Lupaka Gold (LPK.TO) has completed a surface exploration program at its fully owned Crucero project in Peru. North of the A1 zone and between the A8 and A1 zone, the company has found 1.5 meters from 0.02g/t up to 5.49g/t gold in a surface outcrop, which is very interesting as this means the mineralized structure might be larger than thought as it continues towards the northwest.
This could be important, as this sample might indicate there’s a connection between the A1 and A8 zones and it’s not unlikely both zones might actually be continuous. If that’s the case then this could be a potential game changer for the Crucero project, which currently 2 million ounces in a pit-constrained resource estimate, at an average grade of just over 1g/t.
CEO Eric Edwards commented: “The A-1 mineralized envelope pinches in as we trace it to the north and we have always known this from our drilling. We believe that the mineralization will swell again in thickness as we get into A-8, and could form the next resource envelope. It’s common that these orogenic gold deposits occur like beads on a string along the structural controls, and we are looking forward to continue our exploration efforts at Crucero.”
Disclosure: The author holds a long position in Lupaka Gold. Lupaka is a sponsor of the website. Please see our disclaimer for current positions.