Flamenco Gold Project is a 1.835 hectares mining property located in the heart of the world-renown Atacama fault System in Chile, 100 kilometers west of Copiapo and 950 kilometers north of Santiago, the capital.
Flamenco Gold is located west of the Atacama Fault system, a major north-south regional structure, which was instrumental in the creation of the ore deposits in the area making it one of the most prolific gold and copper mining region in the world.
Mining Region
Located in the heart of the renowned Atacama Fault System in Chile, the Flamenco Gold Project is surrounded by major mining operations and projects within a 100 km radius.
Mantoverde
25 kilometers east of Flamenco is the Mantoverde mine, owned by the Japanese Mitsubishi group, recently announced their Mantoverde-Santo Domingo District (Capstone)Integration Plan targeting over 200,000 tons of fine copper production and 50,000 Oz of gold per year from 2023 to 2030.
El Zorro
20 kilometers north of Flamenco our closest neighbor is The El Zorro Project, owned by the Australian Tesoro Resources (ASX: TSO), is located 20 km south of Flamenco and recently announced a gold discovery of 1.1 Moz in its Ternera District with projections to reach 2 Moz. by 2023-2024. This discovery was validated by an investment from Goldfields (JSE, NYSE: GFI).
Tesoro Resources has also identified a north-south trending corridor more than 50 km long and up to 15 km wide at the Animas Viejas Target, 35 kilometers from their gold deposit and 15 kilometers north of Flamenco, which contains widespread outcrop gold mineralization.
Geology
The Flamenco Project presents a mineralization typical of an IOCG system. Copper-gold-iron-silver-cobalt minerals are present in breccias, veins, and mantos alteration and are rich in magnetite and specularite. Red hematite has been confirmed through the ferrous index, iron oxides, and surface magnetite. Veins, veinlets, and stockwork of quartz and carbonate, leached sulfides and hydrothermal alteration zones with hematite-sericite-carbonate-quartz in the box rocks of the Chañaral Metamorphic Complex all indicate an IOCG model, which has been successfully applied to various Chilean deposits and provides insight into the potential of the Flamenco project.
IOCG model defined by Hirtzman 1992 postulated for the Flamenco Project.
The Flamenco Project is a Hydrothermal Alteration Zone (HAZ) with quartz-h structures hematite veins and veins located in the contact area between the Chañaral Metamorphic Complex and Jurassic intrusives (Flamenco Intrusive and Relincho Intrusive). This region is characterized by an intense hydrothermal alteration of the rocks in contact with the intrusives, which increases the potential for gold mineralization. Therefore, the gold potential of the Flamenco Project is very attractive and should be evaluated in the following exploration campaigns.
Map of Hydrothermal Alteration Zone containing corridor with Quartz Veins.
Geological Framework
The local geological framework shows that within the project the Chañaral Metamorphic Complex emerges, which covers 80% of the outcrops and the Flamenco Intrusive covers 20% of the outcrops.
District geological map in which the Flamenco Project is located.
Map of recognized structures in the Flamenco Project (blue lines).
Detail of phyllites and slates with recrystallization and alteration of silica-quartz-
limonite veinlets in the Chañaral Metamorphic Complex.
Outcrops of the Chañaral Metamorphic Complex within the Flamenco Project.
The quartz veins are presented with thicknesses ranging from 10 cm to 20 meters, internally they present another hydrothermal event with two phases of quartz crystallization, in which milky white sinuous quartz veins and direct quartz veins are recognized crystalline.
Quartz veinlets and quartz warp with limonite and carbonate with brecciation of the box rock.
The exploration campaign results were very positive since a 30-hectare Hydrothermal Alteration Zone was recognized and described, which can become a Gold deposit similar to the neighboring El Zorro Project of the Australian company Tesoro Resources. In addition, many sectors remained unexplored, which fuels the expectation of finding other alteration zones that may be even larger than the Alteration Zone analyzed in the geological study.
Exploration Strategy
The Flamenco Project exploration strategy is based on an exploration of the 30-hectare Hydrothermal Alteration Zone detailed in the geological study. Exploration works will include the systematic collection and analysis of samples taken from the alteration zones, including mapping, trenching, geophysical surveys, drilling, sampling, and evaluation.
The results of the exploration works are expected to be used to refine the geological model of the area, identify additional mineralization zones, and assess the economic potential of the entire project.
Mapping area in the Hydrothermal Alteration Zone and the location of the trenches to perform detailed geochemistry in each of the quartz-Limonite veins.
Minera Los Apires 