Welcome!

News Feed Item

Arena Minerals Discovers Two New Copper Porphyry Prospects in the Atacama Copper Project and Provides Exploration Update

TORONTO, ONTARIO -- (Marketwired) -- 06/10/14 -- Arena Minerals Inc. ("Arena" or the "Company") (TSX VENTURE: AN) announces additional results of its initial regional exploration program on the 2,930 square kilometer Atacama Copper Property ("ACP" or "Property"), located in the Antofagasta region of Chile. Arena has discovered two additional copper porphyry prospects (Quebrada Honda & Pampa Paciencia North). The prospects are located approximately 20 kilometres northwest of Lomas Bayas and 19 kilometres northwest of the Spence copper mines respectively. To date, approximately 60% of Atacama Copper Project has been covered by field work, resulting in 7 porphyry target areas discovered of approximately 9 square kilometres each.

Quebrada Honda prospect was discovered by following up on coincident magnetic and radiometric anomalies approximately 8 kilometers south east of Cerro Barco. The area of interest sits on a major NW-SE trending lineament that passes through both Cerro Barco and Quebrada Honda and continues to the SE for several kilometres, passing through the Lomas Bayas mine. Prospecting and mapping located a large area of stockwork and brecciation coincident with the geophysical anomalies and associated with an east-west striking zone of intense fracturation/faulting that extends for at least one kilometre before being lost in overburden. The stock work consists of quartz-barite veinlets with strong hematization and epidote commonly associated with porphyry systems in the area and is flanked on all sides by outcropping areas of brecciated andesitic rocks. Preliminary sampling of the outcropping areas returned anomalous values of copper up to 0.16% Cu, in addition to arsenic and manganese anomalous values.. The target size in the Quebrada Honda prospect is approximately 4 square kilometers. Additional work on the target will consist of ground magnetic surveys, additional mapping, sampling and trenching.

Prospecting north of the Pampa Paciencia epithermal gold target has located a zone of quartz vein stock work and separate area of intense brecciation within a granodiorite intrusive. The two areas are approximately two kilometers apart and separated by sand and gravel cover and are closely associated with the intersection of N-S and NW-SE trending lineaments as well as a high radiometric anomaly. The breccia is strongly silicified and covers an area approximately 50 by 50 metres of outcrop and subcrop. Similarly, the quartz veinlet stockwork zone covers a slightly larger area of 50 by 100 metres before being lost under overburden cover. Initial results from prospecting of both outcrop areas has returned anomalous values in copper (up to 497ppm), antimony (up to 192ppm), arsenic (110ppm) and lead (greater than 1%) which are all indicative of relative proximity to porphyry mineralization. Mapping and chip sampling as well as additional prospecting are planned to better define this new target in the coming weeks.

A map of the Atacama Copper Project showing the location of the Pampa Paciencia North & Quebrada Honda prospects can be accessed here.

Exploration Update

At Cerro Barco, an area of quartz-magnetite stockwork immediately west of the original showing has been mapped in outcrop. The area also contains several outcrops of with potassic altered andesitic rocks with moderate to strong fracturing and cross-cutting veinlets of quartz-magnetite with copper oxide in places. The zone of fracturing and stockwork mineralization has been followed to the north towards the Antofagasta Calama Lineament ("ACL") and the magnetic anomaly until it disappears under cover. This alteration combined with the already identified intense hematite-silica alteration and copper gold mineralization that returned values up to 2.3%Cu and 1.98 g/t Au adds to the quality and exploration potential of this porphyry target. Additional work is being planned for this prospect, including extensive geochemistry, detailed mapping, trenching and ground geophysics. The Cerro Barco target is considered a priority exploration area due to the combination of several positive factors for porphyry mineralization including favorable structural context (NNW-SSE major lineament intersecting the ACL), presence of magnetite-quartz-copper oxide stockwork, potassic alteration of feldspars, and strong propylitic alteration of surrounding andesites, hematization and silicification.

In addition to the above mentioned prospects, regional prospecting has identified an area approximately ten kilometers east of Quebrada Honda with evidence of historical artisanal mining. The pits generally strike N-S and contain copper oxide within quartz bearing structures. Initial grab sampling from this area has returned copper values up to 3.49% and gold values up to 1.42 g/t.

