Guayabales Project
Since going public in May 2021, aggressive grassroots surface exploration followed by diamond drilling has resulted in the Company making four significant mineral discoveries with the most significant being a high-grade porphyry system at the Apollo target.
Caldas, Colombia
Copper, Gold, Silver and Tungsten
Option to own 100%
Abundant labour with hydro power and maintained roads traversing the property
| Target | Ranking | Status |
|---|---|---|
| Apollo | 1 | Phase II drill program with multiple rigs underway |
| Olympus | 2 | Phase III drilling in 2024 |
| Trap | 3 | Phase II drilling in November 2023 |
| Plutus | 4 | Phase II drilling in Q1 2024 |
| ME | 5 | Phase I drilling completed October 2023 |
| Victory | TBD | Advanced surface work progressing |
The Guayabales Project is located in the prolific "Middle Cauca" mineral belt in Colombia. Situated along the west side of the Panamerican highway, the Company's exploration license is located directly contiguous to the Marmato mine, which boasts current P&P reserves of 3.2 million ounces of gold at 3.2 g/t Au and a total resource estimate of 8.8 million ounces of gold. In fact, 10 fully permitted mines are currently operating within three kilometres of Guayabales, including one mine within the project boundaries for which the Company has an option to acquire a 100% interest.
Through detailed exploration work, the Company has defined a “porphyry cluster” consisting of a series of porphyry and related targets within an area measuring 4 kilometres x 5 kilometres.
Drilling Underway (Multiple Rigs)
Initial Discovery Announced: June 22, 2022
PLAN VIEW OF THE APOLLO PORPHYRY SYSTEM
The Apollo target is anchored by the "Apollo Porphyry" discovery, which is the Company's most important discovery to date. Although the discovery hole into the porphyry system was only announced in June 2022, the system has already been drill-tested over a large area, which remains open in all directions for expansion. The Apollo porphyry is best characterized as a high-grade and bulk tonnage copper-silver-gold system, which owes its remarkable mineral endowment to an older phase of copper-silver-gold porphyry mineralization being overprinted by late-stage, precious metal rich carbonate base metal veins systems (low and intermediate sulphidation) within a magmatic hydrothermal intermineral breccia body. The breccia body is surrounded by a halo of copper-silver-gold porphyry hosted mineralization with diminishing grades as distance increases away from the breccia contact.
Highlight results include:
Phase III drilling in 2024
Initial Discovery Announced: March 15, 2022
PLAN VIEW OF THE OLYMPUS TARGET
Olympus is an important grassroots discovery made by the Company in 2022. The target consists of a late-stage porphyry-related vein system, which overprints a porphyry intrusion. Due to the porosity of the porphyry host rock and the abundance of late-stage porphyry related CBM veins, the target is a bulk tonnage medium grade gold and silver system with minor base metal credits.
A phase 1 drill program was completed in 2022 with significant results listed below. A phase 2 program was recently initiated, which includes step-out holes up to 500 metres along strike to the southwest of the discovery holes from the phase 1 program.
Highlight results include:
| Hole # | From (m) | To (m) | Intercept (m) | Au (g/t) | Ag (g/t) | Cu% | Zn % | Pb% | Mo % | AuEq (g/t)* |
|---|---|---|---|---|---|---|---|---|---|---|
| OLCC-3 | 61.70 | 363.60 | 301.90 | 0.89 | 12 | 0.03 | 0.03 | 0.03 | 0.002 | 1.11 |
| OLCC-3 | 486.70 | 520.90 | 34.20 | 0.74 | 8 | 0.03 | 0.04 | 0.03 | 0.001 | 0.90 |
| OLCC-4 | 73.00 | 289.70 | 216.70 | 0.79 | 14 | 0.04 | 0.02 | 0.03 | 0.004 | 1.08 |
| OLCC-4 | 480.30 | 590.40 | 110.10 | 0.69 | 7 | 0.02 | 0.03 | 0.03 | 0.001 | 0.82 |
| OLCU-2 | 172.60 | 227.85 | 55.25 | 1.75 | 11 | 0.02 | 0.003 | 1.91 |
Initial Discovery Announced: October 18, 2021
PLAN VIEW OF THE DONUT TARGET
Donut hosts a hydrothermal breccia with porphyry potential to the east. The Company believes the Donut target could represent a satellite mine within the Guayables project with potential to discover a large porphyry system nearby.
