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Abacus Provides Field Program Update at Willow Porphyry Copper-Gold Property in Nevada
VANCOUVER, Aug. 17, 2017 (GLOBE NEWSWIRE) -- Abacus Mining & Exploration Corporation (“Abacus” or the “Company”) (TSXV:AME) is pleased to provide an update of e
About this update from Abacus Mining & Exploration Corp.
[{"type":"text","content":"VANCOUVER, Aug. 17, 2017 (GLOBE NEWSWIRE) -- Abacus Mining & Exploration Corporation (“Abacus” or the “Company”) (TSXV:AME) is pleased to provide an update of exploration activities on the Willow porphyry copper-gold property in Douglas County, Nevada, USA (the “Property”). The Property is subject to an option agreement with Almadex Minerals Limited and its wholly-owned Nevada subsidiary Almadex America Inc. (\"Almadex\"), which gives Abacus the right to earn up to a 75% undivided ownership interest in the Willow property (see News Release dated February 15, 2017). The Willow property is considered prospective for porphyry Cu, porphyry Cu-Mo and for epithermal Au-Ag. It was previously explored in the 1960s to the early 1980s to identify a porphyry copper deposit analogous to the nearby Yerington Mine, which produced approximately 1.6 billion pounds of copper for Anaconda Copper from 1952 to 1978. The Property is located 65 kilometres southeast of Reno, is accessible year-round, and is close to infrastructure in Yerington, Nevada. Abacus initiated a program of detailed geological mapping in April of this year, and also located, logged and analyzed skeleton drill core from a series of holes drilled in the 1970’s. A significant proportion of the property is covered by soils or later volcanics, with subcrop in some areas, but relatively little actual outcrop. The geological mapping program has been successful nonetheless in delineating two very large, funnel-shaped alteration systems characteristic of a porphyry copper system similar to, and on trend from, two separate known porphyry copper centres further east - the Ann Mason Deposit, and the Bear Deposit. In addition, several trends are believed to be evident from visual logging which spectrometer data interpretation and results from the planned rock and soil sampling program will be required to verify. The southern alteration zone can be traced for approximately 3.5 kilometres from southeast to northwest, where it disappears under later volcanic cover rocks, and is coincident with large copper-in-soils geochemical and IP geophysical anomalies. A number of Cu-Mo and Au soil anomalies are present further to the northwest within the cover rocks, and may represent a partially hidden continuation of this same system. The northern alteration zone is o...