El Plomo Section

El Plomo is considered to hold promise for the discovery of a Broken Hill Type ("BHT") silver-lead-zinc deposit. BHT Geological data suggest s that the genesis of the silver-lead-zinc mineralization at El Plomo is similar to the BHT silver-lead-zinc deposits.

 

Dr. Spry, an expert on BHT deposits, has outlined over 20 geological similarities between El Plomo and classic BHT deposits around the world.

 

In 2019, the Company conducted an airborne magnetic and electromagnetic geophysical survey over the Dawson-Green Mountain property because known BHT deposits are characterized by positive magnetic signatures. The survey successfully discovered a subtle but distinct 2.5 km long magnetic anomaly located approximately coincident with and south of the mineralized trend.

Drill testing (drill hole EP-20-01) of the El Plomo magnetic anomaly was completed on August 27, 2020 and was not successful in intercepting significant sulphide mineralization. The targeted mineralized zone which measured 30.5m (100 ft) in historic drill hole GC-9 had narrowed to 2.9m (9.5 ft) in drill hole EP-20-01. See news release August 28, 2020. Based on this result it was deemed that continuation of the drill program was unwarranted pending further review of geophysical data, final evaluation of the drill core and return of assays. Assays were received subsequent to the quarter end and returned low grade values. See news release November 16, 2020. Detailed geological (structural) mapping is proposed for the next exploration program at El Plomo.

Historic Drill holes GC-8 & GC-9

*GC-8 intercepted 1.9% zinc over 5.6 m (52.1 to 57.8 m) whereas GC-9, located closer to the magnetic anomaly, intercepted 5.3% zinc over 8.2 m (55.6 m to 63.8 m).