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Abacus Defines New Drill Target at Willow in Nevada
VANCOUVER, British Columbia, Feb. 26, 2018 (GLOBE NEWSWIRE) -- Abacus Mining & Exploration Corporation (“Abacus” or the “Company”) (TSXV:AME) is pleased to prov
About this update from Abacus Mining & Exploration Corp.
[{"type":"text","content":" VANCOUVER, British Columbia, Feb. 26, 2018 (GLOBE NEWSWIRE) -- Abacus Mining & Exploration Corporation (“Abacus” or the “Company”) (TSXV:AME) is pleased to provide details on a compelling new porphyry copper target that has been identified on the Company’s Willow and adjacent Nev-Lorraine properties in the Yerington, Nevada copper camp. The target area covers a 2.0 km by 2.2 km portion of the southernmost of two broad alteration zones delineated by detailed geological mapping in 2017. It is defined by coincident geological, geochemical and geophysical signatures typical of a porphyry copper deposit, each element of which is described in more detail below. The porphyry copper target straddles the Willow and newly acquired Nev-Lorraine properties, with the bulk of the target on Willow. The Company plans to commence a minimum 2500 metre diamond drill program to test this target as soon as weather permits. The southernmost alteration zone is a 3.0 km by 2.5 km funnel-shaped, east-west trending zone, which is characterized by intense silicic and advanced argillic alteration, a high proportion of granite porphyry dyke swarms, and frequent quartz veining. All these elements are stronger to the east, which along with a very strong copper in soils anomaly, helps to define the new target zone. The target is constrained along the eastern property boundary by a range front fault, which down drops rocks to the east, and to the west by changes in the geochemical and geophysical signatures. Geophysically, the target is characterized by a coincident IP chargeability high, and a magnetic high flanked by a magnetic low. The magnetic high is restricted to the eastern edge of the target area, and part of it is likely faulted off to the east by the range front fault. It is flanked to the west by a much broader magnetic low, thought to represent strongly hydrothermally altered rocks. A prominent IP anomaly straddles the Willow/Nev-Lorraine property boundary within the broad magnetic low and is thought to represent sulphide mineralization. The magnetic high on Willow lines up to the southeast with Mason Resources’ Roulette target, drilled in the past as a buried copper porphyry target, and with a series of skarn deposits further to the southeast. The new Willow target is analogous to the adjacent Ann Mason deposit to the east but is thought to re...