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Mining industry

HRC Development Corporation Discovers Second Mineralized Stockwork System in Andes Project

Strategic Insights

— 1 min read

HRC Development Corporation, in partnership with Eldorado Corporation Ltd., has made a significant discovery in the Andes Project, a 1,200 square mile property located in Northwestern Argentina along the Chilean-Argentinean Border. The discovery of a second mineralized stockwork system, the Nordin zone, has been confirmed in trenches on a low relief hill, with the system extending 1,000 feet down the hill to the southeast. The gold mineralization is exposed and has been traced through a valley covered by thin alluvial and rock talus, where a new quartz stockwork zone, the "Gilligan Zone," has been discovered. The Gilligan Zone is located two miles to the southeast of the Nordin zone and is situated in intensely argillically altered volcanic rock.

Key Takeaways:

  • The Nordin zone is a gold mineralized quartz stockwork system exposed in trenches on a low relief hill, with the system extending 1,000 feet down the hill to the southeast.
  • The Gilligan Zone is a new quartz stockwork zone discovered two miles to the southeast of the Nordin zone, located in intensely argillically altered volcanic rock.
  • The stockwork and alteration discovered in the Nordin and Gilligan zones are similar in appearance to the Lobo, Nordin, and Refugio gold porphyries.
  • There is potential for numerous gold porphyries to be discovered along the 2-mile trend in the Nordin Zone area, similar to the Refugio Project, where three porphyries have been discovered to date.
  • Assay results from a recent trenching program in the Nordin and Gilligan zones will be released as received and compiled.
  • The Andes Project is a 1,200 square mile property located in Northwestern Argentina, owned 50% by HRC Development Corporation and 50% by Eldorado Corporation Ltd.
  • The discovery has the potential to expand the known mineralized trend in the Andes Project.

Statistics:

  • 1,200 square miles: The size of the Andes Project property
  • 2 miles: The distance between the Nordin and Gilligan zones
  • 1,000 feet: The length of the Nordin zone system
  • 50%: The ownership stake held by HRC Development Corporation in the Andes Project
  • 3: The number of gold porphyries discovered to date at the Refugio Project

Sources:

  • Business Wire, March 20, 1995
  • HRC Development Corporation's release, dated March 20, 1995
  • Vancouver Stock Exchange

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