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Gaban Gold Project




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PROJECT SIZE: 

18,700 Hectares (187km2)

TARGET STYLE:

Orogenic shear hosted gold mineralisation - 3 auriferous shear zones have been identified to date

DRILL TARGETS:  

Soil sampling, mapping and trenching are planned for the remainder of 2019, with the objective of outlining areas for drill testing in 2020

TARGETS:  

Initial work will focus on the Picitiri, Yanamayo, and San Jose shear zones

OWNERSHIP:

100% - 28 concessions (22 granted, 6 under application), subject to NSR Royalty

LOCATION:   

San Gaban District of Puno, Peru

GEOLOGY:   

The Puno Orogenic Gold Belt ("POGB")


Highlights
  • Gaban NI 43-101 Report.
  • Excellent infrastructure: The town of San Gaban lies within the Property limits and serves as a logistical base for exploration teams. The national road network of Peru connects San Gaban to major towns including Cusco, Juliaca and Puerto Maldonado from where it is possible to fly or drive to Lima. The San Gaban hydro-electric dam has a 206 MW capacity and provides power to the town of San Gaban.
  • Principal mineralogical, lithological and structural controls as required in this belt for economic orogenic gold mineralization to occur, are present.
  • Three outcropping auriferous shear zones identified: Picitiri, Yanamayo and San Jose
  • Palamina has also located outcropping slate shear zones hosting quartz veins-veinlets and observed 2-ages of mineralization in intrusives. Some of these features are recognized in the Ollachea gold deposit in the POGB where gold occurs in association with pyrrhotite and other sulphides within such shear structures
  • Several areas of active alluvial placer gold mining have been recorded in the same drainages as the Picitiri, Yanamayo, and San Jose shear zones, and some of the artisanal workings have exploited the outcropping shear zones as well.
Background

In September 2019, Helio acquired a 100% interest, subject to a 2% NSR, in the Gaban Gold Project and Tinka IOCG Project in Peru from Palamina Corp through the issuance of 10,000,000 common shares of Helio (see news release here).

Work done to date

Palamina completed five field programmes, conducting geological mapping, stream sediment sampling (80 samples), and rock sampling (183 samples).

In addition, an airborne magnetic and radiometric survey was flown over the Main Block of the property. The magnetic data indicates that the shear zones are associated with a consistent magnetic (TMI) low, and this area will be the focus of initial exploration work. Interpretation of the magnetic / radiometric data has identified numerous other targets that will be followed up with initial mapping / ground truthing.

The Southern Block has not been covered by airborne geophysics but does cover similar geology to the Main Block. Helio plans to conduct stream sediment sampling over the southern block in the 2020 field season.

Work Planned for the remainder of 2019
  • Stream sediment sampling in the western part of the project area, covering areas previously not sampled but known to have active alluvial gold operations.
  • Soil sampling around the Picitiri, Yanamayo, and San Jose shear zones to better define the extent and geometry of the targets
  • Channel sampling of shear zones where they are exposed.
  • Ground truthing of targets Identified from the airborne geophysics data.