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Management believe that the Golondrina project presents an outstanding exploration opportunity
La Golondrina is located within the La Llanada gold mining district of Nariño Province in southern Colombia. La Llanada is an under explored region of high-grade Intrusion Related Gold deposits (IRGS) and is the source region to one of Colombia’s richest alluvial goldfields the Barbacoa district.
Global examples of IRGS deposits include:
La Golondrina is a currently small-scale underground gold mining operation comprising multiple levels of horizontal underground mine development which have accessed surface exposures of dominantly shallow-dipping high-grade quartz-veins and vein zones over a known vertical extent of 400 meters and over an aerial extent of approximately 600 by 800 meters . Mining at La Golondrina commenced during the early 1980’s and has been focused only on those quartz veins that are accessible and exposed. Much of the La Golondrina license area is concealed under recent volcanic ash, colluvium and soil. In 2011 AngloGold Ashanti conducted geological mapping, rock-chip sampling, IP-geophysics and ground magnetics over the project area. Mineralization at La Golondrina is part of an Eocene age intrusion-related gold system hosted in a Cretaceous age metasomatized (hornfels) marine sedimentary sequence.
There has been no drilling conducted at La Golondrina. Management of the Company believes that there is an opportunity to define a significant high-grade plus million ounce resource at the project and to rationalize, modernize and expand the current operations.
Ongoing saw-cut channel sampling reveals underground quartz veins average 41.5g/t gold over 0.3m with a best result of 106.5 g/t gold over 0.7m. Stockwork in hornfels adjacent to intrusive rocks has returned up to 41.8g/t gold over 1 m.
In 2011 AngloGold Ashanti conducted an IP geophysical survey across the region which has outlined some interesting anomalies both within the tonalite and within the hornfels sequence.
These anomalies represent interesting bulk tonnage style targets and have yet to be drill-tested.
Little is known about the vertical frequency or lateral continuity of gold mineralized quartz veining and vein zones at La Golondrina due to a combination of poor exposure (overlying recent volcanic ash, colluvium and soil) and sections of very steep topography. Only drilling will reveal the detail.
There appear to be three main styles of gold mineralization at La Golondrina; Discrete veins (generally hosted in the intrusive tonalite), vein-zones in the tonalite and veinlet stockwork and stratabound zones in the adjacent hornfels. The latter is very interesting in terms of a potential bulk tonnage target. There are plenty of recent photographs on our Facebook page.
Gold at La Golondrina is coarse-grained with assay results to-date revealing that some 94% of gold reports to the plus 150# fraction.
Underground development only recently exposed the tonalite hornfels contact at La Golondrina. Hornfels hosted mineralization is as yet of unknown thickness or extent but our recent channel samples reveal that where it is intersected by veins and vein zones it can return up to 41.8g/t gold over a 1m long channel. This is new to our local miners and presents us with an interesting bulk tonnage target and drill objective.