At Utupara, previous work by Milpo and more recently by Alturas has established the presence of a large disseminated copper-gold porphyry/breccia system, with sulfide mineralization hosted by intrusive breccias and associated with the potassic, phyllic and transitional propyllitic phases of the alteration system. Alturas's completed 4.933 meters of diamond drilling, totalling 21 drill holes, between July 2007 and February 2008. Of this, a total of 10 holes for 2,999 meters were completed within the Cachorro Corridor over some 1.0 kilometers of strike length. All ten drill holes intersected disseminated, low grade, copper-gold mineralization over wide intervals extending up to 410 meters, with many reporting tens of meter intervals of higher copper and gold grades (greater than 0.25 % copper and 0.10 grams/tonne gold) within the intrusive breccias.
At Chapi Chapi, Alturas conducted 104.7 line-km ground magnetic and 70.2 line-km induced polarization geophysical surveys during 2011. Geophysical modeling, complemented by surface geochemical copper-gold anomalies and extensive areas of mapped skarn mineralization, hydrothermally altered sandstone horizons and strong alteration within monzonitic intrusive rocks, together define a 4.5 kilometer by 2.5 kilometer zone of skarn-, replacement- and porphyry-style mineralization.
An Initial dioritic, intrusive phase in the Chapi Chapi project area produced an intense thermal metamorphism/metasomatism at the contact with the sedimentary sequence, generating garnet-pyroxene skarns, marble, hornfels and quartzites. This phase was followed by subsequent phases of dioritic porphyries and monzodioritic intrusives. A later phase of monzonitic intrusive was emplaced along subvertical structures and as sills following stratigraphically weaker zones, inducing an extensive hydrothermal alteration in several successive phases.
Alturas has completed a first drilling program at Chapi Chapi, comprising 16 diamond holes for 5,498 meters drilled over the central part of the 4.5 x 2.5 kilometers mineralized area. The strong metal values reported on a press release dated May 10, 2012 have confirmed a large copper-gold-molybdenum system and highlight the need of a follow-up drilling program to define possible extensions of the intersected mineralized bodies and to explore numerous additional untested drill targets.
For maps and an extended summary of previous exploration results, refer to the Company's website www.alturasminerals.com/project-pdfs.html.
As required by the National Instrument 43-101, Alturas's designated Qualified Person for the supervision of exploration of the projects is Dr. Paul Pearson, F. AUSIMM, who has reviewed the technical information reported in this News Release.
About Alturas Minerals Corp
Alturas is a Canadian corporation, and is the indirect parent of the Peruvian company, Alturas Minerals S.A. ("Alturas Peru") and of the Chilean company, Alturas Chile Limitada ("Alturas Chile"). Alturas Peru has been exploring various mineral projects in Peru since January 2004. Alturas Chile initiated exploration activities during the second quarter of fiscal 2010. Alturas' exploration strategy is focused on the discovery of large copper-gold porphyry/skarn deposits and epithermal gold mineralized deposits.
The principal assets of Alturas are one project in drilling stage Chapi Chapi-Utupara, and five drill-ready mineral exploration projects located in Peru and Chile, including the Sombrero, Huajoto, Ccaccapaqui and Pampa Colorada projects in Peru, and La Corina in Chile. Alturas entered into a transfer agreement on its Pampa Colorada property with Origen Group S.A.C. but maintains royalty rights and a claw back clause on 60-100% of the mining rights under certain conditions (see press release dated January 5th, 2012. Alturas also executed an option agreement on its Ccaccapaqui project with Compania de Minas Buenaventura S.A.A.(see press release dated January 31st, 2012). Alturas is also advancing its two recently acquired gold-copper projects Marilin and Quispe in the Maricunga belt of northern Chile. In addition, Alturas has interests in three other less-advanced exploration projects in Peru (Callejones, San Antonio and La Divina).
For further information, please visit the Company's website at www.alturasminerals.com.
Alturas Minerals Corp.
67 Yonge Street, Suite 1102, Toronto, ON Canada M5E 1J8andAv. Del Pinar 180, Suite 804, Chacarilla del Estanque, Lima 33, Peru
Should you wish to receive Company news via email, please email [email protected] and specify "Alturas News" in the subject line.
Cautionary Language and Forward-Looking Statements
This press release may contain "forward-looking statements", which are subject to various risks and uncertainties that could cause actual results and future events to differ materially from those expressed or implied by such statements. Investors are cautioned that such statements are not guarantees of future performance and results. Risks and uncertainties about the Company's business are more fully discussed in the Company's disclosure documents filed from time to time with the Canadian securities authorities.
The TSX Venture Exchange and the Bolsa de Valores de Lima do not accept responsibility for the adequacy or accuracy of this release.
Contacts:
Alturas Minerals Corp.
+ 51-1-372-3739 (Lima, Peru)
+ 1-416-363-4900 (Toronto, Canada)
[email protected]
www.alturasminerals.com
