Dios Exploration and its partner Osisko proceeded this fall with surface work on the AU33 West gold project (see October 24, 2012 post).
Dios Exploration recently reported good news after first assay results.
Ten trenches were dug up to test soil geochemical targets or to extend known gold mineralized occurrences.
The best results come from the Héberto occurrence, in a mylonityzed tonalite, a granite type. The results returned grades as follows :
- 5.0 grams per ton in gold over 5.25 m
- 1.12 grams per ton in gold over 4.5 m
It is important to note that analysis within the tonalite was realized withinan homogeneous rock and not in veins (eg. Quartz). This could suggest interesting gold mineralization tonnage.
Other anomalous results from 0.5 to 1.1 g/t in gold on brackets of 0.75 to 2.25 m were as well obtained on other trenches.
These trenches allowed a good exposure of the mineralized occurrences and a better understanding of the vectors in place controlling the mineralization.
Remember that Osisko is a major partner who can acquire 51% of the AU33 WEST property. This partner has to incur 5,000,000 $ in exploration and 700,000 $as payments over 5 years.
The work previously mentioned is part of this partnership and is funded 100% by Osisko
Later on, if Osisko desires, an additonnal participation of 9 % is possible with further work of 9,000,000 $ over 5 years. Another 10 % is as well available with the financing of a feasibility study.
Osisko is a worldwide mining corporation based in Montreal for aquisition, exploration, developpement, and exploitation of auriferous properties.
Some photos of the work (click to enlarge)