BOLIVAR
[Exploration]
TThe Bolivar property hosts multiple prospects and exploration targets within a large footprint of alteration and mineralization stretching for four kilometres that has yet to be thoroughly explored. The Bolivar deposit and the recently discovered South Bolivar target are related to a single copper-porphyry skarn and breccia-pipe mineralized system. This indicates potential for additional discoveries beyond known deposits and prospects at Bolivar.
Work during 2006 revealed that two mineralized skarn horizons occur within the overall skarn-hornfels section. The upper skarn hosts the high-grade copper-zinc mineralization, such as at the Bolivar mine, El Gallo and El Val. The lower skarn horizon hosts the copper-iron mineralization that was earlier termed the “South Bolivar-type” mineralization. Both skarn horizons have been mapped from the Bolivar mine to southeast of La Montura, a distance of over 2.5 km. Most of this trend has not been explored in detail or been drilled.
The exploration group drilled favorable Upper and Lower Skarn Horizons and significantly increase our resource base in view of increasing the mine life of our flagship Bolivar mine.
The mineralized zone within the resources of the Lower Skarn shown above is open laterally, and drilling directed at extending the known mineralized zone will continue. The best hole in the Lower Skarn of the El Gallo area is hole DB07B225, which intersected 69.4 metres (true width) of 1.2% Cu (see press release of January 21, 2008), which indicated that the zone is open along strike and down dip to the Southeast.
Bolivar 2008 Exploration Program
A budget of US$2.5 million is forecast in 2008 and exploration efforts will be focused in three areas with the view to accelerate the feasibility study.
Bolivar Mine Alta Ley
Drilling will be focused on increasing the measured and indicated resources at the Bolivar Alta Ley, especially within the Titanic and Selena massive sulphide lenses, and along the Fernandez Trend. 10,000 metres of core diamond drilling (surface and underground) are planned in this area.
Bolivar – El Gallo
A further 5,000 metres of drilling are planned in this area to: 1) allow upgrading some of the Inferred Resource of the El Gallo Lower Skarn to Measured and Indicated; and 2) further increase the total tonnage of the Upper and Lower Skarn Horizons of this prospect.
Bolivar - Exploration drilling
An exploration drilling program of 5,000 metres will allow the Company to demonstrate the bulk volume potential of the Bolivar property. This drilling will be dedicated to evaluate the strike extension of the favorable Upper and Lower skarn horizons over 2,000 metres of strike length along the El Val – La Montura trend where 32.5 metres averaging 4.26% Zn have been intersected at La Narizona prospect.
Exploration Potential
On-going exploration by Dia Bras continues to extend known zones of copper, zinc, silver and gold mineralization along the strike of the Fernandez Trend, near the Bolivar Mine, as well as in other areas of the property, which encompasses some 75 km2.
The Company's exploration efforts are guided by reports commissioned to assess the property's potential. Bolivar is a district-scale property considered prospective for new discoveries, including bulk-tonnage copper-skarn deposits, as confirmed by recent technical reports and field visits by Prof. Lawrence D. Meinert.