Ica I.O.C.G. Project
Project Summary
Location: The Ica iron oxide copper-gold (I.O.C.G.) Project is located at less than 2,000m elevation along the Pan-American highway, 45 km southeast of Ica and 300 km southeast from Lima Concession Area: 6 concessions totaling 2,198 hectares Ownership: 100% Winshear, subject to NSR royalty Target Geology: Coastal Iron Ore Copper Gold Belt. Multiple quartz-magnetite-pyrite-chalcopyrite +/- tourmaline +/- potassium feldspar veins and veinlets. Abundant artisanal workings on veins in concession, and a small-scale copper-gold mine is in production on nearby third party concession Status: Winshear recently completed a one-month reconnaissance geochemical and mapping program at the Ica project, the first work on this project since its acquisition from Palamina. Results show a group of +/- 1 m wide magnetite-pyrite-chalcopyrite+/- potassium feldspar+/-tourmaline veins up to several hundred meters long (Figure 1,2). These veins commonly are oxidized at the surface, but contain fresh sulfide minerals just a few meters below the surface. Values up to 6.09% copper and 2.6 grams/tonne gold demonstrate that veins with potentially economic grades of copper and gold exist on the property. Winshear plans a ground geomagnetic survey to determine whether these veins may widen or coalesce at depth, which could form the basis for a compelling new target
Highlights- Excellent infrastructure: The Ica iron oxide copper-gold (I.O.C.G.) Project is located at less than 2,000m elevation along the Pan-American highway, 45 km southeast of Ica and 300 km southeast from Lima. Excellent road access from the departmental capital city of Ica.
- Located in the coastal I.O.C.G. belt of southern Peru
- Sampling by Palamina returned gold values ranging from 0.006 g/t Au to 0.745 g/t Au & Cu values ranging from 0.013% Cu to 0.562% Cu.
Background
In September 2019, Winshear acquired a 100% interest, subject to a 2% NSR, in the Ica IOCG and Gaban Gold Project in Peru from Palamina Corp. through the issuance of 10,000,000 common shares of Winshear (see news release here).
Work done to date
Historic soil and rock sampling along with a geophysical IP survey identified an IP anomaly in a known mineralized area. Tinka Resources completed six shallow drill holes to test near-surface mineralization. Recent sampling by Palamina returned gold values ranging from 0.006 g/t Au to 0.745 g/t Au & Cu values ranging from 0.013% Cu to 0.562% Cu.
Figure 1 - locations and copper assays of Ica reconnaissance samples
Figure 2 - locations and gold assays of Ica reconnaissance samples
