Oreterra Metals (TSX-V:OTMC) has identified a significant new porphyry target at its Kinkaid Project in Nevada, US, following the completion of an airborne geophysical survey.
The low‑level helicopter‑borne magnetic and radiometric survey was flown across the entire 100%‑owned property, which lies within the Walker Lane trend. The results outlined several large new targets in addition to firming up the signature of previously suspected porphyry centres.
A prominent 1.7km by 1.0km potassic anomaly was outlined over the postulated Bismark Hill‑Southern Barite porphyry target.
Another significant anomaly, measuring 1.2km by 0.9km, was identified in a newly investigated area where widespread copper prospects and potentially significant alteration patterns were noted in April.
Recent sampling at the Bismark Hill Gold Zone returned a weighted composite of 0.87 grams per tonne gold over 15m, including 2.05g/t gold over 5m. Five samples of red, quartz‑veined material returned assays from 2.77g/t to 22.48g/t gold, adding to previous results of up to 50.5g/t gold.
At the PM Skarn & Gold Zone, follow‑up sampling returned a property‑high assay of 31.16g/t gold from a float boulder and 1.34g/t gold from a breccia sample. The zone is now believed to extend at least 200m along strike.
At the Montreal Mine North, a 500m long series of prospect pits and trenches was examined, with 10 of 17 samples assaying above 1% copper and 10 samples returning 0.82 to 12.54g/t gold. Highly anomalous levels of bismuth, mercury, and antimony were also recorded.
VP of Exploration John Biczok says the project now warrants ground geophysical surveys over at least five targets.
“The project now warrants ground geophysical surveys (Induced Polarization + Magnetotelluric) over at least five targets thought to represent the main porphyry targets and the exposed epithermal gold zones overlying some of them,” Biczok says.
CEO Kevin Keough says Kinkaid has progressed rapidly and now provides the company with a second near-drill‑ready copper‑gold‑silver property.
“Kinkaid has progressed rapidly. It now provides the company with a second really outstanding, near drill‑ready copper‑gold‑silver property with apparent porphyry‑epithermal targets of considerable scale,” Keough notes.
The company plans ground geophysical surveys over the target areas in the fall, with the goal of generating drill targets for initial testing as early as next year.
Write to JC Villarba at Mining.com.au
Images: Oreterra Metals
