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ProspectsSan Gerardo - EcuadorPanTerra Gold holds an option until 20 November 2013 to purchase a 2200ha concession in southern Ecuador which is located at the centre of a proven gold province hosting reported resources (measured, indicated and inferred) to Canadian NI43-101 standard of over 15 million oz of gold.
Consultants have identified five areas of mineralised hydrothermal breccias and a significant area of copper, molybdenum, gold mineralisation (the Victoria target), as open pit mining prospects. Soil sampling over 1000ha of the concession has been completed, with magnetometer surveys carried out in Q4 2011 which better defined drilling targets. Drilling is scheduled to commence on the 140 ha Victoria target in Q1 2012. Exploration could result in the identification of prospects of sufficient size and grade to justify the development of open pit mining operations to produce around 100,000 to 150,000 oz gold equivalent/year. The same concession covers the seven small-scale underground mines making up the Azuay project. San Gerardo Project Report - Preliminary Soil and Rock Geochemistry San Gerardo Project - Results from Geophysical Survey, December 2011
Dominican RepublicPanTerra Gold has completed the acquisiton of Vancouver based Novus Gold Corp (TSX-V: "NOV") by the issue of 18,412,632 PGI shares to Novus Gold shareholders (1 for 3). PanTerra Gold has in effect acquiried two exploration concessions in the Dominican Republic hed by a wholly-owned subsidiary of Novus Gold: La Yagua and La Paciencia. La YaguaThe 9900ha concession adjoins those hosting Perilya's Cerro de Maimon copper-gold mine. The first identified exploration target is along strike from the mine and a rock sampling program in 2009 produced results ranging from 0.5% to 22.0 % Cu over a 10km length. Within the concession, elevated copper, gold, and silver results from soil geochemistry, and rock and stream sampling, have identified high grade mineralised zones with almost property-wide potential. The best grab sample to date resulted in an assay of 18% Cu, 13g/t Au, and 29g/t Ag. A 20 hole drilling program of the first target ie expected to commence in Q4 2012 following geophysuical surveys to establish drilling locations. La Yagua Property Geologic Report 27 May 2011 La PacienciaThe 8600ha concession is located 10km east and along strike from the Pueblo Viejo gold deposit (+27 million oz) being developed by Barrick/Goldcorp, and is underlain by the same geology in the Los Ranchos formation as Pueblo Viejo. Prospecting to date has discovered elevated gold values along structural lineaments and initial exploration in 2012 will focus on soil sampling and geophysics to identify drill targets. Any resource is likely to be predominantly refractory and amenable to treatment through PanTerra Gold's Las Lagunas process plant. FuertePanTerra Gold has applied for a 10,800ha copper/gold exploration licence near Bahoruco in south-west Dominican Republic with copper and gold mineralisation evident over a length of 5km. Soil and stream sampling will commence be undertaken in 2012 following approval of the application.
Trujillo - PeruPanTerra Gold is investigating the feasibility of constructing a commercial Albion/CIL process plant in northern Peru which could treat sulphide concentrates from operations in the surrounding region. Initial capacity will be aimed at 100,000 oz gold per year. If it proceeds, the project will be developed on a 500 ha desert site 30km to the south east of Trujillo, the regional capital of La Libertad. The location was chosen on land which is unsuitable for agricultural purposes, due to its proximity to potential concentrate sources in the bordering Andes, direct access to the Pan American highway, low cost grid power, and availability of water from a major irrigation canal within 2km of the site. PanTerra Gold has identified, but not yet secured, a number of mines within economic trucking distance for concentrates, which have depleted oxide resources but with underlying refractory ore which could be a source of feed to the proposed plant. The desert site would significantly reduce costs and management issues associated with tailings storage, which is a major problem for Andean mines. The centralised site would also eliminate cyanide use in the mountains because mines supplying feed for the process plant would only produce a concentrate through flotation after crushing and grinding ore, which would be trucked to the proposed plant site. The Trujillo project is a low priority for the Companty but environmental approvals will be progressed in 2012, with ongoing negotiations on potential sources of feed. PhotosClick on each image to see a larger view:
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