San Augustin
Quick Facts
Location:
Santa Cruz Province, Southern Argentina. 900m elevation.Ownership:
Andean is currently earning a 100% interest in San Augustin through an Option Agreement.Mineralisation:
Low-sulphidation, epithermal gold (and potentially silver) hosted within quartz veins and associated stockworks with potential bonanza type grades.
The three properties - San Augustin, La Esperanza and Las Mellizas - and all located in a regional cluster approximately 100km to the southwest from Cerro Negro, in the province of Santa Cruz.
Access to all of the properties is good, via a series of good hard-packed tracks easily navigable, in dry weather, with 4-wheel drive vehicles. All of the properties are accessible, to the south, from Ruta 39 that connects Las Heras and Bajo Caracoles, via the access entrance to the Cerro Negro property. Preliminary reconnaissance by IAMGold in 2000 and 2002, provided the basis for reconnaissance prospecting and rock sampling of a 5km2 area and preliminary geological mapping of a 2km2 area in 2003. A 6-hole (1,205m) diamond drilling program was then completed as follow-up in two target areas.
The work identified the presence of a weakly mineralized epithermal system with low-grade gold values hosted by both quartz veins and quartz stockworks. These results have lowered the property for receiving extensive funding in 2007. It is noted however that the work to-date has been focused over only a part of the tenement block. Interpretation of satellite imagery suggests the presence of vein structures outside of that area. These potential structural trends need to be prospected in the future.
Other Properties
Andean is currently negotiating to acquire other encouraging properties in Santa Cruz Province, with the emphasis on the belt which extends south east from the Cerro Negro property towards AngloGold´s Cerro Vanguardia mine.