The 100% owned, 470-hectare Indio Inka Property is located roughly 224 kilometres by mostly asphalted road from the Aguila Norte processing plant. Peruvian Metals’ subsidiary Hatum Minas SAC purchased 100% of the property with a small cash payment with no underlying royalties. The property is located approximately 5 kilometres northeast of Eloro Resources’ Victoria Gold Project in Northern Ancash. The property’s principal showing consists of high-grade gold hosted in a near vertical, silicified breccia structure that roughly parallels bedding in the host lutite.
The mineralized structure reaches 1 to 2 metres wide and has been subject to artisanal development on two levels. Sampling within the old working, mostly from oxide/sulphide mix material, has returned results ranging from 1.48 to 13 g Au/T on 12 samples with sample lengths ranging from 0.4 to 1 metre. Initial metallurgical samples have shown 89% Au recovery (64% passing -200 mesh) from an Au-Ag-Cu concentrate flotation test in sulphide material and 92% Au recovery (90% passing -200 mesh) in cyanidation bottle roll tests in oxide material. The Company plans to extend the current mineralization by exploration drifting along the mineralized structures. The Company has been informed by the local community that there are presently artisanal miners extracting oxide gold material.
Artisanal Miners – 60 to 80 tonnes per month ~ 9 g/t Au