-gold district.
Two drilling campaigns consisting of 17 diamond drill holes (5,167.7 m) were completed in 2009 and 2010. Significant gold-copper mineralisation was intersected in 3 of these recently completed drill holes (CH-09, CH-10 and CH-16). The best intersection was in the DDH CH-09 Del target skarn zone:
The 2010 and 2011 exploration seasons at the Chandman-Yol project produced several new and highly promising targets from a combination of geological mapping, large geochemical survey grids and reconnaissance IP profiles. The two most advanced targets, Ovoot and Takhilt, were drilled in 2012.
Ovoot – Discovered by reconnaissance profiling, this high amplitude IP chargeability anomaly (35+ msec), the strongest anomaly identified on the Chandman Project to date, is at/near surface and of substantial size, with dimensions of 2+ km long, 1 km wide, and possibly 500 to 800 m thick. Copper staining is visible in vertical fractures at surface directly above the IP feature, which provides strong evidence of geochemical leakage from depth.Two holes were drilled at Ovoot in 2012, 1.8 km apart, to test two concealed but coincident IP and magnetic anomalies. Both holes encountered only low-level gold and copper anomalies. Further drilling is warranted at Ovoot, though of lesser priority than Takhilt, to test areas of coincident geochemical and IP-Magnetic anomalies. The Ovoot structure is large – 2+ km long, 2+ km wide – and cannot be considered adequately tested with only two wide-spaced reconnaissance holes.
Takhilt – An outcropping copper-gold porphyry intrusion with disseminated copper oxide staining named Takhilt was discovered in 2011 by geological mapping in the northern Yol licenses of the project. Follow-up soil geochemical sampling delineated a robust copper soil anomaly about 600 m in diameter. Rock chip sampling locally assayed up to 30 g/t gold and +1% copper. Targeted IP profiles imaged moderate to strong (30+ msec) chargeability responses that extend to about 2 km along strike, and remain open to the east.Five moderately wide spaced holes were completed at Takhilt in 2012 and several new zones of gold and copper mineralization were intersected, including a shallow intercept beginning at 16.30 m from surface of 8.05 m at 1.77 g/t gold, including 2.5 m @ 5.38 g/t gold. These zones are open down dip and along strike and warrant follow-up drilling along the entire 1.5 km extent of the Takhilt structure.
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