VANCOUVER, BRITISH COLUMBIA–(Marketwired – Nov. 22, 2016) – Revelo Resources Corp. (“Revelo” or the “Company”) (TSX VENTURE:RVL) is pleased to provide an update relating to its wholly owned Las Pampas project in northern Chile. Given the very large size (~40,000 hectares) of the Las Pampas exploration property, the multiple targets delineated to date, and the presence of different geological, geochemical and geophysical characteristics of key targets, Revelo has decided to split the property into three separate projects that better relate to these different target types, in order to better focus exploration ideas and future exploration investments.
To this end, Revelo has created three named project areas out of the original Las Pampas property, each with specific exploration requirements related to the different target models, as follows:
- Las Pampas – retains the original name and is prospective for bonanza-style low-sulfidation epithermal precious metals veins, similar to those found in the El Peñon district.
- Cerro Buenos Aires – displays widespread silicification and advanced argillic alteration with potential for both high-sulfidation precious metals mineralisation as well as potential porphyry copper mineralisation.
- Cerro Blanco – displays characteristics of the upper levels of a porphyry copper system.
Tim Beale, President and CEO of Revelo, commented: “The division of Las Pampas into three separate project areas makes good geological, exploration and commercial sense. In its current state, the exploration of Las Pampas project area has been affected by the number of targets, and the differing exploration requirements relating to the different target types. With this division, we now have three better focused project areas with clearly defined target types, and the new project areas will now be explored and marketed on an individual basis. We continue to be very excited about these three projects and rank them highly in terms of their geological potential and fantastic access and infrastructural characteristics. We will continue to advance these projects on our own, whilst at the same time exploring the possibilities of securing joint venture partners should attractive deals be in the offering.”
The new Las Pampas, Cerro Buenos Aires and Cerro Blanco properties are located in the heart of the highly productive Paleocene Mineral Belt in northern Chile that contains several important gold, silver and copper mines and projects. Numerous indications of gold and silver mineralization of both low- and high-sulfidation styles, together with porphyry copper targets, occur on the properties, which are located along trend and about 35 km to the southwest of the El Peñon low-sulfidation precious metals mining district (Yamana Gold), and some 200 km south of the Spence (BHP Billiton) and Sierra Gorda (KGHM) porphyry copper mines.
Please visit Revelo’s updated website and in particular the new Las Pampas, Cerro Buenos Aires and Cerro Blanco project pages for further information, and below for brief summaries of the new projects.
LAS PAMPAS (~23,500 hectares)
Numerous bonanza-style, low sulfidation epithermal precious metals vein targets occur throughout the Las Pampas property, hosted within Paleocene volcanic sequences. All the targets occur to the east of an important N-S trending fault splay of the Dominador Fault Zone that transects the property. The Dominador Fault is an important controlling structure in the El Peñon district to the north. Several rhyodacitic dome complexes have been mapped at surface or intersected in limited historic drill holes. Of particular interest, and of high priority at this time, are:
- Cerros Bayos sinter area – Outcropping chalcedonic silica sinter, approximately 4 km x 1.5 km in aerial extent, and with proven silver sulphide and sulphosalt minerals present. The sinter overlies key linear geophysical resistivity anomalies that may represent mineralised up-flow zones (veins), which remain to be drill tested.
- Cerritos Trend – Major NNW trend of anomalous arsenic and antimony in soil geochemistry, over approximately 9 km x 2 km, with discontinuous rhyodacitic dome complexes, sporadic outcrops of mineralised veins (Cerritos Sur, Cerritos Centro) and highly anomalous historic drill intercepts (Cerritos Sur, Cerritos Norte) in wide spaced drilling. The geology is largely obscured by shallow post-mineral cover.
- Cerro 1868 – Rhyodacitic dome complex with highly anomalous arsenic and antimony geochemistry along the eastern and western slopes of the dome complex.
Other targets, with associated geological, geochemical and/or geophysical anomalies typical of low-sulfidation vein systems occur within the property. Several anomalous areas have yet to be followed up.
Las Pampas forms an important prospective area located just 10 km west of Revelo’s Loro project, where exciting new discoveries of mineralised low-sulfidation veins have recently been made (see news release dated November 15th, 2016).
