Curiplaya Project
The Curiplaya Project (the "Project") covers an area of 3,964 hectares or almost 40 square kilometres. The Project is located near the village of Bramaderos in the Paltas Municipality of Loja Province in south-western Ecuador. The Project is located approximately 220 kilometres to the south-east of the port town of Machala and approximately 140 kilometres to the west of the city of Loja, the capital of the province.
The Project is accessible by vehicle from the city of Loja, a 2.5 hour drive, along the well-paved Pan-American highway which actually passes through the western portion of the Project. Loja is well serviced by daily flights (45 minutes) from the capital city of Quito. Vehicle access within the Project, along un-maintained dirt or gravel roads, is quite extensive in the north central portion of the Project. Further access elsewhere on the concessions is feasible only by foot along paths, streambeds and open ground.
The 40 square kilometres of concessions comprise conical hills and steep-sided ridges separated by relatively wide alluvial plains. The elevation ranges between 800 metres and 1,100 metres. Agricultural production is minimal because of the arid, semi-desert, climate. Several permanent creeks and rivers, fed from surrounding highlands, cut the concession.
The climate of the Curiplaya region is hot and dry (semi-desert) with an average daily temperature of 25oC. Annual rainfall is 797 mm with a wet season from the end of December to April. Vegetation comprises open forest and scrub. Land use is mostly pastoral with some crops grown in isolated fields (e.g. maize). The concession is located within the catchment area of the Rio Playas; a tributary of the Rio Catamayo that becomes the Rio Chira in Peru and eventually drains into the Pacific Ocean.
Previous History
UNDP & SPANISH AID MISSION (1970 - 1984): Mineralization at Curiplaya was first discovered in 1970 during a systematic regional-scale geochemistry survey completed by the United Nations Development Program (UNDP, 1972). Copper, lead, zinc, and molybdenum geochemical anomalies coinciding with zones of hydrothermal alteration were identified at Rio Playas. Between 1970 and 1984, the UNDP, in conjunction with the Spanish Aid Mission, followed up the regional survey with more detailed geochemistry and four diamond drill holes totalling 2,142 metres (drill cores location is unknown).
In 1999, Sr. Enrique Figeuroa of Loja applied for an Exploration Title for what is now the present Curiplaya Project, and in August 1999, he transferred the rights to this application to Mesaloma S.A., which was subsequently granted the Exploration Title by the government in February 2000. In January 2001, Mesaloma S.A. transferred its mining rights to Ecuanor S.A., an Ecuador-based "junior" Canadian mineral exploration company, whereby Ecuanor S.A. assumed the obligations and responsibilities of the original agreement between Mesaloma S.A. and Sr. Figueroa. In September 2001, the government replaced the Exploration Title at Curiplaya with the newly created General Concession Mining Title.
ECUANOR S.A. (2001 - 2002): Between 2001 and 2002, Ecuanor S.A. carried out extensive exploration of the Curiplaya Property including geological mapping, stream sediment and soil geochemistry (103 line kilometers at 100 x 400 metres and 100 x 100 metres sample spacings), rock chip geochemistry (700 samples), geophysics (magnetics: >40 line kilometers and induced polarization (IP): 17 line kilometers), and diamond drilling (3,243 metres of NQ2 in 13 inclined holes). Ecuanor S.A. samples were assayed by ALS-Chemex labs in Ecuador and/or possibly Canada, with thin sections prepared in Vancouver, Canada, and PIMA (Portable Infrared Mineral Analyzer) analyses carried out by the British Geological Survey mission in Ecuador. The results of Ecuanor S.A.'s exploration work are detailed in several reports including maps, drill logs and assays (Allen, 2000, Pratt and Allen, 2001, Val D'Or Geofisica Peru, 2000).
Ecuanor S.A. subsequently divided the stockwork zones into the (1) Porotillo Stockwork Zone, (2) Bramaderos Stockwork Zone, (3) Melonal Stockwork Zone, (4) Epithermal/Shear Zone, and (5) Limon Anomaly Zone, plus a number of un-named stockwork zones. Rock chip samples from these stockwork zones reportedly returned assay values of up to more than 2 g/t Au and 0.1-0.2% copper. "Anomalous" lead and zinc values were also found associated with skarn mineralization.
