Guadalupe is a drill-ready gold prospect strategically located contiguous with the largest gold producer in the Segovia-Remedios Mining district - Frontino Gold Mines ("Frontino") currently owned by Gran Colombia Gold. Over the past year and a half, the Company has worked on the completion of a soil sampling program, airborne geophysics and 3D ground Induced Polarization ("IP") and has identified four targets for further exploration. Based on exploration work completed to date, geochemical and geophysical observations at Guadalupe are generally consistent with the signature from a shallow southeasterly dipping vein. Evidence suggests that gold mineralization will likely be in mesothermal veins confined to the underlying granodiorite, similar to the veins being mined at Frontino; also, disseminated gold has been discovered in the overlying intrusive rock thus suggesting a porphyry gold host rock with larger tonnage potential. Therefore, drilling will be designed to test both target types, high-grade vein-hosted gold and lower-grade disseminated gold hosted in a porphyry. The 786 hectare Guadalupe property is located approximately 140 km northeast of Medellin and 280 km north-northwest of Bogotá within the Segovia-Remedios Mining district.
Drill Program 2013
The 2013 program will begin with follow-up work and drilling focused on Target Area 2 (click here to view map) in the middle portion of the property which is deemed first priority. Target Area 2 demonstrates both a strong IP survey correlation and gold outcropping, both great indicators for gold occurrence below surface. The program will aim to drill 5,000-10,000 metres, evaluating the drill core to determine the depth and direction needed. There are three additional target areas, named Target Areas 1, 3 and 4, which also show correlations with the IP survey. By starting in the centre of the property on a strong target area, the geologic team can begin to get a clearer picture of the gold-rich structures and the direction they trend under cover.