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Ecuador |
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English/Espaņol
Gama
Primary Target Gold Location The GAMA project covers 94.5 km2 along the northwestern boundary of IAMGold's Quimsacocha project. Property Information ) In October, 2009 Cornerstone announced an option/joint venture agreement with Intrepid Mines Ltd. Under the terms of the option Intrepid will spend $US 1.0M in the first year of the program and will initially focus on drilling the Gama prospect. Cornerstone will manage the project on behalf of Intrepid. The main focus of the GAMA project is a minimum 3.0 km by 5.0 km advanced argillic alteration system with widespread massive and vuggy silica and quartz-alunite alteration. Sampling of the vuggy silica at Gama yield results in 100's of ppb Au. The Ermitas hydrothermal breccia body, which has carried fragments of mineralized silica and sulphides from depth to the surface, consistently assay in excess of 1000 ppb Au. Detailed mapping, prospecting, litho- and soil geochemistry and geophysics (magnetic and IP) have been completed. The first phase of the Intrepid Mines program scheduled for 2010 will see the first ever drilling on the Gama prospect. Environmental studies and community relations programs were completed under the pre-April 2008 regulatory structure. Additionally, with the introduction of a new mining law and regulations, all further legal requirements for environmental and water permits have been met. However, as of May 2010 the government has yet to approve re-commencement of the Gama program. |
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