TESEO

Executive Summary

The Teseo is located in the coastal belt of Chile, a region known for excellent iron, copper and gold production.  Teseo is eassily accessible by paved roads from the cities of Ovalle and La Serena. The project comprisse a solid cluster of exploration properties situated in a district with IOCG and Cu-Mo-Au Porphyry deposits. The project contains an attractive lithocap with a silica-clay alteration that shows porphyry geochemical signatures. Basic exploration work was conducted at the Teseo.

Key points

  • 51 km with good access roads from Ovalle city.
  • Mining property. 6400 ha, 100% MASGLAS.
  • Exploration stage. Early mapping and sampling.
  • Exploration potential.  Cu-Mo-Au Porphyry and IOCG.

Location

Teseo is located in the Coquimbo Region of northern Chile, almost 30 kilometers to the north of the town of Combarbalá.

The project is situated within a Cretaceous Porphyry style mineralization belt, where numerous porphyry systems with preserved argillic to advanced argillic lithocaps were discovered.   IOCG and Cu-Au veins systems are very common in this belt too.

The Punitaqui mine (Glencore) is the most relevant discovery near the Teseo.  It has 8 Mt@ 1.2% Cu, 4 g/t Ag.  In addition, junior exploration companies were very successful with the recent discovery of numerous porphyry systems like Llahuín (SHM, 145Mt@ 0.3%Cu, 0.1g/t Au) and Las Mollacas (Metminco, 15.5Mt@ 0.51%Cu).   Some old mining districts like El Espino (Pucobre) which are nearby are starting large scale production as well. (See Figure 1)

 

Figure 1. Location of Teseo project.
Figure 1. Location of Teseo project.

 

Mining Property

The Teseo comprises a cluster of 6400 ha of exploration claims and is 100% owned by MASGLAS.

Geology

Cretaceous settings in Teseo are characterized by volcanic sequences and intrusives. Underlain rocks represent early Cretaceous sediments and volcanics from Quebrada Marquesa Formation.  They are intruded by late Cretaceous monzodiorite porphyries demonstrate the typical mineralization events from this metallogenic belt.

At the Teseo project there is a remnant lithocap over the volcanics and sedimentary rocks, showing a Quartz-Sericite-Clays core, surrounded by a Chlorite dominated halo. (See Figure 2)

 

Figure 2. Lithocap outcrops photos. a. - Silicified breccias; b.-Quartz-sericite-clays alteration at lihocap; c.-Silica-clays alteration.
Figure 2. Lithocap outcrops photos. a. – Silicified breccias; b.-Quartz-sericite-clays alteration at lihocap; c.-Silica-clays alteration.

Exploration

This project is in an early exploration stage.  Only surface rock sampling and mapping has been completed. Previous exploration work was conducted by Minera Inmet Chile, and they collected a total of 179 samples in the area focused in outcrops and old showings.

Geochemical zonation shows an anomalous Mo-S core in the silica-argillic lithocap with an external halo with polymetallic anomaly (Au>0.1ppm, Cu>0.1%, Pb>0.15%, Zn>0.2%). This zonation observed at Teseo is typical of shallow settings above porphyry systems.

 

Figure 3. Alteration and geochemistry in Teseo project.
Figure 3. Alteration and geochemistry in Teseo project.

 

Alteration and geochemical zonation at the Teseo project suggests shallow settings of porphyry style mineralization.

MASGLAS exploration works are underway.