In January 2002, Ecuanor ceased exploration of the Curiplaya Property and transferred the rights to the Property to Sr. Figueroa.
Ecuanor S.A. drill data and gold and copper assay highlights:
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BRAMADEROS ZONE
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Drill Bearing / Total Gold Copper
Hole Inclination Depth g/t % Notes
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CURI_01 102/-45 193 m 0.52 0.07 None
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CURI_02 330/-45 100 m 0.29 0.055 None
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CURI_03 236/-44 257 m 0.57 0.14 From 67 m to 121 m, 54 m @ 1.07 g/t Au
From 231 m to 251.7 m, 26 m @ 0.80 g/t Au
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CURI_07 204/-70 90 m 0.35 0.08 Hole abandoned due to fracturing.
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CURI_08 204/-45 40 m 0.23 0.04 Hole abandoned due to fracturing.
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CURI_09 230/-55 452 m 0.23 0.07 None
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CURI_10 288/-59 194 m 0.08 trace Drilled down an acid-leached
zone? No quartz veining.
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CURI_11 015/-57 458 m 0.20 0.065 Sample of 2.5 g/t Au cut to 0.5 g/t
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CURI_13 216/-59 428 m 0.40 0.10 From 216 m to 318 m, 102 m @ 0.567 g/t Au
Max Au value 0.925 g/t Au.
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total 2,212 m
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MELONAL ZONE
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CURI_04 ? 147 m 0.168 0.045 None
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CURI_06 ? 153 m 0.28 0.07 None
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total 300 m
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POROTILLO ZONE
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CURI_05 180/-70 263 m 0.30 0.09 From 6.0 m to 30 m, 24 m @ 12 g/t Au
From 230 m to 263 m not sampled,
post-mineralization intrusive.
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CURI_12 240/-57 468 m 0.07 0.05 None
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total 731 m
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Taken from Jemielita, 2005
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Some core from the Ecuanor S.A. drill program (holes Curi_10 and 11 from Bramaderos) still exists and is in storage in Loja at a property onwed by Sr. Figueroa. However, the whereabouts of the bulk of the core is not known.
ASCENDANT EXPLORATION S.A - ECUADOR GOLD S.A. (2004 - 2006): In March 2004, Ascendant Exploration S.A. entered into a purchase option agreement (the "Option") with Sr. Figueroa on the Curiplaya Property. In March 2006, Ecuador Gold S.A., a subsidiary of AndeanGold Ltd., acquired the rights to the Option from Ascendant Exploration, which had completed some work at Curiplaya beyond the collection of 17 surface grab samples across the Bramaderos, Melonal, and Porotillo zones. The results of Ascendant Exploration's sampling are:
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Sample No. UTM Coordinates Gold Copper
X Y g/t %
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ACB-01 631207 9548181 0.134 0.014
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ACB-02 631385 9548066 0.623 0.123
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ACB-03 631408 9548045 0.556 0.145
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ACB-04 631487 9547951 0.503 0.124
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ACB-05 631650 9547851 0.563 0.113
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ACB-06 631523 9547892 0.713 0.183
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ACB-07 631443 9547884 0.269 0.112
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ACB-08 631341 9547891 0.049 0.007
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ACB-09 631262 9548016 0.401 0.100
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ACB-10 632685 9549290 0.383 0.086
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ACB-11 632746 9549242 0.515 0.113
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ACB-12 632641 9549237 0.522 0.094
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ACB-13 632435 9549295 0.478 0.169
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ACB-14 632435 9549295 0.441 0.145
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ACB-15 632416 9549435 0.320 0.117
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ACB-16 632425 9549396 0.465 0.130
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ACB-17 632442 9549306 0.498 0.111
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Ascendant grab sample numbers, location, and assay resultsRegional Geology
Ecuador consists of several oceanic, continental, and island-arc terranes accreted to the Guyana Shield during the Andean Orogeny that occurred between the Early Cretaceous and Early Tertiary. As a result, Ecuador is conventionally described as being divided into three distinct north-northeast trending geologic and physiographic regions: (1) the coastal plains (La Costa) to the west, (2) the central mountainous area- the Andes (La Sierra), and (3) the eastern lowlands (El Oriente).
