The ANCAL Project is located South of Antioquia and Northwest of Caldas, it has 21 Concessions and 14 applications for a total area of 20,632 ha. It has five strategically located gold targets within the properties nearby Marmato gold district that where defined by surface exploration and surface sampling.
These targets are Oro Fino, El Salto, Pácora, Campana and San Bartolome which, together with Marmato, form a 12 km diameter gold district. Minor artisanal mining has been conducted on parts of these targets but although there has been some limited amount of modern prospecting, no drilling has been carried out to date.
Gold mineralization in the targets are hosted by porphyry stocks of dacitic to andesitic composition that intrude metamorphic basement rocks. Two different mineralization styles have been identified in the Marmato district as follows:
- Gold rich porphyry style with copper and molybdenum at Oro Fino, with gold mineralization related to quartz veinlets associated with biotite and sericite alteration.
- Marmato‐style epithermal systems where the mineralization is associated with stockwork to sheeted massive sulphide veinlets of pyrite with sphalerite, chalcopyrite and galena associated with sericitic and argillic alteration. The targets related to these types of systems are El Salto, Pácora and San Bartolome.
- Oro Fino is located at the centre of the gold district and is 7 km northeast of Marmato. It is a gold rich porphyry system with copper and molybdenum. The gold anomaly at Oro Fino is approximately 5 km long by 1.5 to 2.3 km wide with gold values 0.1 g/t in soil and rock samples. The gold anomaly is coincident with a copper anomaly 3.5 km long by 1.8 km wide and a molybdenum anomaly 3.5 km long by 1.2 km wide. Gold values in 1,304 rock samples measure up to 10.3g/t, with five outliers between 13.3 and 74.6 g/t gold.
Geological mapping and rock sampling was carried out by Medoro in late 2009. Continuous channel samples were taken along all accessible outcrops and individual samples were taken of the veins. A total of 147 samples were collected. The channel samples collected returned values of up to 2.8 g/t gold.
- El Salto is located 3.5 km north of Marmato. It has an average gold grade of 0.94 g/t as shown by rock channel and chip samples taken from artisanal open-pit mine workings covering an area of 260 metres by 260 metres. It lies within a much larger area containing anomalous gold as defined by values greater than 0.1 g/t obtained from reconnaissance rock and soil sampling covering at least 1.6 km by 2.0 km. Artisanal miners exploit gold in shallow open pits.
- Pácora is located 1 km northeast of Oro Fino. Preliminary rock chip sampling has obtained anomalous gold values (greater than 0.1 g/t Au) over an area of about 2.3 km in diameter with values up to 4.90 g/t gold.
- San Bartolomé is located 4 km east of Marmato. The gold anomaly covers an area of 3.0 km in diameter and 41% of rock chip samples have values between 0.1 and 1.0 g/t gold.
2011 Work Plan on Regional Exploration Targets
A detailed field sampling program was conducted at Oro Fino in 2009 and a drilling program has been developed for this target. Further geological studies and field sampling is planned for El Salto, San Bartolomé and Pácora. Based on the results of this sampling program, Tolima Gold geologists will prioritize drilling targets and will design a program for drilling in late 2011.