There are surface and drilling reports of two different styles of mineralization on the Huajoto Property: high-sulfidation epithermal gold mineralization (La Virgen target) that may represent a mineralized lithocap overlying a porphyry-related mineralization center and zinc-skarn and replacement (Cathy-Pablo target) in the peripheral volcanic and sedimentary sequence.
Alturas initiated an intensive surface exploration program in August 2007 followed up by a first phase drilling campaign of these targets comprising 2,501 meters that was executed in the third quarter of 2008.
Best results reported were from drill hole JOT-08-01, which intersected a near surface 106.5 meter thick polymetallic mineralized package between 11.5 and 118.0 meters averaged 1.64% zinc and 0.09% copper. This package includes an upper section of 48.5 meters assaying 2.24% zinc and 0.13% copper from 11.5 to 60.0 meters and a lower section of 17.0 meters assaying 3.26% zinc and 0.18% copper from 101.0 to 118.0 meters. Within these two sections, higher grade intervals of 5.80 meters assaying 3.48% zinc and 0.18% copper, and 4.40 meters assaying 7.28% zinc and 0.37% copper, were encountered. Alturas has recognized that strongly anomalous rare earth element (REE) values exist within the alkaline volcanic rocks hosting the zinc mineralization.
For maps and an extended summary of exploration results, refer to the Company's website www.alturasminerals.com/project-pdfs.html.
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 comprise 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 of 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 of 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).
About Alturas's QA/QC Procedures
Strict sample integrity is maintained throughout the geochemical sampling program at Huajoto. The bagged samples are transported by Alturas staff to the city of Huancayo in central Peru where they are shipped directly to Australian Laboratory Services (ALS) in Lima. At the ALS's Lima facility, all samples are dried then crushed to 70% -10 mesh (less than 2mm) size; then riffle split to obtain an approximately 250 gram subsample. The subsample is further crushed to 85% -200 mesh (less than 75 microns) to obtain a 100 gram split ready for analysis. All samples are routinely assayed for gold by conventional fire-assay methods at ALS Lima facility and for 35 additional elements (including silver, copper, lead, zinc) using aqua regia acid digestion followed by Inductively Coupled Plasma-Atomic Emission Spectroscopy ("ICP-AES") analysis. Samples reporting greater than 1% zinc are routinely assayed using a 4 acid decomposition/volumetric technique and analyzed by Atomic Absorption Spectroscopy. Rare Earth Elements assays are conducted in the Canadian facilities of ALS and form part of a 38 element suite analyzed using the Lithium Metaborate Fusion decomposition technique followed by Inductively Coupled Plasma-Mass Spectroscopy ("ICP-MS") analysis. Alturas follows a rigorous QC/QA program, including routine insertion of standards and blanks as well as assay of duplicate samples at other independent laboratories. Certified standards of known gold grade are inserted "blind" every 20th sample as an independent check on assay accuracy.
Alturas follows a rigorous QC/QA program, including routine insertion of standards and blanks as well as assay of duplicate samples at other independent laboratories. Certified standards, of known gold grade are inserted "blind" every 20th sample as an independent check on assay accuracy.
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.
For further information, please visit the Company's website at www.alturasminerals.com.
Should you wish to receive Company news via email, please email firstname.lastname@example.org 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.
Alturas Minerals Corp.
+ 51-1-372-3739 (Lima, Peru)
+ 1-416-363-4900 (Toronto, Canada)
Alturas Minerals Corp.
67 Yonge Street, Suite 1102,
Toronto, ON Canada
Alturas Minerals Corp.
Av. Del Pinar 180, Suite 804,
Chacarilla del Estanque,
Lima 33, Peru
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