CERRO BUENOS AIRES (~9,000 hectares)
Cerro Buenos Aires comprises three separate outcropping areas aligned along a N-S trend over approximately 11 km, of which the largest and southernmost outcrop is represented by the Cerro Buenos Aires hill (5 km x 2 km). All the outcrops display intense and widespread quartz-alunite alteration, including vuggy silica and silicified breccias, together with other advanced argillic minerals including dickite and pyrophyllite, in both outcrop and in limited wide-spaced drill holes. The hydrothermally altered rocks affect a large rhyolitic dome complex intruding and interbedded with an andesitic-dacitic volcanic pile. Intense, zoned, arsenic, antimony, bismuth and tellurium geochemical anomalies, together with sporadic gold and silver anomalies, occur both in outcrop and in the limited drilling.
Revelo has identified a potentially mineralised high-sulfidation root zone to the expansive lithocap at Cerro Buenos Aires from a combination of geology, geochemistry and geophysics (HoistEM, CSAMT and magnetics), which remains to be drill tested. Furthermore, certain geophysical and geochemical anomalies suggest possible porphyry copper targets both at depth beneath, and under cover to the side of, the outcropping lithocaps, which also remain to be drill tested. The overall area of hydrothermal alteration is more than 13 km2 in outcrop, and a number of secondary targets can be interpreted from the data acquired to date.
CERRO BLANCO (~8,000 hectares)
Geophysical and geochemical data suggest that Cerro Blanco is a separate geological domain from the Las Pampas area immediately to the southwest. A large, regional NW-SE trending drainage system coincides with the geophysical and geochemical break, and may represent a deep geological structure.
Cerro Blanco is a relatively small hill (approximately 1 km across) surrounded by an extensive, post-mineral gravel-filled pampa. The topographic high is characterised by a small, remnant quartz-alunite altered lithocap above intense advanced argillic alteration within a sequence of clastic and volcaniclastic rocks. Part of the alteration zone displays “wormy” quartz veining within a matrix of pyrophyllite, which may indicate a transitional zone between the high-sulfidation epithermal environment, and the porphyry environment below. Two historic, shallow (~380m max) inclined drill holes on the margins of the topographic high cut advanced argillic alteration transitioning to quartz-sericite alteration, possibly suggesting increasing proximity to a potential porphyry source. Both holes displayed anomalous geochemistry including zinc, lead and silver with minor copper and molybdenum. Terraspec SWIR analyses of drill hole chips indicate a downward increase in the 2,200-nm sericite absorption providing further evidence of a possible vector to the core of the Cerro Blanco porphyry system. Magnetics geophysical anomalies also provide possible clues to a potential hypogene copper target that could exist off the margins of the outcrops, under the gravel-filled pampa, and which remains untested by drilling. Several secondary geophysical targets are apparent in the data.
ABOUT REVELO
Revelo is a Prospect Generator that has consolidated an outstanding portfolio of 25 projects prospective for gold, copper and silver located along proven mineral belts in one of the world’s top mining jurisdictions – Chile. Revelo’s total exposure to mineral tenements in northern Chile is around 300,000 hectares, of which about 100,000 hectares (3 projects) are subject to 3rd party exploration expenditures. Several targets are ready for drill testing within the portfolio. Revelo is advancing its projects through low cost exploration and it is actively looking for partners to further develop its portfolio.
Revelo is a Canadian company and is listed on the TSX Venture Exchange (TSX VENTURE:RVL). For more information, please visit Revelo’s website at www.reveloresources.com.
Ian Gendall B.Sc. (Hons.), M.Sc. (Pr. Sci. Nat.), an independent and “qualified person” within the definition of that term in NI 43-101, has reviewed and approved the technical information contained in this news release.
ON BEHALF OF THE BOARD
Timothy J. Beale, President & CEO
Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.
FORWARD-LOOKING STATEMENT
This news release contains certain statements that may be deemed “forward-looking statements”. All statements in this release, other than statements of historical fact, that address events or developments that Revelo expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential”, “indicate” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Although Revelo believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward-looking statements.
To view the Location of Las Pampas, Cerro Buenos Aires and Cerro Blanco Exploration Projects, please visit the following link: http://media3.marketwire.com/docs/1077522_1.pdf
To view the Detail of Las Pampas, Cerro Buenos Aires and Cerro Blanco Project Areas with Geology, please visit the following link: http://media3.marketwire.com/docs/1077522_2.pdf
To view the Satellite Image of Las Pampas, Cerro Buenos Aires and Cerro Blanco Project Areas, please visit the following link: http://media3.marketwire.com/docs/1077522_3.pdf
Chiara Orrigoni
Investor Relations Manager
+1 604 687-5544
[email protected]
www.reveloresources.com
