BACKGROUND
- Colca is a mining deposit, held in reserve by the Peruvian government, as an Area of Non Admission of Claims (ANAC), pursuant to the General Mining Law, in order that the competent authority of the state make regional prospecting works regional, based on the results, PROINVERSION may promote private investment in these areas.
- The results of prospective studies of Colca, made between 2012 and 2014, have allowed PROINVERSIÓN to approve joining the process of promoting private investment.
LOCATION
Colca is located in the Apurimac region in the province of Cotabambas, between the districts of Cotabambas and Tambobamba, in the communities of Colca, Pamparki, Paruro Huanec and Huamancharpa
Surface area: 14,100 acres
Average height: 2900 m.a.s.l..
PROJECT OVERVIEW
Prospecting works and geophysical survey were made indicating possible location of a deposit porphyry type of Cu-Au. Within the Colca area two prospects have been recognized: Colca (6200 ha) and Hualpachaca (5600 ha); the latter, located in the same structural corridor oriented NE – SW, at a horizontal distance of ± 3 km straight line, of Cotabambas porphyry (Cu-Au).
Mineralization in both prospects is manifested as epithermal streaks due to the presence of iron oxides, carbonates and sulfides. The results of geophysical prospecting in the areas of Ninaraura, Callapunco and Cutuctuy indicate the possible site of a copper-gold porphyry, both in andesite and in the contact with intrusive diorite. In a tour conducted in the headwaters of the Aquilano River, contact of the intrusive and the limestone formation Arcurquina (Ferrobamba) form a skarn type deposit, which currently informal mining works are performed in the communities of Pamparki and Colca.
Based on 445 samples of rock chips, highlights the geochemical result with Au values, ranging from 859 ppb to 3063 ppb, and up to 7.49% of Cu. In both prospects, the mineralogical association evidences regular signs of secondary mineralization, as jarosite, goethite, malachite, and primary, as pyrite, chalcopyrite, especially in the prospectus Huallpachaca, which has been identified three anomalies or main “targets” of mineralization.
According to the study, anomalous values of copper and gold are representative and of importance at this early stage, and it is possible to improve significantly in depth, so there are good chances that a porphyry may develop that should be explored as the veins and skarn and may be discovered medium-sized to large deposits, similar to the existing deposits in nearby areas such as Cotabambas, Las Bambas, Mightiam, Cochasayhuas and other deposits of medium to large mining, gold vein type, iron skarn and polymetallic and porphyry of copper-gold-molybdenum.
PRIVATE INVESTMENT – PROMOTION PROCESS
PROINVERSIÓN shall convene interested investors for the development of exploration and commitment to develop a feasibility study in order to acquire the right to develop the field according to the results of the study. Work of diamond drilling in the anomalies or mentioned targets is required, to define the real dimension the potential of the mineral deposit and the economic viability for future exploitation.
The outline of the business is oriented to grant option period, extended, for exploration and feasibility study under investment commitments for the development of the project, after which ownership is transferred as a mining concession for the development of the operation.