Wednesday, 26 December 2012 11:21
Wild Acre Metals has signed a drilling contract with AK Drilling International S.A. for drilling at the Chaparra Project IOCG Project, Southern Peru.
AK Drilling is one of Peru’s largest drilling companies specialising in reverse circulation (RC) and diamond drilling throughout Latin America.
Wild Acre plans to test a number of targets with deep reverse circulation (RC) drilling, totalling around 1200m. It is anticipated that this drilling will commence in late January/early February 2013 once the Peruvian statutory drill permits are received.
Geophysical surveys completed at Chaparra including ground magnetics and gravity have identified a number of targets that require drill testing. A recent gravity survey has complemented the previous ground magnetic survey and a number of iron oxide copper gold (IOCG) type targets have been defined at the Chaparra Project.
The Chaparra Project is around 560km south east of Lima within the Peruvian coastal IOCG belt.
The recently completed gravity survey has delineated distinct anomalies, generally co-incident with the earlier defined magnetic anomalies. Amplitudes of up 10 mgals were returned from the gravity survey. Applying the Bouguer reduction (removal of terrain effects), the residual Bouguer gravity results show a large gravity anomaly underlying the early defined magnetic anomalies (up to 500nT).
The larger western gravity anomaly covers an area of 4.8km by 2.8km. A break in the gravity high trend divides the anomaly into two distinct regions.
This NE striking corridor of lower response is also recognised from the magnetic survey. This area is considered to represent a possible conceptual porphyry style target based on the general circular outline displaying complex variation of magnetic intensities that appears to be bounded by NE and NW structures. Both surveys (magnetics and gravity) were regional in design so detailed features will not be resolved well.
The top to the anomalous magnetic source response has been modelled to around 200m whilst the underlying broader anomalous gravity response is modelled at depths from 400m below the surface.
Priority targets that will be tested in this initial drilling program include;
-Northern boundary of the western anomaly (abrupt change)
-Magnetic/gravity highs (Western and South Eastern)
-Central low zone.
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