Gaban Gold Project
Project Size: 18,700 Hectares (187km2) Target Style: Orogenic shear zone hosted gold mineralisation - 3 auriferous shear zones have been identified to date Drill Targets:
Three field campaigns completed in 2019 with the objective of outlining areas for drill testing in 2020. Results pending.
Targets: Initial work will focus on the Picitiri, Yanamayo, and San Jose shear zones Ownership: 100% - 28 concessions (22 granted, 6 under application), subject to NSR Royalty Location: San Gaban District of Puno, Peru Geology: The Puno Orogenic Gold Belt (“POGB”)
- Gaban NI 43-101 Report.
- Excellent infrastructure: The town of San Gaban lies within the Property limits and serves as a logistical base for exploration teams. The national road network of Peru connects San Gaban to major towns including Cusco, Juliaca and Puerto Maldonado from where it is possible to fly or drive to Lima. The San Gaban hydro-electric dam has a 206 MW capacity and provides power to the town of San Gaban.
- The principal mineralogical, lithological and structural controls required for economic orogenic gold mineralization to occur are present.
- Three outcropping auriferous shear zones identified: Picitiri, Yanamayo and San Jose.
- The Company has identified has also located outcropping slate shear zones hosting quartz veins-veinlets and observed two ages of mineralization in intrusives. Some of these features are recognized in the Ollachea gold deposit located 40kms south of Gaban in the POGB. At Ollachea gold occurs in association with pyrrhotite and other sulphides within shear zones similar to those observed at Gaban.
- Several areas of active alluvial placer gold mining have been recorded in drainages around the Picitiri, Yanamayo, and San Jose shear zones. Some of the artisanal workings have also exploited the outcropping shear zones.
In September 2019, Winshear acquired a 100% interest, subject to a 2% NSR, in the Gaban Gold Project and Tinka IOCG Project in Peru from Palamina Corp through the issuance of 10,000,000 common shares of Winshear (see news release here).
Work done to date
Palamina completed five field programmes, conducting geological mapping, stream sediment sampling (80 samples), and rock sampling (183 samples).
In addition, an airborne magnetic and radiometric survey was flown over the Main Block of the property. The magnetic data indicates that the shear zones are associated with a consistent magnetic (TMI) low, and this area will be the focus of initial exploration work. Interpretation of the magnetic / radiometric data has identified numerous other targets that will be followed up with initial mapping / ground truthing.
The Southern Block has not been covered by airborne geophysics but does cover similar geology to the Main Block. Winshear plans to conduct stream sediment sampling over the southern block in the 2020 field season.
Work completed in 2019
- Channel sampling of shear zones where they are exposed.
- Ground truthing of targets Identified from the airborne geophysics data.
NI 43-101 Technical Report - The Gaban Gold Property, Puno, Peru - August 27th, 2019