The Pe Quente prospect is situated approximately 26km southeast of the town of Peixoto de Azevedo in northern Mato Grosso State, Brazil. Pe Quente is host to several garimpo (artisanal) workings, with a high proportion of the shallow workings in the area located on in-situ mineralisation hosted in the weathered profile of the Matupá granitic sequence following a regional scale northwest structural trend. The Pe Quente Project has identified both quartz vein hosted gold and copper mineralisation, and disseminated style gold and copper mineralisation hosted within the favourable Matupá intrusion sequence.
The veins at Pe Quente have characteristics of epithermal style veins and are suspected to be related to nearby porphyry style mineralisation venting metalliferous fluids. Exploration of these veins (both) provides resource potential, and the continuity, geometry and the changing metallogeny of these vein systems define vectors towards large porphyry targets in the district. Among multiple veins with anomalous gold values at surface, the PQ002 Copper-Gold Vein Zone has been targeted with follow-up drilling to depths of 50m vertical extent, and better intercepts include 7.62m at 6.46 g/t Au (1PQ002), and 4m at 4.39g/t Au (2PQ019). The recent drilling programmes have defined good continuity of mineralisation along strike of the east-west trending mineralised zone. Mineralisation is confirmed for 350m of strike length and is open in all directions, with a scout hole (PQ037, 1m @ 1.2g/t Au) intersecting additional mineralisation 300m east. Additional work is required to confirm the intercept is on the same structure.
Disseminated style gold-copper mineralisation is intersected in diamond hole PQ003 (7.1m @ 6.58g/t Au) and down-dip tests of the same zone returned significant gold and copper intercepts including in hole PQ014, which returned 5.6m at 2.24 g/t Au from 64.4m and 9m at 1.27% copper from 70m drilled depth. The intense alteration of granitic wall rock associated with the disseminated style mineralisation at Pe Quente is indicative of high hydrothermal fluid flow and is suggestive of fluid pathways related to a feeder system.
The most recent drilling campaign at Pe Quente was completed in January 2012 with a total of 3,317m diamond drilling completed in 26 drill holes. The Pe Quente program was initiated with 7 holes that doubled the strike extent of the PQ002 Copper-Gold Vein Zone to over 350m of strike length (3PQ021-PQ027). An additional two holes (PQ042 and PQ043) test both down-dip targets, and a parallel mineralised zone that was identified in upper portion of drill hole PQ024. PQ043 intersects the targeted zone at approximately 85m vertically below the surface, with a relatively narrow intercept for the zone of 1.25m @ 2.41g/t Au and 0.24% Cu from 138.85m drilled depth.
Other drill holes in the program tested a combination of targets generated from geophysics (14 line km, pole-dipole IP survey completed in August 2011) and surface geochemistry targets across 2.5km northwest trend. The program comprised one and two hole tests on 14 separate targets. Results are being compiled and interpreted to identify follow-up targets for the Pe Quente area.
- PQ002 results initially reported by IGS:ASX news release dated 18 January 2011
- PQ019 results initially reported by IGS:ASX news release dated 23 May 2011
- PQ021-027 results reported by IGS:ASX news release dated 08 December 2011
|Au (g/t)||Cu (percent)||Ag (g/t)|
Samples assayed are ½ diamond core cut at the Company’s core yard at Peixoto de Azevedo
Assay results SGS-Geosol Laboratory, Brazil, Fire Assay method. All assay numbers are reported as un-cut and all intercepts reported as drill thickness and are not to be interpreted as true thickness unless otherwise indicated.
Gold intersections are based on a 0.5 g/t gold lower cut-off, no upper-cut applied and maximum 2m internal dilution.
Copper intersections are based on a 0.1% Cu lower cut-off, no upper-cut applied and maximum 2m internal dilution
Competent person statement
The information in this report that relates to exploration results is based on information compiled by Mr Travis Schwertfeger. Mr Schwertfeger is the Chief Executive Officer of International Goldfields Limited. Mr Schwertfeger is a member of The Australian Institute of Geoscientists and has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Mr Schwertfeger consents to the inclusion in the report of the matters based on information in the form and context in which it appears.