Gold - Paraguay
Paraguay Exploration Project
In November 2004, Vane Minerals plc, Surcusal Paraguay acquired exclusive mineral rights to three large blocks of land in southeastern Paraguay, each considered to be prospective for the discovery of gold and possibly copper mineralization. They are located in a relatively under-explored corner of the mineral-rich Brazilian Pre-Cambrian Shield.
Anomalous concentrations of gold had been outlined on a reconnaissance scale during an extensive program of stream sediment sampling for diamond in the early 2000's. Three large concession blocks totaling 3,445 square kilometers were acquired under "Investigation Permits". VANE geologists continued the exploration program of detailed stream sediment and soil sampling with positive results.
In September, 2007 these "Investigation Permits" were combined in to an exploration license totaling 22,600 hectares. VANE immediately began soil geochem and continued gold panning of the soils and drainages within the concession area. This work identified 6 areas on the concession with anomalous geochem or gold pan concentrates indicative of alteration and gold mineralization. To date we have evaluated 2 areas with diamond drilling and auger sampling of the soils, with 4 areas that have not yet been evaluated.
Diamond drilling on two of the six areas found structural zones with minor amounts of copper minerals and traces of gold and platinum group minerals but no economic accumulations of these metals. Continued work on these two areas with deep auger sampling and panning of the lateritic soils in the auger holes continues to find gold particles. Grounds magnetic surveys on these two areas have shown magnetic anomalies that we feel are associated with the gold in the laterites but we are still searching for the source of the gold.
VANE is now actively seeking a joint venture partner to take this project forward and evaluate other parts of the concession.