Summary of work to date, continued

It is apparent that the drill just pierced the outer margins of one of the large high-amplitude IP features of the hypothesized “sulfide shell”. Soil geochemical surveys carried out by Altan Rio have shown pronounced copper-gold-zinc anomalies centred on and distal to a Cambrian-age porphyry intrusive complex (called the “KY intrusion”) approximately 4 km in diameter. The KY skarn zone southeast of the porphyry intrusive is the locus of strong copper-gold-silver-zinc geochemistry. Complex fault structures located to the west and southwest of the KY skarn zone show gold-copper-molybdenum soil geochemistry. Detailed IP and Resistivity surveys show that a number of strong anomalies are present within the KY intrusion itself, most strongly developed at depth, and within structural zones marginal to the intrusion. The IP chargeability feature at depth in the KY intrusion is a large-scale concentric feature nearly 2 km in diameter and up to 1 km in vertical extent, with a high resistivity core zone – geometry typical of other large, upright, copper-gold porphyry systems. The ground magnetic data shows a large annulus of pronounced magnetic anomalies surrounding and distal to the KY porphyry stock. The reduced to pole (RTP) magnetic data also shows several linear features, interpreted as major fault structures trending northeast-southwest and northwest-southeast across the southeastern flank of the porphyry intrusive complex.

Encouraged by the 2009-2010 results, the main higher chargeability portions of the anomalies were targeted in the 2011 field-season with a further 13 diamond drill holes (7,814.4 m). All drilling was wide-spaced, testing an area of about 4 x 3 km. The following results were achieved:

All holes drilled intersected elevated metal values, with frequent 0.5% Cu and 0.5 g/t Au from 1 to 3 m core samples

Highest gold grade achieved: CH-27, 1 m @ 28.02 g/t in a “sea” of low level Au and Cu

Reconnaissance hole CH-09 returned an impressive 32.13 m @ 1.49 g/t Au and 0.6% Cu

CH-28 silver intersections in the KY porphyry intrusion

13.2 m @ 43.12 g/t, including 1 m @ 106.31 g/t and 1 m @ 118.86 g/t

39.6 m @ 24.57 g/t, with 2.5 m @ 128.3 g/t and 2.2 m @ 114.26 g/t

Chandman Project - Drilling_sm
Chandman Project – Drilling

Chandman 2011 IPChandman Chargeability Cross-section Showing 2011 Drill Hole and Target Depth


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