Atalaya Mining announces results from Campanario Trend

Highlights

• Initial drilling results confirm PMV’s continued exploration potential and the possibility to quickly define a shallow mineral resource.
• Shallow polymetallic mineralisation includes:
  • CA15: 35.2 m at 0.7% copper (Cu), 1.53% zinc (Zn), 1.39% lead (Pb) and 62.5 g/t silver (Ag) (1.71% copper equivalent [CuEq]) from 77.8 m from surface.
  • CA21: 18.1 m at 1.19% Cu, 0.08% Zn, 0.32% Pb and 36.66 g/t Ag (1.4% CuEq) from 43.2 m from surface.
• Drilling to date has focused around the historical Campanario workings, which only represents approximately 10% of the entire strike length of the mineralised structure.
• Intersected mineralisation includes massive and semi-massive sulphides, as well as stockwork-type material, consistent with the Masa Valverde and Majadales deposits.
• Initial drilling results demonstrate the significant exploration potential of Atalaya’s strategic land package in the world-class Iberian Pyrite Belt.

Alberto Lavandeira, CEO, commented: “We are pleased with these initial drilling results from the Campanario Trend, which confirm the expectations we had on the exploration potential of PMV. We continue working on defining the potential shallow mineral resource in the short term which to date has only been drill tested in approximately 10% of the entire mineralised structure. In addition, we have several coincident geochemical and geophysical targets pending for drill testing indicating that we are still far from knowing the ultimate exploration potential of PMV.

“We believe that these initial results will not only have a positive impact on future development scenarios and project economics, but they also highlight the significant exploration potential of the Iberian Pyrite Belt.”

Campanario Trend initial drilling results

Atalaya has completed 22 drill holes at the Campanario Trend with assay results produced by the certified laboratory at Proyecto Riotinto. In addition, assays including gold were produced by an independent external laboratory (ALS) up to hole CA-13.

Drilling was focused around the historical Campanario workings, located in the central part of the 5 km long Campanario Trend. Assay results received to date included intersections that are the best so far in terms of ‘grade x thickness’ factor.

Local stratigraphy consists of black shales with varying graphite content, coherent acid rocks of rhyodacitic composition and, to a lesser extent, volcanic tuffs. Mineralised zones are mainly hosted in the black shale levels which are intensely folded and sheared and often show zones of sericitic, chloritic and silicic alteration.

Except near surface where it is oxidised (gossans), the main mineralisation styles are massive and semi-massive sulfides and stockwork-type. Pyrite is the predominant sulfide mineral with subordinate chalcopyrite, sphalerite, galena and sulphosalts. Mineralisation is polymetallic with elevated As, Sb, Hg and Bi values, therefore Atalaya believes the E-LIX System has strong potential to unlock value from any future mined material from the Campanario Trend.

The geometry of the mineralised zones varies down dip from steeply dipping to moderately dipping to the north-north-east and may include several parallel lenses of massive and semi-massive sulfides, with individual true thicknesses varying from 1 – 2 m up to 20 – 25 m.

The mineralised system remains completely open laterally but seems to get thinner at depth in some sections. Pinch and swell geometry is evident, quite likely due to syn/late deformation.

Next steps

Drilling at PMV will continue testing the shallow lateral extensions of mineralisation found to date at the Campanario Trend, as well as drill testing the FLEM geophysical anomalies west of the Masa Valverde deposit.

Mineralogical and petrographic studies are already in progress as well as sampling for initial metallurgical testwork.

Data gathering during the current drilling programme at Campanario will form the basis of the new geological model which will support an initial mineral resource estimation.

Read the article online at: https://www.globalminingreview.com/exploration-development/05072022/atalaya-mining-announces-results-from-campanario-trend/