IN OUZZAL NORTH (Au, Ag)
Location:
Located in the southern region of Algeria, In Ouzzal North is 500 km south west of the town of Tamanrasset and 2,000 km south of the town of Algiers in the Saharan desert.
Access: Accessible by road in all seasons with the use of 4 by 4 vehicles.
Land: 25 872 ha
Title:
An exploration permit under exclusive right was granted in 2007 for a period of three years. The permit is renewable. The property was acquired from the Algerian government through a transparent bidding process.
Geology:
The permit lies within archean granulitic rocks of the In Ouzzal mole. The permit is crossed by a zone of mylonitic rocks associated to the south extension of the In Ouzzal East shear zone that encloses both the Tirek and Amesmessa gold deposits, respectively located at 67 km and 15 km north of the permit boundary.
The Tirek deposit contains 630,000 tonnes of ore grading 16.73 g/t Au and the Amesmessa deposit, which is currently in production, contains 1,040,000 tonnes grading 12.05 g/t Au.† The gold, often native, is associated with decimetric to metric quartz veins in mylonitic rocks mineralized with minor sulphides (pyrite, galena and chalcopyrite).
Work:
Exploration work conducted during the 1970s by Russian geologists for Sonarem, an agency of the Algerian government, comprised geophysical surveys (magnetic, gravimetric and electrical), geological surveys, prospection and extensive trenching.
Throughout 2007-2008, Cancor compiled all previous geological, geochemical and geophysical data, conducted a geological reconnaissance survey in the vicinity of the Tachamek gold field and sampled various quartz veins. Cancor conducted this work in order to verify the geological data compiled during the 1970s. The different rock types encountered during the reconnaissance survey were sampled and analyzed for major, traces and rare earth elements. Magnetic and electromagnetic maps have been prepared using past data and a new report has been subsequently produced.
Mineralizations and potential:
Exploration work conducted by Russian teams for the Algerian government led to the discovery of narrow quartz veins mineralized with gold in sheared mylonitic rocks at three localities: Tachamek, Zone B and Point 33.
The Tachamek showing was trenched and sampled in 1992. The data from this work showed 29.20 g/t Au over 0.40 meters, 86.70 g/t Au over 0.80 meters and 143.10 g/t Au over 0.20 meters in quartz veins mineralized with minor pyrite, galena and some visible gold. Four grab samples taken by Cancor geologists in this locality have assayed 128.50 g/t Au, 410.00 g/t Au, 40.80 g/t Au and 39.70 g/t Au. Visible gold was seen in one sample.
The potential to find a vein-type gold deposit similar to the Amesmessa and Tirek deposits is excellent.
† These estimates are not compliant with National Instrument 43-101. Cancor has not undertaken any independent investigation of these estimates and therefore these estimates should not be relied upon. |
