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BAMBAS WEST (LINCE)
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Latest Information July 31, 2002 A first-phase diamond drilling program was started at the Lince project; pitting results are very encouraging and indicate zinc grades typically increase two to 10 times between oxide and sulphide zones. At Puca Puca, zinc values vary from 2% to 10% zinc and in places massive sphalerite (zinc sulphide) was encountered returning assays of 23.1%, 19.7% and 42.5% zinc. A total of 12 holes is planned for the first phase of drilling. The Lince skarn system represents one of the largest systems of this type identified in Peru.  July 18, 2002 Southwestern has commenced a first-phase diamond drilling program at the Lince project on its Bambas West property in Peru; a total of 12 holes is planned. The Lince project area is underlain by several skarn mineralized systems, the largest being Puca Puca where the first drilling is located. Puca Puca has been traced for over 1,000 m in length, 250 m in width, and downdip for about 1,000 m. February 28, 2002 Results of the latest exploration program indicate that the Minasccasa and Lince properties contain extensive skarntype zinc-copper mineralization hosted within the Copacabana limestones. Positive results from recent intensive rock chip sampling, trenching and mapping programs have indicated that Minasccasa and Lince are associated with large mineralizing systems. Coincident ground geophysical surveys and shallow drilling will be completed followed by a deeper drilling program. The joint venture partners have agreed to initiate this program immediately. A total of 100 channel samples has been collected at Minasccasa both within leached and/or oxidized material, and from areas containing fresh sulphides. Vertical channels from oxidized to sulphide material indicate that both zinc and copper are leached in the surface environment. Five-metre channel sample results in the lower zone within sulphide material include 1.06 per cent copper and 7.6 per cent zinc, 1.21 per cent copper and 0.6 per cent zinc, and 1.72 per cent copper and 1.1 per cent zinc. On the Lince property, To date 425 rock chip, channel and trench samples. In the southern portion of the property in the Puca-Puca zone, magnetite-garnet skarn mineralization/alteration extends in a northwest/southeast direction for about 1,000 metres and is up to 250 metres wide. In several places where trenches were excavated it is clear that zinc is being leached in the surface environment. It is not known if this leaching is consistent throughout the area. Trenching and shallow drilling are planned to determine if leaching is widespread. |
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