Promesa finds possible copper porphyry system in Peru

Published at May 1, 2014, in Technology

Promesa Limited (ASX: PRA) says it’s found strong evidence of a potentially very large copper porphyry system at its at Alumbre project in northern Peru.

Drill cores show potential for huge porphyry system

PRA has mapped out a large geophysical anomaly at its copper-gold-molybdenum Alumbre project, 70km southeast of the coastal city of Trujillo, and a 2,200m diamond core drilling programme is underway to map and measure it.

Four drill holes have been completed and analysis of a drill core sample from hole ALDD14004 shows an intersection with a large Potassic zone of mineralisation.

PRA says it’s found fine grained copper and molybdenum mineralisation represented by Chalcopyrite, Bornite and Molybdenite – all of which points strongly to the presence of a large porphyry system – huge deposits of copper, gold and molybdenum.

The drill cores from each of the first four holes will be sampled and assayed once logging is complete. PRA says “the geological information from this drill hole will greatly assist in further defining the geological model and target future drill holes.”

Drilling is continuing for a fifth hole and PRA says it will release its results as soon as they come to hand.

Stage two drilling programme set to start

PRA wants to drill up to 5,200m of its Alumbre project over three stages. With stage one showing strong evidence for a large porphyry system preparation has begun for the next round of exploration.

Once all three stages of drilling have been completed, PRA says it hopes to have a raft of copper-gold-molybdenum porphyries mapped out so it can develop plans to mine them.

PRA’s activities

PRA has two copper-gold-molybdenum projects in northern Peru, Alumbre and Quinual, where it has completed a number of geological surveys to identify porphyry targets.

Copper, gold and molybdenum (which is used to strengthen steel) are the most common elements PRA is hunting at its prospects.

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