New Geophysical Program Identifies 4 Additional Large Priority Targets At Zulema Project, Chile

About this update from Power Metallic Mines Inc.

[{"type":"text","content":"New Geophysical Program Identifies 4 Additional Large Priority Targets At Zulema Project, Chile(via TheNewswire)\n\n \nToronto, ON / TheNewswire / Feb. 6, 2018 Chilean Metals Inc. (\"Chilean Metals,\" \"CMX\" or the \"Company\") (TSX.V:CMX, OTCQB: CMETF, SSE:CMX, MILA: CMX). \n\n\n \nChilean Metals is pleased to announce the results of a property wide 10 sq kms ground magnetic survey conducted on its Zulema IOCG Project south of Copiapo, Chile. Conducted by SouthernRock Geophysics S.A., 242-line kilometers of data was collected along 55 north - south survey line segments in order to assist in target selection prior to the Company's planned Phase II drill program. The results of the survey were positive, delineating 4 key target areas for detailed follow up in 2018. \n\n \n \n\nClick Image To View Full Size\n\n \n \nFigure 1. Reduced to Pole Magnetics and Zulema Targets\n\n\n \nThe Zulema project is located along the Atacama Fault system 35 kilometers south of Copiapo Chile and 30 kilometers south west of Lundin Mining's Candelaria mine. In 2017, diamond drilling encountered IOCG style mineralization in numerous drill holes, the best intersections located along the west flank of an extensive Reduced to Pole magnetic anomaly. With copper mineralization identified on both the northern and southern project boundaries, Santa Candelaria and Mina Restauradora respectively, a phase 2 drilling program was warranted. Following consultation with industry partners, the Company proceeded with project wide ground-based geophysics, commencing with magnetics and to be followed by gravity and deep penetrating I.P. over select targets.\n\n \n \nThe magnetic survey delineated a 2km. wide corridor trending northeast from the southern margin of the survey area north to the Santa Candelaria workings as shown in Figure 1. A preliminary review of the data indicates there are 4 target areas that require detailed follow-up. From north to south, the targets are Santa Candelaria West, the West Flank, SW Magnetic High and SSE / DDH#1. \n\n \n \nThe Santa Candelaria target lies due west of the Santa Candelaria mine workings where Cu mineralization is characterized by chalcopyrite disseminations and veins within a magnetite / hematite calcsilicate skarn. Exposure is relatively abundant west of the workings and will be investigated prior to prior to the commen...

More updates from Power Metallic Mines Inc.