PROJECTS - Patagonia
Other Properties of Note: CVSA Agreement
La Calandria
La Calandria is located about 80 km north of Cerro Vanguardia mine in Santa Cruz province. Gold mineralisation on this property is associated with tectonic and carapace breccias in a 12 square kilometre rhyolite flow dome setting. Gold is hosted in strongly brecciated brittle fracture zones developed in the rhyolite flow-dome and at its brecciated contact with the host tuffs and volcaniclastics. Gold appears to be associated with finely banded chalcedonic to fine crystalline quartz veinlets cutting the breccias and filling open spaces within the breccias. Powdery hematite is a common feature of the mineralization. Pyrite is locally present and visible gold has been reported. The hydrothermal alteration comprises silicification of the rhyolite breccias, and local argillic alteration.
Work completed includes reconnaissance geological mapping and rock chip sampling. Better rock chip assay results include:
2 metres at 7.1g/t Au, 87 g/t Ag,
2 metres at 2.2 g/t Au, 10 g/t Ag, and
23 metres at 1.8g/t Au including 2 metres at 17.3 g/t Au.
Exeter evaluation and sampling is continuing to define drill targets. The area appears to have residual soils favourable for soil sampling which may extend known target area. A magnetic survey is planned to better define structures underneath cover.
Verde
Silver mineralisation on this property, in western Santa Cruz Province, relates to at least 30 structures with epithermal vein quartz and alteration zones proximal to a volcanic sinter. Strike lengths of veins range from 100 to 700 metres and widths from 0.7 to 3.0 metres. Work by CVSA included geological mapping and extensive rock chip sampling which gave strongly anomalous silver values. The values above 15g/t silver are shown on the map. The sinter zone is shown in red, and felsic volcanics in yellow.
Exeter has conducted a program to confirm values, and plans more detailed mapping and sampling, in addition to magnetic surveys to outline structures under extensive cover.
Many of the properties subject to the agreement were strategically located by CVSA using satellite imagery in Patagonia, suggesting large alteration systems. The amount of subsequent exploration on these has varied, but in many cases anomalous gold mineralisation has been identified. Exeter intends to re-examine all of these systems with a view to identifying gold and/or silver targets at a size threshold lower than that used by CVSA in the first instance.
La Rubia
La Rubia prospect is located 11 km SSE from the town of Los Menucos in Rio Negro Province.
Banded saccharoidal to chalcedonic quartz-calcite-fluorite veins and local breccias faults. ENE and NW strikes and steep S dips. Alteration is pervasive silicification and fine silica vein stockworks. Immediately east of La Rubia, an Iam Gold prospect hosts a long banded quartz -hematite vein (1500 m long with an average of width of 1.5 m thickness). Some 47 holes have been drilled and several trenches excavated on this vein quite recently.
Domo
Also located in Rio Negro province, Domo hosts a WNW striking structure with quartz cemented tectonic breccia within rhyolites. It is marked by strong pervasive silicification and quartz stockworks with locally abundant pyrite associated with chalcedonic silica. The mineralized structure is 840 metres along strike and 8 to 49 metres wide (av. 12.9 m).
Trench samples reportedly returned an overall average of 12.9 m @ 0.3 g/t Au over 840 metres of strike length with best individual trench sample returning an average of 34 metres @ 0.9 g/t Au.
AMEX : XRA TSX Venture : XRC FRANKFURT : EXB