ExplorationExploration | Paloma
Paloma represents a bulk tonnage and/or high grade, high sulfidation epithermal gold project
Location & Infrastructure
Located in northern Chile Region II, approximately 150 kilometers east-southeast of Calama and 50 km west of Aida, accessible by paved highway 27 and dirt road. The town of San Pedro de Atacama about 60 km west of Aida and has modern infrastructure and a natural gas pipeline follows the highway to within 3 km of Paloma.
5,100 hectares, consisting of 8 mineral concessions on which Endeavour holds an option to acquire up to a 70% interest from CMP, a large Chilean mining company. The Company can acquire its initial 51% interest by paying $0.75 million and spending $5.0 million over 5 years with the final payment due in 2023, followed by a second option to acquire 70% by completing a PEA and a PFS by 2025.
Paloma covers a 3.5 km long x 2.0 km wide, acid sulfate-vuggy silica-potassic-phyllic-advanced argillic-argillic alteration zone carrying highly anomalous indicator elements over a broad area.
Endeavour collected and analyzed 33 rock samples to define a high-level indicator element anomaly throughout the alteration zone. Rock samples returned up to 2.73 ppm mercury, 302 ppm arsenic, 80.4 ppm bismuth, 162 ppm antimony, 112 ppm lead and 27.2 ppm tellurium.
Paloma is located on part of the northwest trending Maricunga and El Indio gold belt that runs from north Chile to southern Peru. The target type is bulk tonnage, low to high grade, disseminated/stock-work, breccia/vein, high sulfidation epithermal deposits related to intrusive domes or the tops of porphyry systems (examples include El Indio, Pascua Lama, and Salares Norte).