Apoquindo Minerals Samples 68 Meters of 3.93 % Copper at Pachagon- Peru
VANCOUVER, BRITISH COLUMBIA–(Marketwire – Sept. 18, 2008) – Apoquindo Minerals Inc. (TSX VENTURE:AQM)(BVL:AQM) –
– Continuous 68 meters of 3.93% Cu is exhibited in secondary copper zone of Adit E and 58 meters of 2.76% Cu is exhibited in secondary copper zone of Adit F
– More than 5 square kilometres of leached capping, with locally intense phyllic stockwork, has been outlined by recent geologic mapping and surface rock sampling above the adits
– Apoquindo obtained the community and environmental permits to begin work on the property
Apoquindo Minerals Inc. (“Apoquindo” or the “Company”) (TSX VENTURE:AQM)(BVL:AQM) through its wholly owned subsidiary, Minera KoriTambo SAC, has initiated exploration at its Pachagon porphyry copper prospect in the Department of La Libertad, Peru and has obtained the community and environmental permits to begin work on the property. The principal target at Pachagon is leachable copper ore in secondary chalcocite hosted in both the sedimentary rocks and the granodiorite porphyry.
The Pachagon porphyry copper prospect is located 60 km northeast of Trujillo and 15 km northwest of the village of Otuzco, at an elevation of between 2800 and 3200 m. Barrick Gold’s Alto Chicama (Lagunas Norte) Mine is situated 23 km to the east of Pachagon in the western flank of the Peruvian Andes.
The large +5km2 area porphyry system exhibits weak to moderate phyllic alteration containing copper and iron sulphides that have been oxidized in part to form a supergene enriched copper zone. The dirty (clay & silt) component of the Carhuaz formation sandstone has been phyllically altered to sericite both disseminated locally and in veinlets with +/- quartz. Lying central to the phyllic altered zone is a copper zone composed of bornite-chalcopyrite-pyrrhotite in the unoxidized protore part and chrysocolla, chalcocite in the oxidized part and supergene enriched Copper zone noted principally in the lower tunnels.
Underground mapping and sampling in the old tunnels by Apoquindo along Amargo Creek has been completed. Tunnels E and F are approximately are approximately 10-15 vertical meters apart. Tunnel E may be near the bottom of the secondary enriched zone and Tunnel F may be near the top of the secondary enriched zone, all within the sedimentary rocks.
34 continuous chip samples, each two meters in length, have been collected on the ribs of tunnel E, possibly the lower boundary of the secondary enriched zone. The average copper value of these two meter samples is 3.93% Cu. 29 continuous chip samples, each two meters in length, have also been collected on the ribs of tunnel F, possibly near the upper boundary of the secondary enriched zone. The average copper value of these two meter samples is 2.76 % Cu.
The area of +150 ppm Cu in the leached capping is up to 2 km wide and at least 2 km long, north to south. This mineralized area of leached capping and alteration is open to the south and could be much larger, entirely on lands held by the Company. Previous drilling (three holes) by Anaconda (Antofagasta Minerals Plc) in 2002 suggests that the leached capping ranges up to 100 meters, and possibly more, to the south, with secondary enrichment as much as 74 meters in thickness. The best Anaconda hole contains 74 meters of 0.44% Cu is secondarily enriched and includes 24 meters of 0.67% copper. There are no records of the sampling and assay techniques nor are there any survey results for the exact location of the holes, thus the results of the Anaconda drilling are not in compliance with the rules of Instrument 43-101 and should not be relied upon.
The zone of supergene enriched copper oxides and sulphides crop out below the capping in an area which has been previously worked by local small miners, who accessed the zone through ten or more short adits. All the adits follow Amargo Creek. The supergene-enriched zone is exposed in the creek where it may be partially controlled by a shallow dipping shear zone. The dip of the shear zone parallels the slope of the creek where its trace can be followed for approximately 500 meters. The shear zone marks the boundary between oxidized sandstone’s above with unoxidized sulphide rich sandstone’s below. The shear can be seen along the east wall of the creek where most of the adits are found. The shear zone of unknown thickness seems to disappear under the mountain to the south and may represent an excellent target for hidden secondary copper.
Primary sulphide copper mineralization at the property is composed of chalcopyrite and bornite as recognized in a small area in Amargo Creek lying below the oxide level and associated with pyrrhotite and pyrite. The iron sulphide zone which develops outwards from the copper mineralization is dominated by pyrite.
The geologic and alteration maps, geologic section and tunnel assays discussed in this news release will be posted on the Apoquindo website www.apoquindominerals.com.
Currently, an extensive Induced Polarization (12 line km) and a magnetics (36 line km) geophysical surveys are currently being carried out on the prospect by Val D’Or Geophysics of Lima.
Regarding QA/QC, KoriTambo is currently inserting duplicates, standards and blanks according to National Instrument 43-101 standards for the surface sampling. Assays are performed by ALS Chemex in Peru.
Dr. Tom Henricksen, Chief Geologist of KoriTambo and the Company’s Qualified Person for the purposes of NI 43-101 has approved the information contained in this news release.
About Apoquindo Minerals
Apoquindo Minerals Inc. (TSX VENTURE:AQM)(BVL:AQM) is a Canadian based mineral exploration company whose principal purpose is the acquisition and development of base and precious metal deposits in South America. The Company is advancing its Apoquindo Copper Oxide Project in Chile comprised of highly prospective leachable copper ore bodies under option which are located in the coastal range of the Antofagasta region.
Management and directors have extensive experience working with and for the world’s largest copper producing companies, as well as several mining juniors. Apoquindo has offices in Santiago, Chile, Lima, Peru and Vancouver, Canada.
ON BEHALF OF THE BOARD OF DIRECTORS
APOQUINDO MINERALS INC.
This news release may contain forward – looking information including but not limited to comments regarding the timing and content of upcoming financings, work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward – looking information includes disclosure regarding possible future events, or conditions or results of operations that is based on assumptions about future economic conditions and courses of action, and therefore, involves inherent risks and uncertainties. Although management has a reasonable basis for the conclusions drawn, actual results may differ materially from those currently anticipated in such statements.
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