- The "La Costa" region is underlain mainly by Tertiary sedimentary and volcanic rocks that overlie accreted oceanic terranes west of the Andes Mountains.
- The "La Sierra" region, the Andean mountain system, is underlain mainly by Mesozoic calc-alkaline volcanics and plutonic rocks and older metamorphic rocks overlain by Cenozoic to recent volcanic rocks. The Curiplaya Property lies within the La Sierra Region.
The lithologies of the La Sierra region extend southwards into Peru and Chile and northwards into Columbia and hosts, within these countries, a significant number of Mesozoic (Jurassic- and Cretaceous-aged) porphyry copper and porphyry related copper deposits similar to that which is believed to exist at Curiplaya. - The "El Oriente" region refers to the rain-forested Amazon basin and eastern foothills of the Andes and is underlain mainly by Mesozoic arc-related units overlain by Late Mesozoic to recent sedimentary and lesser volcanic rocks.
The Curiplaya area is underlain by the Cretaceous-aged calc-alkaline volcanics-porphyritic andesites, tuffs, and breccias, and intercalated sediments of the Pinon and Celica formations. These rocks are intruded by the Tangula Batholith (Cretaceous) as well as younger quartz-diorite porphyries emplaced along north-east bearing by sinistral faults. Gypsum/anhydrite veins are common and widespread across the surrounding district.
Both the Pinon and Celica formations are considered to be predominantly of marine origin and consist of a thick succession of massive, homogeneous, grayish-green andesitic lavas and tufts, with sporadic dacitic volcanics. The formations are considered to be remnants of a volcanic-arc developed along an active continental margin or aborted marginal basin. Both formations are affected by very low-grade (sub-greenschist facies) metamorphism.
Deposit Type
The Lithologies of the La Sierra region extend into Peru and Chile to the south and Colombia to the north. In these countries, there are a significant number of Mesozoic porphyry copper and porphyry-related copper deposits similar to that which is believed to exist at Curiplaya. Mineralization within the Curiplaya Project is characterized by quartz diorite (alkalic) porphyry related copper-gold mineralization. Skarn and epithermal styles of mineralization have been reported to exist (Pratt and Allen, 2001) but have not been observed on the property by subsequent workers.
Mineralization
Mineralization at the Curiplaya Project is manifested on surface as widespread red soils and extensive hydrothermal (potassic, sericitic and propylitic) alteration haloes covering an area some 15 km2 in extent. Ecuanor S.A. reported gold, copper and molybdenum anomalies associated with zones of quartz stockwork mineralization, which resulted in the delineation of distinct mineralized zones at Curiplaya (Pratt and Allen, 2001).
From south to north, Ecuanor S.A. defined the following stockwork anomalous zones (1) Porotillos (2) Melonal, (3)Bramaderos, (4) Epithermal/Shear Zone, and (5) Limon. There are also a number of un-named stockwork zones further to the south.
- Porotillo: Is a prominent red-coloured conical hill composed of fresh and propylitic hornblende-quartz-diorite with disseminated and veinlets magnetite. Medium-grained, granular-crystalline quartz veins occur in places (up to 5 centimetres wide). An area of medium-grained, granular, quartz silicification occupies the summit after diorite (at least 50 metres diameter). A shallow, 2 to 3 metre-thick, east dipping bed of beige- coloured, medium-grained, granular gypsum is being mined here on a small scale in a shallow open pit.
- Melonal: Is composed by silica-sericite-altered quartz diorite with up to 5% disseminated/veinlet iron oxides after pyrite. The summit is characterized by moderately to strongly silicified porphyry. On the northeast lower slope jarosite-gypsum stockwork veinlets cut argillic altered andesitic lapilli tuffs. Propylitic and sericite-altered quartz diorite floats are common.
