Drilling

Results

 - Drilling

 (last update 11/09/2009)

Introduction

To-date, there have been a total of 33.015.47 metres of  drilling completed in 78 drill holes at the Rio Grande project (Figure 1 and Table 1). The location and collar information of each hole is presented in Table 1. All of the significant drill hole intercepts (using a 0.2% CuT cut-off) are reported in Table 2.

 Figure 1: Rio Grande project drill hole location map.

Table 1: Rio Grande drill hole collar information.

Table 2: All the Rio Grande significant drill hole intercepts (2000-2008).

2008 Drilling Campaign

In 2008, Antares Minerals completed a total of 15 drill holes for 8,406.90 m (Figure 1 and Table 3). A total of 4,713 samples were sent to ALS Chemex for geochemical analysis. The significant intersections from these drill holes are listed in Table 1. The purpose of the 2008 drill campaign was to follow-up on the encouraging results obtained from the 2007 drill campaign.

Table 3: 2008 Rio Grande significant drill hole intercepts.

Three holes were drilled at the northern end of the Sofia Zone as 75 m offsets to higher grade copper gold mineralization previously encountered in RGA-08-034 (189 m with 0.70% Cu, 0.67 g/t Au and 11.1 g/t Ag). All three holes intersected zones of higher grade copper gold mineralization and confirm the presence and continuity of this style of mineralization at the northern end of the Sofia Zone. Drill hole RGA-08-065 (146 m with 0.60% Cu, 0.57 g/t Au and 7.2 g/t Ag; including 73 m with 0.87% Cu, 0.85 g/t Au and 8.5 g/t Ag, which in turn includes which includes 46.4 m with 1.16% Cu, 1.18 g/t Au and 10.4 g/t Ag) is located 75 m to the north of drill hole RGA-07-034. Drill hole RGA-08-064 (114 m with 0.56% Cu, 0.58 g/t Au and 10.6 g/t Ag; including 62 m with 0.79% Cu, 0.85 g/t Au and 15.9 g/t Ag, which turn includes 28 m with 1.10% Cu, 1.22 g/t Au and 20.6 g/t Ag) is located 75 m to the south of drill hole RGA-07-034. Drill hole RGA-08-063 (65 m with 0.49% Cu, 0.35 g/t Au and 6.0 g/t Ag; including 19.6 m with 0.88% Cu, 0.82 g/t Au and 13.6 g/t Ag) is located 75 m to the west of, and below, drill hole RGA-07-034.

All three of these holes encountered a complex sequence of intermediate composition dikes and subvolcanic intrusive rocks with variable degrees of potassic, calcic, and propylitic alteration and local late- to post-mineral dikes of intermediate composition. At approximately 400 m depth, each of the holes began to encounter intervals of sedimentary red-bed sandstones, which form the wall rocks to the Rio Grande intrusive center. The sedimentary rocks are cut by numerous subvolcanic dikes. All three holes intersected the Sofia mineralization zone which is a steeply dipping (-70°) tabular zone that strikes due north in this area. The better mineralized portion of the Sofia Zone has a strike length of approximately 450 m, an average true width of approximately 90 m and has been intercepted at up to 500 m down dip. Copper-gold mineralization in RGA-08-064 and RGA-08-065 consists of predominantly oxide minerals with only minor traces of chalcopyrite present. Mineralization in the deeper RGA-08-063 is only weakly oxidized and contains mostly chalcopyrite with pyrite and magnetite.

A deeper and distinctly separate zone of molybdenum mineralization was encountered in both drill hole RGA-08-063 (48.5 m with 0.064% Mo) and drill hole RGA-08-065 (31 m with 0.027% Mo). Several other holes in the vicinity of these two holes have returned similar molybdenum intercepts (e.g., RGA-07-049 with 54.4 m of 0.10% Mo).
A number of step-out holes were drilled in the Discovery, North, and #7 zones from previously identified mineralization in these areas. All these holes intersected zones of significant grade copper-gold mineralization and confirm the presence and continuity of mineralization in the Discovery and North zones. Most of the step-outs were 75 to 100 m from the previously completed drill holes at the Discovery, North, and #7 zones. The holes were drilled at inclinations of -60° to -70° to traverse the defined zones of mineralization, and are aligned to form drill fences spaced at 75-100 m intervals along the strike of the mineralized bodies.

The holes intersected a complex sequence of intermediate composition dikes and subvolcanic intrusive rocks with variable degrees of potassic, calcic, and propylitic alteration and local late- to post-mineral dikes of intermediate composition. Copper-gold mineralization encountered in these holes consisted of predominantly oxide minerals, with only traces of chalcopyrite present at the upper levels and increasing amounts of partially oxidized chalcopyrite deeper in the holes. The deepest intercepts (typically below 400 m depth) consisted of chalcopyrite-magnetite-pyrite. The level of complete to partial oxidation in the North and #7 zones varies from 360-460 m deep and in Discovery Zone (which occurs at a lower elevation) varies from 200-400 m deep.

