Expansion Of The Coritiri Gold Zone And Start Of Drill Permitting At Gaban Gold Project
VANCOUVER - Winshear Gold Corp. has received gold assay results from an additional 414 channel samples taken the last 3 months of 2020 at the Gaban Gold Project in south-eastern Peru. Gaban is located in the Puno Orogenic Gold Belt (POGB) at the juncture of the San Gaban and Inambari Rivers, which then drain into the Madre de Dios basin where extensive alluvial gold mining covers an 1,800 square kilometer area. Winshear is investigating Gaban as a potential hard-rock source for the alluvial gold being mined at Madre de Dios and on the Gaban project itself.
Highlights: The new sampling has increased the Coritiri anomaly to 2000m x 900m; The anomaly remains open along strike to the east and southeast; 17 channel samples returned between 0.5g/t – 11.2g/t Au; Permitting is underway for up to 40 drill sites within the Coritiri target with the intent of drilling in the upcoming field season; and The planned drill program will represent the first-ever drilling of this target.
Earlier work identified a prospective northwest-southeast aeromagnetic anomaly coincident with historic gold adits above a stream sediment gold anomaly now known as Winshear’s Coritiri Zone. Follow up rock and channel sampling by Winshear has confirmed Coritiri as a bedrock source of the alluvial gold in the Piquitiri stream and Yanamayo river.
Mark Sander, President, said, “Three successive mapping and bedrock sampling campaigns totaling 705 samples, beginning in the fourth quarter 2019 and extending to the fourth quarter 2020, have proven that the Gaban project area is a bedrock source of alluvial gold in local drainages and perhaps for the much larger Madre de Dios goldfield downstream to the north. The third tranche of samples (414) taken in late 2020 and first reported in this press release has served to once again significantly increase the size of the Coritiri bedrock gold anomaly to 2000 meters by 900 meters. The anomaly is still open along strike to the east-southeast. Winshear intends to drill the first holes ever drilled in the Coritiri anomaly in the 2021 field season. The required field work to support the drill permit application by specialists in archaeology, biology, and sociology is complete, and we plan to take baseline air, noise, soil, and water samples as soon as the weather permits. Once we have the baseline measurements, the last major step is to hold a required workshop on our proposed drill program with the San Gaban community.”
Coritiri was initially identified from interpretation of airborne magnetic data, flown in 2018, which inferred the presence of an 8 km x 1 km NW-SE linear target adjacent to a 6.5 km x 3.0 km northwest-southeast trending magnetic high. The geophysical anomaly is coincident with a 5 km long series of gold-in-stream sediment anomalies located within the Yanamayo River catchment. The underlying geology in the area comprises sheared and deformed siltstones and slates with foliation typically striking northwest-southeast and dipping moderately to the southwest.
There are numerous artisanal workings in the Yanamayo catchment that develop placer gold deposits nuggets where Winshear field crews have observed local alluvial miners extracting nuggets weighing up to 54 grammes. There are several prospect pits and adits developed on outcropping quartz veins, some exposing visible gold. Locations and grade ranges of all bedrock samples in the Coritiri area are plotted and show the dimensions of the bedrock anomaly.
Winshear’s proposed Gaban drill program will be the first ever carried out on the property. The Company looks forward to revealing the depth dimension of the surface bedrock gold anomaly at Coritiri that provided a source of local alluvial gold deposits and perhaps of the large Madre de Dios alluvial gold fields downstream.