Location & Overview

The Andes Project covers 80,617 Ha (48 Ha mining title; 3,955 Ha granted title & 76,614 Ha technical title) located on the eastern flank of the Western Cordillera of the Andes Mountains. This region was a very significant gold producing area between the 1st and 7th Century AD, exploited by the Quimbaya Civilisation.

The majority of the project lies within the municipalities of Andes, Jardin, Betania & Bolivar in the department of Antioquia. The town of Andes is located approximately 65 km or 2.5-3 hours drive south-west of Medellín on a paved two-lane highway.

Industry in the region is primarily agriculture such as small scale livestock, crop production and coffee plantations. There are also artisanal mining operations in some areas typically consisting of teams of only 2 or 3 miners.  As part of its Corporate Social Responsibility (CSR) policy, Andes Resources seeks to work in harmony with the other industries of the area, including undocumented miners, and to cause minimal disruption to other enterprises.

The Project has excellent power, water and communications infrastructure and access with ~1,000 km of roads. The Project elevation ranges from 1,500 mRL and 2,500 mRL. The Company does not explore within protected paramo zones or forest reserves. The project is considered to be in a low security risk area.

Geology & Mineralisation

The Andes mountains of Colombia consist of 3 ranges (Cordillera), each underlain by a series of former magmatic arcs which were emplaced along the western margin of South America from Jurassic to upper Miocene. The Andes project lies on the eastern flank of the western cordillera.

Most of the project area overlies former oceanic crust that was accreted onto the South American plate during the Neogene (formerly Late Tertiary). These sequences of oceanic crust, mafic volcanics and related sediments, intruded by calc-alkaline intermediate intrusions provide a somewhat different geological setting to much of the Andes intrusive belts in countries to the south.

In addition to the accreted oceanic crust, the Colombian Andes also differ from classical Andes geology developed in Chile and Peru in having had a highly oblique plate collision and low-angle and limited subduction.

Precious and base metal mineralisation has developed in the Colombian Andes in a wide range of ages and geological settings. The Farallones Batholith (11-12 Ma) in the Andes Project area, host significant precious metal bearing vein mineralization both in the intrusive rock and adjacent hornfelsed meta-sediments. An eastern belt of 6-8 Ma porphyries hosts several types of precious metal mineralization including sheeted veins at Marmato, porphyry Au-Cu at Titiribi and La Colosa, breccia and porphyry mineralization at Miraflores, and the carbonate base metal vein system at Buriticá.

Most of the Andes Project tenure lies in or near the contact zone of the granodioritic Farallones Batholith which has intruded into flysch sediments. A major terrane boundary fault system, separates the easternmost tenements from the bulk of the tenements.

Within the Andes Project area some 150 former and current artisanal mines have been recorded with vein widths varying from a few cm to over 10 metres and mined vertically up to 700m.

The majority of veins directions trend broadly in one of 2 directions, southeast or northeast and steeply dipping, generally sub-vertical.

Further east, this intrusion is associated with epithermal gold deposits loosely associated with porphyrytic intrusions, and tentatively with Porphyry Copper Deposit magmatic-hydrothermal systems. At Andes, the granodioritic intrusions found at Gibraltar could be part of the Farallones magmatism.

Mineralization at El Columpio and San Agustin consist of 0.5 to 3 m thick sub-vertical and tabular sericite-pyrite altered zones, with or without quartz veins. Both the El Columpio and San Agustin, sub-parallel sericite-pyrite±quartz structures have tens of meters of exposed horizontal and vertical extent and are spaced every 20 to 50 m. The lateral extent of the area with mineralized structures is not constrained and remains open in all directions. Previously reported Au-concentrations of the sericite-pyrite-rich zones are promising and if low Au-grade exists between the main zones, the prospect could be amenable for bulk underground mining.