Copper-gold mineralization encountered in the holes in the Discovery and North zones was of similar grades and thicknesses to previous holes in these areas. Drilling at the #7 Zone intersected copper-gold mineralization, but of lower-grade than that encountered in the limited previous drilling in this area. Additional drilling will be warranted to further characterize the #7 Zone and the connection to the northeast to the North Zone.

Drill holes RGA-08-066 (111.00 m with 0.39% Cu, 0.39 g/t Au and 5.4 g/t Ag; including includes 17 m with 0.55% Cu, 0.68 g/t Au and 6.5 g/t Ag), RGA-08-069 (166.50 m with 0.35% Cu, 0.44 g/t Au and 5.6 g/t Ag; including 29.55 m with 0.63% Cu, 0.79 g/t Au and 12.1 g/t Ag), and RGA-08-073 (58.50 m with 0.54% Cu, 0.59 g/t Au and 7.3 g/t Ag; including 15.5 m with 0.75% Cu, 0.97 g/t Au and 7.3 g/t Ag) were all drilled into the North Zone to provide sufficient drill density to prepare a interim inferred resource calculation.

Drill holes RGA-08-074 (44.00 m with 0.68% Cu, 0.75 g/t Au and 6.4 g/t Ag), RGA-08-076 (58 m with 0.28% Cu. 0.33 g/t Au, and 2.4 g/t Ag), and RGA-08-077 (69.00 m with 0.43% Cu, 0.57 g/t Au and 4.2 g/t Ag; including 25.00 m with 0.62% Cu, 0.83 g/t Au and 7.6 g/t Ag) were both drilled to follow-up on the encouraging results obtained in drill hole RGA-07-040 (102.80 m with 0.58% Cu, 0.75 g/t Au, and 13.1 g/t Ag; including 25.20 m grading 1.37% Cu, 1.89 g/t Au, and 18.0 g/t Ag).

2007 Drilling Campaign

The results and significance intercepts for all the drill holes from the 2007 drill campaign are shown in Table 4).

Table 4: 2007 Rio Grande Significant Drill Hole Intercepts.

The following drill holes were designed to test for the down-dip projection of higher-grade mineralization encounter in 2006 at the Sofia Zone with drill holes RGA-06-026 and RGA-06-024. The best intersection drilled during the 2007 drill campaign and the best hole for the Rio Grande project at the time was drill hole RGA-07-034 which intersected a 189 m interval with 0.70% Cu and 0.67 g/t Au commencing at a depth of 140 m. The hole is located immediately to the northwest of the two previous best holes; RGA-06-026, located 150 m to the south (158 m with 0.46% Cu and 0.51 g/t Au) and RGA-06-024, located 180 m to the southeast (128 m with 0.47% Cu and 0.71 g/t Au). The mineralization in RGA-07-034 was encountered at a shallower depth than anticipated at the time remained open to the west and north. Drill hole RGA-07-030 was drilled to the west of RGA-06-26 to test for the down dip extension of mineralization and encountered narrower zones of mineralization with higher grades (17 m with 0.69% Cu and 0.94 g/t Au).

Drill holes RGA-07-049 and RGA-07-050 were drilled at the northern end of the Sofia Zone, approximately 150 m to the northeast of well-mineralized hole RGA-07-034. The holes were drilled from the same pad but at 90° to each other to help identify potential structural trends. Both holes encountered significant copper-gold mineralization; with hole RGA-07-050 hosting an interval of 111.15 m with 0.42% Cu and 0.41 g/t Au, which includes a sub-interval of 24.90 m with 0.64% Cu and 0.79 g/t Au. Further drilling will be warranted to see how this interval connects with mineralization encountered in RGA-07-034 (189 m with 0.70% Cu and 0.67 g/t Au). RGA-07-049 also hosts a 54.40 m interval containing 0.10% Mo with little Cu or Au. Molybdenite values are associated with the KMPi intrusive rock unit. This occurrence is not well understood, but warrants further investigation. Holes RGA-07-052 and -054 were drilled in the gap between the Sofia and North Zones and only encountered narrow zones of low- to moderate-grade copper-gold mineralization.

Drill hole RGA-07-060 was drilled at the northern end of the Sofia Zone at a distance of approximately 150 m to the north of RGA-07-034 (189 m with 0.70% Cu and 0.67 g/t Au) and 100 m to the west of RGA-07-049. The hole intersected an interval of 106.55 m with 0.42% Cu and 0.33 g/t Au and a separate lower interval of 56 m with 0.033% Mo (from 400-456 m with primary sulphides).

