Block 2 is a 3,300 hectare property located 45 km north-northwest of the giant La Escondida copper mining district (BHP Billiton, Rio Tinto and Japanese consortium), which is the world’s largest single copper mining Operation. The main identified target at Block 2 is Los Morros, an untested porphyry copper target interpreted to lie within the lower plate of a post-mineral thrust fault.
Detailed geological and hydrothermal alteration mapping defines an elongate zone of quartz-alunite advanced argillic alteration, extending over at least 3.5 km in Paleocene-aged volcanic rocks, which represents the eroded remnants of a much larger, pre-existing “lithocap” related to a possible porphyry copper system. Propylitic alteration occurs along the western, northern, and eastern flanks of the lithocap. Zoned, polymetallic veins with historical artisanal workings occur along the western and northern flanks of the lithocap. Geochemistry results indicate higher molybdenum values to the east and north, with more distally zoned zinc anomalies to the south and west. The hydrothermal alteration and geochemical zonation patterns suggest that a possible source porphyry copper system is located to the east or northeast of the altered outcrops. Further to the north-northeast of the lithocap, an area of quartz-sericite-pyrite alteration has recently been discovered that may indicate proximity to a porphyry copper source.
An interpreted, north-south trending, westward-verging post-mineral thrust fault to the east of the altered outcrops has translated barren volcanic rocks over the proposed porphyry copper target area and thus obscured it. The principal strands of the Domeyko Cordillera fault zone extend approximately north-south through the La Escondida mining district, including the Escondida Fault, (also sometimes referred to as the West Fissure Fault Zone or Falla Oeste). One important fault strand, the Sierra de Varas Fault, passes directly through the Block 2 property to the east of the Los Morros target, and may link to the, possibly younger, proposed post-mineral thrust fault that obscures the principal Los Morros target. The target area has not been drill tested to date.
EMX acquired a 1% NSR on the Block 2 property from Revelo Resources in 2020 (see EMX Press Release dated March 26, 2020). This project is operated by Pampa Metals Corp., a Canadian publicly traded company (CSE: PM); see their website for additional project details.
Note: The nearby mines and deposits mentioned above provide context for EMX’s Project, which occurs in a similar geologic setting, but this is not necessarily indicative that the project hosts similar tonnages or grades of mineralization