- Bramaderos: The Bramaderos Zone is characterized by red-coloured soils overlying pervasive sericite-pyrite altered volcanic and intrusive lithologies. Argillic alteration occurs at the surface. Small, steep and narrow valleys expose yellow-white-coloured, quartz-sericite-pyrite (jarosite) --altered, medium-coarse, andesite lapilli tuffs. Hydrothermal breccias (clasts <10 cm diametre) occur in structures. Mineralization comprises fine- to medium-grained disseminated pyrite (<5%) and narrow (<2 cm wide) veins of gypsum (after anhydrite?) that strike N40oE and dip sub-vertically. Post-mineral dikes of propylitically altered (epidote-chlorite-magnetite) hornblende diorite porphyry occur and are characterized by chocolate brown-coloured soils. Malachite staining is visible in some propylitically altered quartz diorite samples.
The Bramaderos Stockwork Zone represents the largest and strongest soil gold anomaly at Curiplaya (800-1,600 ppb gold; 50x100 metre soil grid; Pratt and Allen, 2000) and has been the focus of much of the exploration activity carried out by Ecuanor S.A. and Ascendant Exploration on the property. Ascendant Exploration reported rock chip assay values of 320-522 ppb gold and 0.086-0.169% copper from this zone (Jemielita, 2005). Based on the Ecuanor S.A.'s drill data, Ascendant Exploration interpreted the geology at Bramaderos to assist their efforts in generating exploration targets.
- Epithermal/Shear Zone: Is reported to contain epithermal-style gold mineralization in a north-northeast-trending shear zone with up to 6 grams/tonne gold (Pratt and Allen, 2001).
- Limon: Limon is located in the north-eastern part of the Curiplaya Property. The Limon Zone is characterized by prominent red-coloured soils overlying zones of disseminated pyrite mineralization within sericite-altered quartz diorite porphyry and related intrusive breccias. Jarosite is common here. Pratt and Allen (2001) reported rock chip geochemistry values up to 1.78% copper.
- Southern Zones: Other anomalous zones of similar characteristics to the south also deserve further exploration
Curiplaya Property is composed of two mining concessions named Curiplaya (3,940 hectares) and Curiplaya-1 (24 hectares). In 2004, Ascendant Exploration S.A. ("AE") entered into a purchase option agreement (the "Option:) with the concessionaire, to acquire a 100% interest in the two Curiplaya concessions. In March 2006, Ecuador Gold S.A., a subsidiary of AndeanGold Ltd., acquired the rights to the Option from AE. The Option can be exercised by the payment of US$200,000 to the concessionaire, payable US$70,000 in cash and US$130,000 equivalent in common shares. The owner will retain a Net Smelter Royalty of 1.25% after the Option is exercised, which can be purchase at any time for US$100,000, payable 50% in cash and 50% in equivalent common shares. In September 2006, Ecuador Gold S.A. exercised the Option, and all requisite payments have been made to the concessionaire.
Planned Exploration
The 2007 exploration program for the Curiplaya Project was based principally on the recommendations contained in the NI 43-101 Report (the "Report") prepared by ACA Howe International for the purpose of AAU's listing on the TSX Venture Exchange in early January 2007. The Report recommended a planned expenditure of US$1.22 million consisting of:
- A detailed exploration program designed to further evaluate the economic potential of the Curiplaya Project's "core" Bramaderos, Porotillo, and Melonal zones.
The Report recommended a program including focused geological investigations: detailed multi-element soil and stream sediment geochemistry; a high-resolution magnetometer survey; and more sophisticated geophysical test surveys such as IP/resistivity and magnetics to map the structural and lithological setting of the "core" zones: a key item due to the many faults and structures that exist in the area; and trenching and drilling. A minimum of 2,500 meters of diamond drilling to test the strike and depth extents of the mineralization at Bramaderos, Melonal and Porotillo was recommended.
- The Report also recommended a general systematic exploration of the remainder of the Project consisting of basic geological, geochemical and geophysical reconnaissance work with detailed follow-up of the most prospective areas such as the relatively unexplored Limon Zone, Epithermal/Shear Zone, and the Southern Anomalous Zones.
The recommended program includes reconnaissance geological mapping and prospecting; and multi-element soil and stream sediment geochemistry; and limited exploration trenching.