Drill hole RGA-07-057 was drilled nearby in the gap between the Sofia and North zones and encountered several narrower zones of lower-grade copper-gold mineralization, but also intersected a spatially distinct zone of molybdenum mineralization (83.40 m with 0.054% Mo from 107.0-190.4 m depth, oxidized, including a narrow high-grade interval of 6 m grading 0.334% Mo). Several other holes in this vicinity of these two holes have returned similar molybdenum intercepts (RGA-07-049 with 54.4 m of 0.10% Mo for example).

The following holes were completed in the Discovery Zone and were primarily drilled to test for extensions of mineralization to depth and along strike. They complete a series of ten (10) drill sections located at approximately 150 m intervals along the 1500 m strike length of the combined zones. Each section contains a fan of two to three drill holes. These drill holes confirmed that mineralization at the Sofia-Discovery zone occurs as an accurate zone that dips steeply to the west and northwest (~70°) towards the center of the Rio Grande system with a true width of approximately 80-150 m. The reported mineralized intervals represent down-hole lengths and not true thicknesses. However, all holes are drilled to the east or south at angles of minus 60-80° to intersect the mineralized zones at relatively high angles.

Drill holes RGA-07-029 and RGA-07-031 were drilled to infill the previously untested area between the Sofia and Discovery zones. Both these holes intersected narrower zones of low-grade copper-gold mineralization and demonstrated that the Sofia and Discovery zones are in fact connected. Drill-hole RGA-07-032 was collared to test for the down dip extension of mineralization in the Discovery zone. The hole intersected numerous 5-30 m wide intervals of moderate-grade copper-gold mineralization over a length of several hundred metres. Drill-hole RGA-07-032A is a twin-hole of previously drilled RGA-07-032, located in the Discovery Zone, with results within the range of expected geological variation.

RGA-07-033, RGA-07-035, and RGA-07-037 were all drilled to test for a south-westward extension of the Discovery Zone. All of the holes encountered multiple narrow zones of copper-gold mineralization, but generally suggested that the Discovery Zone is terminating to the southwest.

Drill holes RGA-07-036 (-70°) and RGA-039 (-60°) were drilled to complete a drill fence within the central portion of the Discovery Zone. The holes each intersected lengthy intervals of low- to moderate-grade copper-gold mineralization. Drill hole RGA-07-038 (-70°) was completed as a test for mineralization at depth beneath the Sofia zone. The hole encountered a narrow zone of higher-grade copper-gold mineralization suggesting that the system may become thinner and higher-grade with depth in this area (7 m with 0.76% Cu and 0.99 g/t Au).

Drill holes RGA-07-040 (-75°) and RGA-07-041 (-60°) were drilled to complete drill sections at the northern end of the Discovery Zone in the vicinity of several previous drill holes and trenches with better grades. RGA-07-040 intersected 102.80 m with 0.58% Cu, 0.75 g/t Au, and 13.1 g/t Ag; which included a zone of 25.20 m grading 1.37% Cu, 1.89 g/t Au, and 18.0 g/t Ag. This high-grade zone is likely a feeder to the more extensive areas of lower-grade mineralization in the area. RGA-07-041 encountered a 26.00 m interval with 0.47% Cu and 0.73 g/t Au, within an envelope of lower-grade material. Previous trench and drill hole results from the vicinity of RGA-07-040 include the following intercepts: RGA-05-012: 86 m with 0.45% Cu and 0.66 g/t Au, Trench-1: 97 m with 0.57% Cu and 0.97 g/t Au, and Trench-2: 30 m with 0.74% Cu and 1.19 g/t Au. This area is emerging as a potential center of higher-grades.

Drill-hole RGA-07-044 was drilled to complete the deeper hole of a drill fence at the southern end of the Discovery zone. Mineralization encountered deep in this hole is thinner and lower-grade than elsewhere in the Discovery zone, possibly indicating that the zone is beginning to terminate to the southwest.

Drill holes RGA-07-042 (-50°), RGA-07-043 (-50°) and RGA-07-048 (-60°), all drilled to the south, were the first drill holes to test the copper and gold soil anomaly that defines the North Zone of Rio Grande. Two of the three holes encountered significant intervals of copper-gold-silver mineralization (RGA-07-043: 151 m with 0.40% Cu, 0.46 g/t Au, and 12.4 g/t Ag from surface and RGA-07-048: 152 m with 0.44% Cu and 0.41 g/t Au which includes a zone of 60 m with 0.54% Cu and 0.53 g/t Au). The mineralization in RGA-07-048 is within a very extensive zone of lower average grade (428 m with 0.30% Cu and 0.29 g/t Au).