The veins observed are typically mid-sulfidation consisting of disseminated to semi-massive pyrite and pyrrhotite with variable amounts of arsenopyrite, galena, sphalerite and rarely chalcopyrite and other copper sulphides. The veins also contain variable amounts of quartz and generally lesser quantities of carbonate. The veins are commonly brecciated.

The host rocks observed in the area are generally fine grained metasediments, probably turbiditic, with weakly developed slaty cleavage. These are variably hornfelsed and in the vicinity of some veins silicified over widths of many metres.

Exploration Program

Since 2014,  Andes had conducted the following exploration programs:

  • 5,000 line km airborne geophysics and 22,500 ha LIDAR survey along the Farallones intrusive contact and porphyry belt to the east
  • Highly detailed 1:1,000 topographic maps have been constructed for exploration and mapping
  • More than 14,000 stream, hydrogeochemical, rock and soil auger samples taken over a 6,300 ha area. The largest regional sampling program in Colombia during 2014 & 2015. Less than 10% of the land package has been stream or soil sampled
  • Environmental baseline survey taken in conjunction with hydrogeochemical/stream sampling

The 2018 exploration program includes diamond core drilling at the El Columpio epithermal gold target, geophysics at the Gibraltar copper/gold porphyry target and ongoing regional sampling, mapping and target generation work.

Assay Results & Discoveries

Assay results and discoveries include the following:

  • 12 separate gold in soil anomalies including the flagship prospects; El Columpio, San Agustin and San Pablo
  • 15 drill-ready targets defined to date
  • Highly anomalous gold in stream sediment results over La Pava prospect still to be followed up with soil sampling programs
  • Gibraltar Au-Cu porphyry with similar mineralisation to Quebradona

Peak Soil sampling results include:

  • 303.6g/t Au
  • 49.9g/t Au
  • 28.1g/t Au
  • 12.3g/t Au & 130g/t Ag
  • 90m @ 5.2g/t Au & 220g/t Ag (10m spaced soil line)
  • 70m @ 4.6g/t Au & 121.6g/t Ag (10m spaced soil line)
  • 110m @ 3.0g/t Au (10m spaced soil line)

Peak Adit sampling results include:

  • 5m @ 8.49g/t Au & 97.7g/t Ag (Rock Channel)
  • 1m @ 26.13g/t Au & 559g/t Ag (Adit Vein)
  • 1.5m @ 41.7g/t Au & 77g/t Ag (Adit Vein)
  • 2.5m @ 21g/t Au & 23.3g/t Ag (Adit Vein)

Peak surface outcrop sampling results include:

  • 6.39g/t Au & 1,682g/t Ag (Rock Float)
  • 30cm @ 91.37g/t Au (Vein Outcrop)
  • 41.7g/t Au (Rock Float)
  • 20m @ 1.1g/t Au (Porphyry Channel)
  • 3.3g/t Au, 26.8g/t Ag, 2.74% Zn (Porphyry Rock Float)

El Columpio

  • Option to purchase 100% for US$300,000
  • 48Ha exploitation title – can be drilled
  • 6 NW-SE parallel (sheeted) veins ranging from 0.5 – 5m thick
  • 100ppb Au in soil anomaly 1km strike length by 300m width
  • Intermediate-sulfidation Au-Ag epithermal system
  • Several drill-ready targets defined ready for testing

Central Andes

  • 1,049Ha previously held by Anglogold Ashanti
  • Largely un-sampled with no drilling
  • ~15 operating mines including El Bosque the largest operating mine in Andes
  • Intermediate-sulfidation epithermal sheeted-vein systems
  • Potential strike extension between San Agustin & Santa Rita. 5 operating mines in this gap
  • Potential strike extension between El Columpio & El Bosque/San Pablo

Gibraltar Porphyry

  • Au-Cu porphyry system in the Middle Cauca Porphyry Belt
  • Mineralised argillic altered porphyritic diorite exposed in riverside landslide
  • Similar geological setting to Quebradona (30Moz Aueq) located 20km NNE
  • Limited sampling to date
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