These permits include a social license agreement with the community of Picotani which has been completed.
The first 1,000 metres of drilling will test a near surface zone of zinc-lead mineralization which was the site of a shallow 10-hole drill program completed by Solex Resources ("Solex") in 2006 and artisanal production in the 1980’s.
Historic Drill Results
Drilling completed in 2006 by Solex, near the area of artisanal mining, was successful in intersecting high grade zinc and lead mineralization associated with a manto-type deposit hosted in brecciated limestones. Additional drilling completed outside of the artisanal workings, intersected widespread low grade zinc and lead mineralization hosted in siltstones.
The zone of mineralization outlined by the historic drilling was previously defined by detailed surface sampling, soil geochemistry and trenching. The soil geochemical sampling was successful in outlining four discreet surface zinc-lead anomalies, of which only one was drill tested.
Exploration Potential
Modelling of the historic drill results by Caracara suggests that the mineralization is directly associated with fault breccia developed along a north dipping thrust fault. The mineralized zone is open long strike towards the north and west. A cross section highlighting the geometry of the surface mineralization at Pilunani, is included below.
Mineralization consists of sulphide-oxide cemented limestone breccias, narrow stringers of galena-sphalerite and patches of zinc oxide hydroxides within a matrix of limonite-goethite-jarosite-hematite.
As the limestone breccias appear to thicken towards the west, the Company believes there is good exploration potential for extending the mineralized zone both laterally and at depth.
Importantly, a majority of the mineralized intersections listed above, begin from surface which suggests that if an economic deposit is outlined, it could be amenable to open pit mining.
Three other broad zinc-lead surface geochemical anomalies provide additional exploration potential and will be followed up with more surface sampling and mapping in the upcoming field program.
"With many analysts becoming more bullish on the prospects for zinc over the next two years, we feel our timing is right to allocate funding towards such an advanced stage zinc project as Pilunani," Nick Tintor , President and CEO, commented.