Drill-holes RGA-07-045, -046, -047, and -055 were all drilled into the North Zone on a series of north-south drill sections, located approximately 150 m apart. Holes RGA-07-045 and -046 both encountered long runs of moderate-grade copper-gold mineralization near previously reported mineralization in RGA- 07-043 and -048. The majority of these holes were drilled to the south but RGA-07-046 was drilled to the north to form a scissor pair with drill hole RGA-07-043. This pair of holes indicates that the east-west striking zone of mineralization most likely has a sub-vertical dip.

These initial drill holes into the North Zone did not constrain the geometry of the mineralization, but the results warranted further drilling in the area. The mineralization encountered in the lower portions of these initial drill holes consisted of primary sulphides of chalcopyrite and pyrite associated with extensive and locally pervasive replacement of the intermediate intrusive host rocks by diopside and coarse secondary biotite. Grades locally exceeded 1% Cu and 1 g/t Au.

Drill holes RGA-07-051, -053, and -056 were the first holes put into the #7 zone and are spaced approximately 400 m apart in this poorly exposed and under-explored portion of the Rio Grande prospect. This area has thicker colluvium cover than most of the project area. This means there is little outcrop and therefore soil sampling is not very effective. Holes RGA-07-051 and -053 encountered no significant mineralized intervals and may have been drilled too far to the east to intersect the favourable mineralized structure. Hole RGA-07-056 was drilled farther to the west and entered almost immediately into well mineralized rock including an interval of 134.50 m with 0.53% Cu and 0.65 g/t Au with a sub-interval of 48 m with 0.82% Cu and 1.28 g/t Au. This sub-interval has very consistent gold grades ranging from 1-2 g/t Au with a maximum individual assay value of 2.32 g/t Au. Mineralization remains open to the north, south and most likely to the west, as well as to depth. As typical for most mineralized intervals encountered to-date at Rio Grande, the mineralization has been partially to completely oxidized, with little secondary transport of secondary copper mineralization.

Drill holes RGA-07-058 and RGA-07-059 were drilled into the #7 Zone along as step-outs from the encouraging intercept previously reported from RGA-07-056 (134.5 m with 0.53% Cu, 0.65 g/t Au, 8.9 g/t Ag). RGA-07-058 (161.02 m with 0.34% Cu, 0.32 g/t Au, and 3.2 g/t Ag; including .50 m with 0.65% Cu, 0.72 g/t Au, and 5.2 g/t Ag) is located 250 m south of RGA-07-056. RGA-07-059 (36.80 m with 0.54% Cu, 0.54 g/t Au, and 7.7 g/t Ag; including 9.80 m with 1.07% Cu, 1.15 g/t Au, and 19.5 g/t Ag) is located 200 m north of RGA-07-056, within a broad zone of lower-grade mineralization. Both holes intersected encouraging mineralization starting from near-surface.
Drill hole RGA-07-61 was collared in the Southwest Zone, but was lost at 97 m depth due to mechanical failure of the drill rig prior to reaching the target depth. The hole was not re-drilled.

Drill hole RGA-07-062 was completed as the first hole to test the NE Target, an area located approximately 1.5 km to the northeast of the principal Rio Grande project The NE target is characterized by a discrete gold-in-soil anomaly that is coincident with IP chargeability and resistivity anomalies. Although the hole did not intersect ore grades there are several lengthy zones of highly anomalous gold-copper-zinc mineralization that warrant additional investigation. In addition to the significantly anomalous gold and copper intervals, there is a 194 m intercept of 0.23% Zn from 128-322 m depth in the hole. The zinc mineralization is consistent throughout the interval with a maximum value of 0.7% Zn. All mineralization in the hole has been affected by supergene oxidation.

Previous Drilling Campaigns (2001-2006)

From 2001 to 2006, Teck Corporation and Antares Minerals completed a number of drill holes (Figure 1 and Table 1). The collar information for each of these holes is listed in Table 2. All of the significant intersections from these earlier drill holes are listed in a series of tables according to the year (Tables 5 to 7).

Table 5: 2006 Rio Grande significant drill hole intercepts.

Table 6: 2005 Rio Grande significant drill hole intercepts.

Table 7: 2001 Rio Grande significant drill hole intercepts.

Significant Drill Intercepts by Mineralized Zone

The following tables list the significant drill hole intercepts for the four (4) main mineralized zones at Rio Grande. CLICK on the links below to see each of these tables (Tables 8 to 11).

Table 8: Discovery Zone significant drill hole intercepts.

Table 9: Sofia Zone significant drill hole intercepts.

Table 10: North Zone significant drill hole intercepts.

Table 11: #7 Zone significant drill hole intercepts.