Zoro Mining Corp. announces continuation of underground exploration at the Yura Gold Project, Peru
TUCSON, ARIZONA – Zoro Mining Corporationreleased today an update on its Yura Gold Project, located in the Arequipa Province of Southern Peru, 25 kilometres west of the city of Arequipa, a major industrial and mining centre hosting a population of more than one million people.
Zoro is planning an initial first-phase, 16-hole drill program, which will test both lateral and vertical distribution of gold mineralization across selected shears and adjacent host-rock, as well as other targets.
Two permit applications have been submitted for exploration core drilling, which is expected to commence in January of 2012. Edward Gates, a geologist with 20 years experience, is the dedicated project geologist.
About the Yura Gold Project
The goal at Yura is to define a disseminated gold occurrence amenable to open pit, heap leach extraction.
The Yura property consists of a large, circular granodiorite intrusive mass measuring more than 100 square kilometres, which can easily be seen in satellite photographs.
Zoro controls more than 8,000 hectares of titled exploitation mining property, approximately 80% of the intrusive.
Mineralization at Yura is hosted by a shattered granitic body containing more than two dozen gold-mineralized shears, varying in width from a few meters to more than 100 meters, commonly with traceable surface strikes of several hundred meters to a kilometre and more, as evidenced by extensive artisanal pits and workings, and most recently by exploration road cuts, trenching, and sampling activities.
Gold mineralization is found vertically from 2,200 meters above sea level at the Fortuna
Shear, to as low as 1,500 meters at the Santa Rita Shear near the bottom of the Vitor Canyon.
The hostrock is pervasively fractured and altered. Much of the gold mineralization is localized along northwest trending shear zones, although there are a number of intensely fractured, northeast trending shear zones as well.
Quartz veins are commonly found within the shear zones, often containing gold visible with a hand lens, and free gold can often be panned from mineralized rocks within shears and associated fracturing.
One of the keys to any large, disseminated gold project is the amount of fracturing in the host-rock, which provides permeability and large areal distribution of gold mineralizing fluids.
The wide surface distribution of the shear zones containing free gold at Yura creates an unusually large mineralized footprint, covering a significant portion of the exposed granodiorite.
Most of the world’s larger disseminated gold projects cover relatively small footprints, with many of the producing mines covering only a few square kilometres.
The Yura Gold Project is a joint venture between Zoro and Yura Ventures. Zoro has the right to earn an initial 50% interest by funding US$5 million in exploration expenses by April 2014. Zoro can purchase an additional 25% equity interest in the project for a minimum of US$30 million, or 6% of the market price of inferred reserves (minimum 600,000 ounces), whichever is more, for a total project interest of 75%.
Current Surface and Underground Exploration Programs
Currently, Zoro is sinking exploration shafts and drifting tunnels at the Aylin, Charlie, and June shear zones. Within each of these shear zones are intensely mineralized centres consisting of quartz and quartz-breccia veining.
Underground bulk samples from each of the shears have been extracted and sent to the lab for analysis. In addition, surface mapping is being carried out by on site geologist Ed Gates.
The data from the underground exploration programs may provide additional information to support the feasibility of an open pit operation. To date, 468 surface samples have been taken at Yura. Of these samples, 359 had detectable gold. The mean grade was 1.65 g/t gold when all assays grading more than 10 g/t were to cut to 10 g/t, pointing to the presence of disseminated gold in the host rocks.
The Aylin Vein trends N50W and dips 50 degrees to the SW, and varies in width from 0.5 to 2.0 meters. At the surface, the quartz vein has been identified along a distance of 175 meters, and quartz float suggests a continuation along strike for at least an additional 50 meters.
The top few meters of the Aylin vein were extensively worked by the informal miners, with one near-surface sample from informal miner workings assaying 5.13 g/t gold.
Exploration mining is continuing, employing a steel head frame above a 1.2 x 2.4 meter shaft, advancing to an initial depth of 20 meters. From the shaft, two levels have been established. The upper level has 40 meters of drifting along strike. The second level has been established, and is presently crosscutting toward the vein.
Visible gold was encountered in several locations along strike of the first level.
The Charlie Vein trends N35W and dips 80 degrees to the SW, and varies in width from 0.03 to 0.3 meters.
Extensive informal mine workings along the strike of the Charlie extend from the ridge top to the bottom of the adjacent Vitor canyon, a vertical distance of 435 meters and a horizontal distance of 1300 meters, with one sample from one of the informal dump workings returning 11.25 g/t gold.
Exploration mining is in progress, employing a steel head frame above a 1.5 x 3.0 meter shaft, advancing to an initial depth of 23 meters. From the shaft, two levels have been established. The upper level has 12 meters of drifting along strike, and the second level has a short crosscut from the shaft to the vein.
Where the vein was cut on the second level, visible gold was encountered. Quartz vein material, much of it containing visible gold, has been sacked and stored at the site.
The June Vein trends N40W and dips 87 degrees to the NE, and varies in width from 0.2 to 0.6 meters, and has been exposed along the surface by informal working along a strike of 270 meters, with one sample from one of the informal dump workings returning 13 g/t gold.
Exploration mining is on schedule, with a steel head frame above a 1.2 x 2.4 meter shaft, advancing to an initial depth of 20 meters. From the shaft, three levels have been established. The top level has 15 meters of drifting on the vein. The second level has 12 meters of drifting on the vein. The third level has 8 meters of drifting on the vein.
Geological Consultant Mr. John Hiner, MSc, P.Geo, has reviewed and approved the scientific and technical information contained in this release.
About Zoro Mining Corp.
Zoro Mining Corp. is a junior exploration company advancing gold and copper projects in South America, with a major focus on large-scale, open pittable targets in Peru and Chile. Zoro’s key projects are Yura, Don Beno, Piedra Parada and Fritis properties.