Highlights include:
| Hole # | From (m) | To (m) | Intercept (m) | Au (g/t) | Ag (g/t) | Cu% | Zn % | Pb% | Mo % | AuEq (g/t)* |
|---|---|---|---|---|---|---|---|---|---|---|
| DOC-2 | 0 | 104.00 | 104.00 | 1.21 | 12 | 0.03 | 0.04 | 0.03 | 0.002 | 1.42 |
| Incl | 16.00 | 34.00 | 18.00 | 4.78 | 10 | 0.05 | 0.03 | 0.01 | 0.001 | 4.81 |
| DOC-3 | 0 | 163.00 | 163.00 | 1.17 | 10 | 0.02 | 0.03 | 0.01 | 0.002 | 1.32 |
| Incl | 155.60 | 157.10 | 1.50 | 83.23 | 37 | 0.04 | 0.06 | 0.04 | 0.001 | 79.73 |
| DOC-8 | 18.00 | 125.65 | 107.65 | 0.78 | 21 | 0.02 | 0.04 | 0.01 | 0.001 | 1.13 |
| Incl | 27.90 | 30.40 | 2.50 | 15.62 | 6 | 0.03 | 0.07 | 0.03 | 0.001 | 14.99 |
MAP OF THE TRAP & VICTORY TARGETS
Trap Target
Phase II drilling in November 2023
Initial Discovery Announced: September 27, 2022
The Trap target is a north-northwest trending structurally controlled corridor with evidence of overprinting porphyry veins and late-stage carbonate base metal (“CBM”) veins. Also, geological mapping and sampling reconnaissance drilling at Trap resulted in a new discovery that intersected highly altered porphyry rocks with multiple sheeted and stockwork veinlets. Recent geological mapping and sampling has materially extended the strike length of the Trap target to 1.75 kilometres, and it remains open in both directions along strike for further expansion.
| Hole # | From (m) | To (m) | Intercept (m) | Au (g/t) | Ag (g/t) | Cu% | Zn % | Pb% | Mo % | AuEq (g/t)* |
|---|---|---|---|---|---|---|---|---|---|---|
| TRC_001 | 233.80 | 336.00 | 102.20 | 1.26 | 12 | 0.09 | 0.08 | 0.01 | 0.003 | 1.53 |
| Incl | 259.10 | 269.00 | 9.90 | 3.00 | 25 | 0.25 | 0.03 | 0.00 | 0.007 | 3.65 |
| 294.50 | 303.70 | 9.20 | 1.82 | 31 | 0.07 | 0.27 | 0.08 | 0.003 | 2.27 | |
| VICE_001 | 212.60 | 227.30 | 14.70 | 1.14 | 26 | 0.01 | 0.07 | 0.06 | 0.001 | 1.44 |
| Incl | 213.20 | 214.80 | 1.60 | 2.33 | 47 | 0.01 | 0.01 | 0.01 | 0.000 | 2.87 |
| 219.55 | 220.70 | 1.15 | 1.91 | 131 | 0.04 | 0.45 | 0.46 | 0.001 | 3.66 | |
| and | 253.50 | 270.50 | 17.00 | 0.69 | 6 | 0.01 | 0.14 | 0.15 | 0.001 | 0.75 |
| VICE_002 | 214.60 | 233.50 | 18.90 | 1.06 | 36 | 0.18 | 0.18 | 0.12 | 0.005 | 1.83 |
| Incl | 214.60 | 216.60 | 2.00 | 3.55 | 208 | 0.17 | 0.17 | 0.99 | 0.012 | 6.51 |
Victory Target
Advanced surface work progressing
The Victory target is an outcropping copper and gold porphyry system.