• Gold-copper porphyry target in the 4 km long Urua-Omu copper zone.
  • Urua is unique in being located in the eroded vent of a Pliocene (5 to 2.6 million year) volcano. Urua geology consists of thick charcoal-bearing eruptive volcanic (diatreme) deposits draped over the top of at least two (drill intersected) monzonite intrusive stocks.
  • Work in 2008-2010 located gossanous float and outcrop is associated with iron-stained and quartz veined volcanic breccias. Gossanous float has assayed up to 37 g/t Au.
  • Two drill holes completed during 2012 intersected long intervals of low grade copper in the diatreme rock (70 m @ 0.1 % Cu) and narrow (up to 6.65 m) high-grade Au and Cu intersections in the monzonite stocks.
  • Work during 2008-2010 has shown that the vent area/mineralised zone is coincident with Au-Cu-Pd soil anomaly, airborne magnetic (analytic signal) and thorium anomalies and a strong 3D-IP chargeability anomaly measuring 400 m x 400 m and extending to the depth of data reliability (400 m).
  • Urua requires deep drilling below the present depth of investigation (300 m).

Technical Update

  • Cu-Au in outcrop
  • Widespread argillic alteration
  • High Cu/Zn ratio in soil
  • 42m @ 0.34g/t Au & 0.11% Cu T3 (trench#3)
  • 36m @ 0.97g/t Au & 0.72% Cu T5 (Trench#5)
  • Intense epidote alteration

2.16% Cu, 9.60g/t Au over 1.10 m in URD002

URD002 ended in strong epidote alteration with last 12.3 m averaging 0.13% Cu

  • Historic diamond drill hole URD002 – extensive epidote alteration at depth
  • 0.97 g/t Au, 0.72% Cu over 36.0 m T5
  • Several mineralized intervals in T3
  • URD004 – will test in direction of alteration, toward a deeper IP anomaly that is interpreted to be the center of porphyry system
  • 500 m hole URD004 (~15% of drilling budget)