Announcement • Jul 18
ATERRA Metals Inc. Reports Phase I Drill Assay Results from Totora Cu Au Project
ATERRA Metals Inc. reported Phase I drill assay results from its Totora Cu/Au Project located in the Dos Amigo Mining District, 15 kilometres south of Tintina Mines' Domekyo Sulfurous development project. AFROD01 returned 284 metres grading 0.64% copper equivalent from surface at the Frontera Cu/Au Deposit (0.41% Cu and 0.27 grams per tonne gold) including 180 metres grading 0.71% CuEq (0.48% Cu and 0.28 g/t Au) including 70 metres grading 0.82% CuEq (0.56% Cu and 0.32 g/t Au). ATOD01 returned 194 metres grading 0.41% CuEq (0.35% Cu and 0.11 g/t Au) collared on the Totora Porphyry. Drilling confirmed the presence of significant copper and gold mineralization at both the Frontera Deposit and nearby Totora Cu/Au Porphyry highlighting the potential of the Totora Cu/Au Project. Table 1 - Highlights of Totora Phase I Drill Assay Results: AFROD01, from 0.0 to 284.0 metres, interval 284.0, CuEq 0.64%, Cu 0.41%, Au 0.27 g/t, Frontera; including 100.0 to 280.0 metres, interval 180.0, CuEq 0.71%, Cu 0.48%, Au 0.28 g/t; including 148.0 to 218.0 metres, interval 70.0, CuEq 0.82%, Cu 0.56%, Au 0.32 g/t. ATOD01, from 192.0 to 208.0 metres, interval 16.0, CuEq 0.44%, Cu 0.27%, Au 0.19 g/t, Totora; and from 254.0 to 448.0 metres, interval 194.0, CuEq 0.41%, Cu 0.35%, Au 0.11 g/t. ATOR01, from 164.0 to 208.0 metres, interval 44.0, CuEq 0.31%, Cu 0.20%, Au 0.13 g/t, Totora. ATOR03, from 78.0 to 90.0 metres, interval 12.0, CuEq 0.37%, Cu 0.32%, Au 0.09 g/t, Totora; ATOR03A, from 72.0 to 88.0 metres, interval 16.0, CuEq 0.38%, Cu 0.34%, Au 0.08 g/t, Totora; and from 180.0 to 210.0 metres, interval 30.0, CuEq 0.48%, Cu 0.15%, Au 0.33 g/t. ATOR04, from 56.0 to 68.0 metres, interval 12.0, CuEq 0.48%, Cu 0.23%, Au 0.26 g/t, Totora; ATOR04D, from 94.0 to 150.0 metres, interval 56.0, CuEq 0.38%, Cu 0.22%, Au 0.17 g/t, Totora. ATOR05, from 86.0 to 98.0 metres, interval 12.0, CuEq 0.39%, Cu 0.38%, Au 0.06 g/t, Totora. ATOR06, from 62.0 to 82.0 metres, interval 20.0, CuEq 0.34%, Cu 0.29%, Au 0.08 g/t, Algarrobilla; and from 98.0 to 138.0 metres, interval 40.0, CuEq 0.29%, Cu 0.25%, Au 0.07 g/t. ATOD08, from 120.0 to 138.0 metres, interval 18.0, CuEq 0.37%, Cu 0.23%, Au 0.16 g/t, Totora; and from 150.0 to 196.0 metres, interval 46.0, CuEq 0.42%, Cu 0.28%, Au 0.17 g/t. Intervals were composited using a 0.25% CuEq cut-off grade including no more than 10-metres of internal sub-0.25% CuEq material. Intervals represent downhole lengths as insufficient data is available to estimate true widths. ATERRA's Phase I drill program comprised a total of 2,745.5 metres of drilling targeting the Frontera Deposit, the advanced Totora Cu/Au porphyry and early-stage Algarrobilla Cu/Au porphyry. The advanced Clinton Cu/Au porphyry was not drilled as a significant amount of historical diamond drill core is available for review. ATERRA's Frontera Cu/Au Deposit, which remains open to depth, hosts a historical resource estimate of 16 million tonnes indicated grading 0.56% CuEq and a further 34 million tonnes at 0.54% CuEq in the inferred category. As part of the Phase I drill program, ATERRA drilled a single diamond drill hole (AFROD01) into the higher-grade core of the Frontera Cu/Au Deposit. The hole returned 284 metres grading 0.64% CuEq with significant higher grade intervals including 180 metres grading 0.71% CuEq and including 70 metres grading 0.82% CuEq. The results confirmed that the Frontera Cu/Au Deposit contains a core zone of higher grade Cu/Au mineralization extending from surface to depth. ATERRA's upcoming Phase II drill campaign will focus on growing Frontera's resources as well expanding the current limits of the higher grade Cu/Au core zone. In addition, infill drilling will focus on increasing the confidence level of the resources with the goal of converting the current Inferred estimate to the Measured and Indicated category. At the Totora Cu/Au Porphyry, diamond drill hole ATOD01 was collared to intersect the main Totora mineralized porphyry confirming the presence of consistent copper and gold mineralization with 194 metres grading 0.41% CuEq starting at 254 metres downhole. The mineralization cut by ATOD01 continues to surface and remains open to depth. In addition, 6 holes were drilled to test for extensions of the mineralization at the Totora Cu/Au Porphyry. A mineralized SW extension of the main Totora Porphyry was cut in holes ATOR03A, ATOR04/4D and ATOR05. Drill hole ATOD08 filled in a gap in the drilling between the main Totora Porphyry and SW extension returning 3 intervals of +0.25% CuEq or 82 metres grading 0.35% CuEq (0.23% Cu and 0.15 g/t Au) at a 0.2% CuEq cutoff. The results from ATOR08 suggests that Cu/Au mineralization extends from the main Totora Cu/Au Porphyry through to the SW extension. Reverse circulation hole ATOR01 was lost at 208 metres. ATOD01 was collared at the same location as ATOR01 and drilled with a tricone bit to 200 metres where diamond drilling commenced. Drill hole ATOR02, testing the eastern margin of the porphyry, returned no significant mineralization. Phase II drilling at Totora will focus on increasing the dimensions of the known Cu/Au mineralization as well as infilling drilling in areas where the current drilling is too widely spaced. Two drill holes, ATOR06 and ATOR07, were collared into the Algarrobilla porphyry, located approximately 1 km south of the Totora porphyry. ATOR06 returned two intervals of above cutoff grade CuEq mineralization as noted in Table 1, however, ATOR07 returned no significant mineralization. During Phase II exploration, a deep penetrating geophysical survey may be completed over the Algarrobilla Porphyry to develop target along the mineralized trend. Phase 1a drill holes were completed using the RC technique, collared with a 5 ½" diameter bit and maintaining a consistent diameter throughout. Rock cuttings were lifted to surface by compressed air and collected from the cyclone (or hydraulic cyclone for wet samples) into the splitter by the drill contractor, under supervision of ATERRA geologists. Samples were split twice, producing the laboratory sample, a twin, and a coarse reject. Each sample was weighed, bagged, and ticketed according to a pre-prepared sampling list. Chip boxes were generated during sample extraction. Sealed sample bags were securely stored before dispatch to laboratory facilities, accompanied by reference materials (standards) for QA/QC verification. Quick chip logging was performed in the field, while RC chip trays were later sent to IMG facilities in Vallenar for detailed logging and secure storage. Phase Ib drill holes were completed using HQ drill bits.