Exploration activities and results during calendar year 2007 on the Curiplaya Project were, as follows:
- The Company initiated a diamond core drilling program ("the Program") in early June 2007 to test three broad areas (Bramaderos, Melonal and Porotillos) within a Core Zone of a copper-gold porphyry stockwork system. The drill collars were selected based on the results of geologic mapping and soil grid sampling along with trenching, induced polarization (IP) and ground magnetic surveys. The Program was concluded in the third week of October 2007. 22 drill holes, totalling approximately 7,200 metres, were completed. Assay results for the first 11 drill holes were published in the Company's September 18, 2007 News Release. Originally up to 5,000 metres of drilling were planned, which was subsequently increased to approximately 7,200 metres, principally because certain holes were drilled to a deeper depth than originally planned.
The results of the first 15 drill holes of the drilling program confirmed a large area of strong, porphyry-style hydrothermal alteration carrying widespread anomalous copper, gold and silver values. Drill holes 16-22 were principally planned to investigate the interpreted sulfidic halo surrounding the intrusive cores. The inner part of these pyrite-rich phyllic zones typically carry the economic copper values associated with a copper-gold porphyry style system.
Highlights from the Program included:
DRILL HOLE FROM
mTO
mINTERVAL
mAU
g/tAG
g/tCU
%EGCU-003 260 294 34 1.20 2.94 0.04 Including 260 276 16 2.05 3.95 0.03 which includes 270 276 6 3.38 3.63 0.03 EGCU-005 170 180 10 0.64 1.32 0.14 Including 170 172 2 0.96 1.70 0.18 Including 176 180 4 0.99 1.85 0.20 EGCU-005 264 294 30 0.46 1.15 0.11 Including 274 282 8 0.86 1.58 0.16 EGCU-006 0 36 36 0.27 0.57 0.18 Including 22 30 8 0.18 0.68 0.43 which includes 24 26 2 0.01 1.40 1.23 EGCU-007 16 24 8 0.53 0.30 0.03 Including 16 18 2 1.28 0.60 0.04 EGCU-008 78 84 6 0.66 1.77 0.13 Including 80 84 4 0.80 2.00 0.15 which includes 82 84 2 0.99 1.70 0.14 EGCU-009 142 153 11 0.42 2.50 0.14 Including 148 150 2 0.72 6.90 0.24 The above tables reflect drilled intervals and all assays are uncut. Drill holes EGCU-001, 002, 004, and 010 through 022 did not report any significant assay values.
In general, the assay results from the Core Zone drill program returned anomalous precious and base metals values, but did not identify any target that would warrant a follow up drilling program. While there are several untested areas within the Core Zone target, AndeanGold changed the focus of its exploration efforts to testing other major targets within the Curiplaya concession, including the "West Zone", an epithermal breccia-hosted gold target with reported outcrop values of up to 6.0 g/t Au, and the "Limon Zone", a copper/gold porphyry target with reported rock chip values up to 1.78% Cu.
- In the Company's February 28, 2008 News Release, AndeanGold announced the discovery of epithermal gold mineralization at the West Zone. A newly defined soil gold anomaly, covering an area of approximately 150 x 200 metres, partially overlies a body of gold-bearing intrusive/hydrothermal breccia some 150 meters long and 125 meters wide. In addition to the main gold anomaly, several other gold anomalous areas were detected within a soil grid that covers an area of 500 x 600 metres. A total of 439 soil samples were taken along 21 grid lines, at 25-metre spacings.
