San Bartolomé Project
AndeanGold's wholly owned San Bartolomé Project, comprised of the "Silver-1" concession (3,108 hectares) corresponds to a low-sulphidation high-grade epithermal Ag, Pb, Zn vein system. The project is located within the Collay-Shingata mineralized belt that includes several projects, including Channel Resources' El Mozo Project and AndeanGold's Asaray Project. The San Bartolomé project is located about 20 kilometers southeast of Cuenca, Ecuador's third largest city, and is accessible by a paved road. Infrastructure in the project area is excellent.
Ecuador's Ministry of Mines and Petroleum approved AndeanGold's Environmental Impact Study for the Silver 1 concession in May 2007.
Mineralization at the San Bartolomé Project was initially discovered in a polymetallic vein system (Ag-Pb-Zn) as a result of a geochemical survey developed by a United Nations Program in 1966 (reported in UNDP 1972). The 1966 program was followed up between 1969 and 1972 with geophysical surveys, soil geochemistry, trenching and drilling (eight diamond drill holes) that identified mineralization in two areas: the Shunaste Sector located immediately to the north of the town of San Bartolomé and the Ocashuaico Sector to the south-east. The United Nations Rotary Foundation developed more detailed investigations between 1976 and 1978 that included trenching and drilling on both sectors, and the digging of exploration pits in Ocashuaico. Based on these programs, the United Nations reported a reserve of:
94,192 tonnes with grades of 22.93 oz/t Ag, 0.68% Pb 1.99% Zn
(Not NI 43-101 compliant)
(Not NI 43-101 compliant)
No additional works were developed until the formation of a joint company between Nosshoi Iwai (Japan) and Ag-Armeno Mines & Minerals Inc. (Canada), which carried on exploration and small-scale mining activities at San Bartolomé between 1989 and 1994. Mining took place on two vein structures from 3 main levels accessed by adits, employing standard underground mining methods. The mineralization appears to be open both along strike and down dip from the old underground workings. Approximately 3,570 metres of underground tunneling were developed. In 1993, the mine operator reported an overall mining reserve of:
205,000 tonnes with grades of ~20 oz/t Ag, 1.15% Pb and 2.9% Zn
(Not NI 43-101 compliant)
(Not NI 43-101 compliant)
Due to the sulphide nature of the ore at San Bartolomé, the mine process plant mainly consisted of a crushing and flotation circuit, with the concentrates shipped to a third party refiner. The processing rate was 100 TPD, and approximately 85,000 tonnes of ore were reportedly processed between 1991 and 1994, with upwards of one million ounces of total silver production, along with lead and zinc credits. San Bartolomé is Ecuador's largest historic silver producer.
AndeanGold initiated a preliminary exploration program on the Silver 1 concession at the San Bartolomé Project in October 2007 that consisted of preliminary mapping of the concession and sampling of available outcrops, waste dumps (stockpiled ore) and tailings from historic mining activities.
The selective grab sampling of mineralized vein material from the waste dumps (stockpiled ore) supported the Project's reported historic high-grades, with the assays returning 40.9 to 71.7 oz/t Ag; 2.87 to 5.15 g/t Au, 0.84 to 4.36% Pb and 2.66 to 10.84% Zn. A table detailing all of the results can be viewed below.
Maps & Figures
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