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
The explosion of new web/cloud/IoT-based applications and the data they generate are transforming our world right before our eyes. In this rush to adopt these new technologies, organizations are often ignoring fundamental questions concerning who owns the data and failing to ask for permission to conduct invasive surveillance of their customers. Organizations that are not transparent about how their systems gather data telemetry without offering shared data ownership risk product rejection, regu...
Who are you? How do you introduce yourself? Do you use a name, or do you greet a friend by the last four digits of his social security number? Assuming you don’t, why are we content to associate our identity with 10 random digits assigned by our phone company? Identity is an issue that affects everyone, but as individuals we don’t spend a lot of time thinking about it. In his session at @ThingsExpo, Ben Klang, Founder & President of Mojo Lingo, discussed the impact of technology on identity. Sho...
Extreme Computing is the ability to leverage highly performant infrastructure and software to accelerate Big Data, machine learning, HPC, and Enterprise applications. High IOPS Storage, low-latency networks, in-memory databases, GPUs and other parallel accelerators are being used to achieve faster results and help businesses make better decisions. In his session at 18th Cloud Expo, Michael O'Neill, Strategic Business Development at NVIDIA, focused on some of the unique ways extreme computing is...
SYS-CON Media announced today that @WebRTCSummit Blog, the largest WebRTC resource in the world, has been launched. @WebRTCSummit Blog offers top articles, news stories, and blog posts from the world's well-known experts and guarantees better exposure for its authors than any other publication. @WebRTCSummit Blog can be bookmarked ▸ Here @WebRTCSummit conference site can be bookmarked ▸ Here
SYS-CON Events announced today that CA Technologies has been named "Platinum Sponsor" of SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, New York, and 21st International Cloud Expo, which will take place in November in Silicon Valley, California.
You think you know what’s in your data. But do you? Most organizations are now aware of the business intelligence represented by their data. Data science stands to take this to a level you never thought of – literally. The techniques of data science, when used with the capabilities of Big Data technologies, can make connections you had not yet imagined, helping you discover new insights and ask new questions of your data. In his session at @ThingsExpo, Sarbjit Sarkaria, data science team lead ...
In his keynote at @ThingsExpo, Chris Matthieu, Director of IoT Engineering at Citrix and co-founder and CTO of Octoblu, focused on building an IoT platform and company. He provided a behind-the-scenes look at Octoblu’s platform, business, and pivots along the way (including the Citrix acquisition of Octoblu).
Bert Loomis was a visionary. This general session will highlight how Bert Loomis and people like him inspire us to build great things with small inventions. In their general session at 19th Cloud Expo, Harold Hannon, Architect at IBM Bluemix, and Michael O'Neill, Strategic Business Development at Nvidia, discussed the accelerating pace of AI development and how IBM Cloud and NVIDIA are partnering to bring AI capabilities to "every day," on-demand. They also reviewed two "free infrastructure" pr...
SYS-CON Events announced today that Hitrons Solutions will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Hitrons Solutions Inc. is distributor in the North American market for unique products and services of small and medium-size businesses, including cloud services and solutions, SEO marketing platforms, and mobile applications.
WebRTC is about the data channel as much as about video and audio conferencing. However, basically all commercial WebRTC applications have been built with a focus on audio and video. The handling of “data” has been limited to text chat and file download – all other data sharing seems to end with screensharing. What is holding back a more intensive use of peer-to-peer data? In her session at @ThingsExpo, Dr Silvia Pfeiffer, WebRTC Applications Team Lead at National ICT Australia, looked at differ...
With major technology companies and startups seriously embracing IoT strategies, now is the perfect time to attend @ThingsExpo 2016 in New York. Learn what is going on, contribute to the discussions, and ensure that your enterprise is as "IoT-Ready" as it can be! Internet of @ThingsExpo, taking place June 6-8, 2017, at the Javits Center in New York City, New York, is co-located with 20th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry p...
In his session at 20th Cloud Expo, Chris Carter, CEO of Approyo, will discuss the basic set up and solution for an SAP solution in the cloud and what it means to the viability of your company. Chris Carter is CEO of Approyo. He works with business around the globe, to assist them in their journey to the usage of Big Data in the forms of Hadoop (Cloudera and Hortonwork's) and SAP HANA. At Approyo, we support firms who are looking for knowledge to grow through current business process, where even ...
The Internet of Things can drive efficiency for airlines and airports. In their session at @ThingsExpo, Shyam Varan Nath, Principal Architect with GE, and Sudip Majumder, senior director of development at Oracle, discussed the technical details of the connected airline baggage and related social media solutions. These IoT applications will enhance travelers' journey experience and drive efficiency for the airlines and the airports.
Addteq is one of the top 10 Platinum Atlassian Experts who specialize in DevOps, custom and continuous integration, automation, plugin development, and consulting for midsize and global firms. Addteq firmly believes that automation is essential for successful software releases. Addteq centers its products and services around this fundamentally unique approach to delivering complete software release management solutions. With a combination of Addteq's services and our extensive list of partners,...
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.