INDEPENDENT TECHNICAL REPORT and RESOURCES ESTIMATION on the EL ALACRAN COPPER GOLD DEPOSIT Department of Cordoba, Colombia
Total Page:16
File Type:pdf, Size:1020Kb
INDEPENDENT TECHNICAL REPORT AND RESOURCES ESTIMATION ON THE EL ALACRAN COPPER GOLD DEPOSIT Department of Cordoba, Colombia For Cordoba Minerals, 200 Burrard Street, Suite 650, Vancouver, British Columbia, Canada, V6C 3L6 Prepared by Mr. Ian Taylor, BSc(Hons), GCert Geostats. MAusIMM (CP) Dr. Stewart H Redwood, PhD, FIMMM Effective Date: 27 October 2016 Signature Date: 5 January 2017 Reference: MA1604-3-3 Mining Associates Pty Ltd ABN 29 106 771 671 Redwood Exploration & Discovery Inc. Level 4, 67 St Paul’s Terrace PO Box 0832-1784 Spring Hill QLD 4004 AUSTRALIA World Trade Center T 61 7 3831 9154 Panama City, REPUBLIC OF PANAMA F 61 7 3831 6754 W www.miningassociates.com.au Independent Technical Report And Resources Estimation On The El Alacran Copper Gold Deposit El Alacran Deposit. 5 January 2017 TABLE OF CONTENT DEPARTMENT OF CORDOBA, COLOMBIA .................................................................................... I TABLE OF CONTENT ....................................................................................................................II 1 SUMMARY .................................................................................................................. 12 2 INTRODUCTION ........................................................................................................... 16 2.1 PURPOSE OF REPORT ........................................................................................................................ 16 2.2 TERMS OF REFERENCE AND PURPOSE ............................................................................................. 16 2.3 INFORMATION USED ........................................................................................................................ 16 2.4 SITE VISIT BY QUALIFIED PERSONS ................................................................................................... 16 3 RELIANCE ON OTHER EXPERTS ..................................................................................... 17 4 PROPERTY DESCRIPTION AND LOCATION ..................................................................... 17 4.1 PROPERTY LOCATION ....................................................................................................................... 17 4.2 PROPERTY DESCRIPTION .................................................................................................................. 19 4.2.1 Legal Framework .................................................................................................................... 19 4.2.2 El Alacran Property Acquisition .............................................................................................. 20 4.2.3 San Matias & El Alacran Deposits Mining Rights and Applications ........................................ 21 4.3 ENVIRONMENTAL REGULATIONS AND PERMITS ............................................................................. 26 4.4 LEGAL ACCESS AND SURFACE RIGHTS .............................................................................................. 26 4.5 INDIGENOUS RESERVES AND COMMUNITIES .................................................................................. 27 4.6 WATER RIGHTS ................................................................................................................................. 27 4.7 OTHER RISKS ..................................................................................................................................... 27 5 ACCESSIBILITY, CLIMATE, LOCAL RESOURCES, INFRASTRUCTURE AND PHYSIOGRAPHY ........................................................................................................... 27 5.1 ACCESS .............................................................................................................................................. 27 5.2 CLIMATE ............................................................................................................................................ 29 5.3 LOCAL RESOURCES AND INFRASTRUCTURE ..................................................................................... 29 5.4 PHYSIOGRAPHY ................................................................................................................................. 30 6 HISTORY ...................................................................................................................... 32 6.1 COLOMBIAN GOLD MINING HISTORY .............................................................................................. 32 6.2 EL ALACRAN HISTORY ....................................................................................................................... 32 6.2.1 Dual Resources 1987-1989 ..................................................................................................... 32 6.2.2 Ashmont 2010-2012 ............................................................................................................... 33 Page 2 of 147 Independent Technical Report And Resources Estimation On The El Alacran Copper Gold Deposit El Alacran Deposit. 5 January 2017 6.2.3 OMNI 2014 ............................................................................................................................. 33 6.2.4 Artisanal Mining ..................................................................................................................... 34 7 GEOLOGICAL SETTING AND MINERALIZATION .............................................................. 34 7.1 REGIONAL GEOLOGY AND MINERALIZATION ................................................................................... 34 7.2 EL ALACRAN DEPOSIT GEOLOGY AND MINERALIZATION ................................................................. 39 7.2.1 Geology .................................................................................................................................. 39 7.2.2 Lithostratigraphy .................................................................................................................... 42 7.2.3 Alteration and Mineralization ................................................................................................ 44 8 DEPOSIT TYPES ............................................................................................................ 47 9 EXPLORATION ............................................................................................................. 49 9.1 TOPOGRAPHY ................................................................................................................................... 49 9.2 GEOLOGICAL MAPPING .................................................................................................................... 49 9.3 GEOCHEMISTRY ................................................................................................................................ 49 9.3.1 Rock Geochemistry................................................................................................................. 49 9.3.2 Soil Geochemistry................................................................................................................... 49 9.4 GEOPHYSICS ...................................................................................................................................... 52 9.4.1 Helicopter Magnetic and Radiometric Surveys ...................................................................... 52 9.4.2 Ground Magnetic Surveys ...................................................................................................... 53 9.4.3 Typhoon IP and EM Survey .................................................................................................... 54 10 DRILLING ..................................................................................................................... 57 10.1.1 Drill collar plan and representative section ........................................................................... 58 10.2 ACCURACY AND RELIABILITY ............................................................................................................ 60 10.2.1 Twinned Holes ........................................................................................................................ 60 11 SAMPLE PREPARATION, ANALYSES AND SECURITY ....................................................... 62 11.1 SAMPLE PREPARATION SAMPLE SECURITY ...................................................................................... 62 11.1.1 Ashmont Drill Core ................................................................................................................. 62 11.1.2 Cordoba Minerals Drill Core ................................................................................................... 63 11.2 QUALITY ASSURANCE & QUALITY CONTROL (QA-QC) ...................................................................... 64 11.2.1 Ashmont Drill Core ................................................................................................................. 64 11.2.2 Author’s Opinion .................................................................................................................... 70 11.2.3 Cordoba Minerals Geochemical and Drill Core Samples ........................................................ 71 12 DATA VERIFICATION .................................................................................................... 85 12.1 DATA VERIFICATION PROCEDURES .................................................................................................. 85 Page 3 of 147 Independent Technical Report And Resources