On the western portion of the ACP claim block, primarily contained within the Coastal Range metallogenic NS belt, several areas of interest have been discovered during reconnaissance fieldwork. Samples from two areas in particular, have returned mineralized samples ranging from 0.6% to 8.10% Cu. While prospects in this belt are typically mantos, copper porphyries have been discovered, including the nearby Antocuya copper porphyry currently in development stage.

Vernon Arseneau, Vice-President of Exploration of Arena, commented "We continue to add prospective target areas to our growing portfolio of prospects within the Atacama Copper Project. We intend to continue with our current program, which we believe is proving to be cost efficient and effective."

The Company intends to continue working on the prospects in conjunction with initial exploration of the remaining targets identified on the Atacama Copper Property that have not been worked to date. At present just over 60% of the land has been covered in the initial exploration program.

To view the website, please visit www.arenaminerals.com. In addition to featuring information regarding the Company, its managements and projects, the website also contains the latest corporate news and an email registration allowing subscribers to receive news and updates directly.

The technical and scientific aspects of this news release have been reviewed and approved by Mr. Vernon Arseneau, P.Geo, who has been designated as a qualified person pursuant to NI 43-101. As the Vice President of Exploration of the Company, Mr. Arseneau is not considered independent.

About Arena Minerals

Currently Arena Minerals has three properties under option covering approximately 309,230 hectares. All the properties are within the Antofagasta region of Chile, at low altitudes and within producing mining camps. The Company flagship asset is the Atacama Copper Property, consisting of 293,500 hectares of essentially undrilled ground in the heart of Chile's premier copper mining district. The Atacama Copper Property is adjacent to the Capricornio Property, forming part of a contiguous land package that can be worked in conjunction. In addition the Company also has the Pampas El Penon project, comprising a total of 8,650 hectares which is less than 1 km from Yamana's Agusta Victoria project and 10 km from the El Penon mine. On May 11, 2014, the Company reduced its land position with respect to the Pampas El Penon property to 2,400 hectares of worked claims and 6,250 hectares of greenfield claims. The Capricornio property, comprising 7,080 hectares, hosts a district scale gold silver epithermal system virtually unexplored at depth and open on strike. The Pampas El Penon and Capricornio properties comprise Arena Minerals highly prospective gold properties within an active mining region.


On behalf of the Board of Directors of
Arena Minerals Inc.
William Randall
President, and CEO

Cautionary Note Regarding Accuracy and Forward-Looking Information:

This news release may contain forward-looking information within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements, projections and estimates relating to the future development of any of the Company's properties, the results of the exploration program, future financial or operating performance of the Company, its subsidiaries and its projects, the development of and the anticipated timing with respect to the Atacama project, the Capricornio project, and the El Penon project, and the Company's ability to obtain financing. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". The statements made herein are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially because of factors discussed in the management discussion and analysis section of the Company's interim and most recent annual financial statement or other reports and filings with the TSX Venture Exchange and applicable Canadian securities regulations. Estimates underlying the results set out in this news release arise from work conducted by the previous owners and the Company. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to: general business, economic, competitive, geopolitical and social uncertainties; the actual results of current exploration activities; other risks of the mining industry and the risks described in the annual information form of the Company. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward looking information Arena Minerals does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contacts:
William Randall
(416) 309-2697