The soil samples were assayed utilizing the Mobile Metal Ion ("MMI") methodology, and the precious metal values for the main gold anomaly averaged 0.49 g/t Au and 0.40 g/t Ag. Three high gold soil values (3.50 g/t, 2.75 g/t and 2.75 g/t) suggest a more highly mineralized area in the northeast quadrant of the anomaly, which is underlain by breccia. Two trenches were completed in this area to test for bed rock mineralization and continuous channel samples, taken at 2.0 metre intervals, returned the following average assay results: Trench #1 -- 22.0 metres grading 4.74 g/t Au and 1.31 g/t Ag and Trench #2 -- 41.7 metres grading 3.70 g/t Au and 1.71 g/t Ag, including a high-grade sample assaying 55.1 g/t Au and 0.80 g/t Ag. Excluding the high-grade sample, the average assays for Trench #2 were 39.7 metres @1.10 g/t Au and 1.76 g/t Ag. The detailed trench results were as follows:
TRENCH 1 TRENCH 2 Interval Gold Silver Interval Gold Silver Metres g/t g/t Metres g/t g/t 2.0 3.32 1.40 2.0 0.60 2.50 2.0 5.05 1.60 2.0 0.59 1.20 2.0 5.45 1.00 2.0 0.28 0.80 2.0 7.20 1.00 2.0 0.53 0.70 2.0 9.05 0.60 2.0 0.78 0.60 2.0 2.27 1.50 2.0 0.96 0.50 2.0 5.45 2.50 2.0 0.54 0.80 2.0 6.75 1.10 2.0 0.75 2.00 2.0 4.77 2.00 2.0 1.47 6.00 2.0 1.90 0.90 2.0 1.41 3.40 2.0 0.90 0.80 2.0 1.25 1.80 2.0 1.46 1.40 22.0 4.74 1.31 2.0 1.64 2.50 2.0 2.90 2.90 1.7 0.15 1.20 2.0 0.43 1.60 2.0 0.07 0.80 2.0 0.12 1.00 2.0 55.10 0.80 2.0 4.13 1.30 2.0 1.92 2.10 41.7 3.70 1.71 The regional geology comprises Cretaceous volcanics of the Celica Formation intruded by hornblende and quartz diorite porphyries. The West Zone is characterized by abundant faulting and associated fracturing along NE-SW, NW-SE and W-E trends, and intersections of these structures appear to have controlled the emplacement of the pipe-like body of intrusive/hydrothermal breccia. The overall prospect area shows a central zone of argillic and advanced argillic alteration surrounded by weak to moderate propylitic alteration. Alteration more closely related to gold mineralization includes pyrite, jarosite and hematite, and the breccia exhibits moderate acid leaching features. The West Zone is tentatively interpreted as a breccia-hosted, high sulphidation epithermal gold system.
Subject to the final resolution of Ecuador's proposed new Mining Law, the Company is planning to follow up this initial program with additional trenching over both the main gold anomaly and some of the other gold anomalous areas within the grid. In addition, the grid may be expanded in certain areas. If warranted, this work will be followed by geophysical surveys prior to a future drilling program.
- AndeanGold also carried out a soil and bed rock sampling program on the Limon Zone, which is a potential copper/gold porphyry target with reported rock chip values up to 1.78% Cu. A 2,200 x 3,500 metre grid was completed, and soil sampling took place along 12 grid lines at 100-metre spacings. The results of the soil sampling program were encouraging, but planned follow up trenching has been suspended, pending a final resolution of Ecuador's proposed new Mining Law.
- Quality Assurance / Quality Control: AndeanGold has put in place a detailed QA/QC program consistent with Canadian Securities Administrators National Instrument 43-101 and using best industry practices. The program includes chain of custody of samples; standards and blanks submitted to the independent Inspectorate Lab in Lima, Peru with each batch of samples; and a check assay program on a proportion of sample pulps with a second independent laboratory. The results of the QA/QC program to date have been satisfactory.
Adjacent Properties
Several mining/exploration companies have substantial exploration/development projects in southern Ecuador. Projects that are within 50 kilometres of the Curiplaya Project include Mariana Resources Ltd's Loma Alta Prospect and Dynasty Metals and Mining Inc.'s "Copper-Gold Belt" Projects: Copper Ridge, Dynasty Gold Field, Copper Dome, Copper Duke, and Copper Field projects. The Curiplaya Project lies within the Dynasty "Copper-Gold Belt".
Maps & Figures
- The Company initiated a diamond core drilling program ("the Program") in early June 2007 to test three broad areas (Bramaderos, Melonal and Porotillos) within a Core Zone of a copper-gold porphyry stockwork system. The drill collars were selected based on the results of geologic mapping and soil grid sampling along with trenching, induced polarization (IP) and ground magnetic surveys. The Program was concluded in the third week of October 2007. 22 drill holes, totalling approximately 7,200 metres, were completed. Assay results for the first 11 drill holes were published in the Company's September 18, 2007 News Release. Originally up to 5,000 metres of drilling were planned, which was subsequently increased to approximately 7,200 metres, principally because certain holes were drilled to a deeper depth than originally planned.
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