2,000 hectare project in the Cretaceous volcanogenic massive sulfide (VMS) belt of northern coastal Peru
Extensive alteration and gold-silver- copper-zinc surface geochemical anomalies along 8.0 x 1.0 kilometer belt
Alturas holds 90% of the mineralized belt
Analysis of previous exploration database confirms that wide-spaced drilling by other companies intersected strong gold values with significant silver, copper and zinc anomalies in altered volcanic rocks
Very high potential for concealed gold-silver-copper-zinc massive sulfide bodies
During 2007 preliminary surface exploration completed
On February 28, 2008, the Company entered into an joint venture agreement with Minera IRL, a Peruvian company, whereby Alturas obtained an 80% interest in the Chapi Chapi property. The agreement essential doubles the Alturas' land holdings when combined with its adjacent Utupara project and the Company will consider Utupara - Chapi Chapi as a single project.
6,903 hectare property in southeastern Peru copper-gold belt that hosts world class deposits such as Tintaya, Los Chancas and Las Bambas
+3.0 x 2.0 kilometer copper-gold-molybdenum exo- and endoskarn system with possible porphyry potential
Within this system, distinct high grade mineralized NE-SW trends identified that are up to 3.00 x 0.25 kilometers in dimension
Copper-gold mineralization hosted in magnetite skarn along intrusive contacts and within steep structures cutting limestones
Alturas´s sampling of oxidized skarns confirms very high copper and gold grades over continuous sections of tens of meters
Large disseminated gold target recently recognized hosted by pyritized sandstones adjacent to skarns
High sulfidation epithermal gold target also present that requires further exploration
Results of surface exploration currently being compiled
The San Antonio project rounds out the Alturas polymetallic project portfolio. Previous work was conducted in 2008 by Southwestern Gold under a Letter Agreement with Alturas and the results are being evaluated.