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
SYS-CON Events announced today that MobiDev, a client-oriented software development company, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place June 6-8, 2017, at the Javits Center in New York City, NY, and the 21st International Cloud Expo®, which will take place October 31-November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. MobiDev is a software company that develops and delivers turn-key mobile apps, websites, web services, and complex softw...
DevOps is being widely accepted (if not fully adopted) as essential in enterprise IT. But as Enterprise DevOps gains maturity, expands scope, and increases velocity, the need for data-driven decisions across teams becomes more acute. DevOps teams in any modern business must wrangle the ‘digital exhaust’ from the delivery toolchain, "pervasive" and "cognitive" computing, APIs and services, mobile devices and applications, the Internet of Things, and now even blockchain. In this power panel at @...
Internet of @ThingsExpo, taking place June 6-8, 2017 at the Javits Center in New York City, New York, is co-located with the 20th International Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. @ThingsExpo New York Call for Papers is now open.
In his session at 19th Cloud Expo, Claude Remillard, Principal Program Manager in Developer Division at Microsoft, contrasted how his team used config as code and immutable patterns for continuous delivery of microservices and apps to the cloud. He showed how the immutable patterns helps developers do away with most of the complexity of config as code-enabling scenarios such as rollback, zero downtime upgrades with far greater simplicity. He also demoed building immutable pipelines in the cloud ...
SYS-CON Events announced today that Catchpoint Systems, Inc., a provider of innovative web and infrastructure monitoring solutions, has been named “Silver Sponsor” of SYS-CON's DevOps Summit at 18th Cloud Expo New York, which will take place June 7-9, 2016, at the Javits Center in New York City, NY. Catchpoint is a leading Digital Performance Analytics company that provides unparalleled insight into customer-critical services to help consistently deliver an amazing customer experience. Designed ...
Web Real-Time Communication APIs have quickly revolutionized what browsers are capable of. In addition to video and audio streams, we can now bi-directionally send arbitrary data over WebRTC's PeerConnection Data Channels. With the advent of Progressive Web Apps and new hardware APIs such as WebBluetooh and WebUSB, we can finally enable users to stitch together the Internet of Things directly from their browsers while communicating privately and securely in a decentralized way.
While many government agencies have embraced the idea of employing cloud computing as a tool for increasing the efficiency and flexibility of IT, many still struggle with large scale adoption. The challenge is mainly attributed to the federated structure of these agencies as well as the immaturity of brokerage and governance tools and models. Initiatives like FedRAMP are a great first step toward solving many of these challenges but there are a lot of unknowns that are yet to be tackled. In hi...
With the proliferation of both SQL and NoSQL databases, organizations can now target specific fit-for-purpose database tools for their different application needs regarding scalability, ease of use, ACID support, etc. Platform as a Service offerings make this even easier now, enabling developers to roll out their own database infrastructure in minutes with minimal management overhead. However, this same amount of flexibility also comes with the challenges of picking the right tool, on the right ...
The cloud market growth today is largely in public clouds. While there is a lot of spend in IT departments in virtualization, these aren’t yet translating into a true “cloud” experience within the enterprise. What is stopping the growth of the “private cloud” market? In his general session at 18th Cloud Expo, Nara Rajagopalan, CEO of Accelerite, explored the challenges in deploying, managing, and getting adoption for a private cloud within an enterprise. What are the key differences between wh...
One of the hottest areas in cloud right now is DRaaS and related offerings. In his session at 16th Cloud Expo, Dale Levesque, Disaster Recovery Product Manager with Windstream's Cloud and Data Center Marketing team, will discuss the benefits of the cloud model, which far outweigh the traditional approach, and how enterprises need to ensure that their needs are properly being met.
WebRTC has had a real tough three or four years, and so have those working with it. Only a few short years ago, the development world were excited about WebRTC and proclaiming how awesome it was. You might have played with the technology a couple of years ago, only to find the extra infrastructure requirements were painful to implement and poorly documented. This probably left a bitter taste in your mouth, especially when things went wrong.
Up until last year, enterprises that were looking into cloud services usually undertook a long-term pilot with one of the large cloud providers, running test and dev workloads in the cloud. With cloud’s transition to mainstream adoption in 2015, and with enterprises migrating more and more workloads into the cloud and in between public and private environments, the single-provider approach must be revisited. In his session at 18th Cloud Expo, Yoav Mor, multi-cloud solution evangelist at Cloudy...
When you focus on a journey from up-close, you look at your own technical and cultural history and how you changed it for the benefit of the customer. This was our starting point: too many integration issues, 13 SWP days and very long cycles. It was evident that in this fast-paced industry we could no longer afford this reality. We needed something that would take us beyond reducing the development lifecycles, CI and Agile methodologies. We made a fundamental difference, even changed our culture...
The proper isolation of resources is essential for multi-tenant environments. The traditional approach to isolate resources is, however, rather heavyweight. In his session at 18th Cloud Expo, Igor Drobiazko, co-founder of elastic.io, drew upon his own experience with operating a Docker container-based infrastructure on a large scale and present a lightweight solution for resource isolation using microservices. He also discussed the implementation of microservices in data and application integrat...
All organizations that did not originate this moment have a pre-existing culture as well as legacy technology and processes that can be more or less amenable to DevOps implementation. That organizational culture is influenced by the personalities and management styles of Executive Management, the wider culture in which the organization is situated, and the personalities of key team members at all levels of the organization. This culture and entrenched interests usually throw a wrench in the work...