Piedra Iman Project, Nicaragua
The Piedra Iman project is located about 100 kilometers (km) northwest of Managua, Nicaragua via the Pan American Highway and is only 30 km north of B2 Gold's El Limon Mine. The Project area lies within the 26,180.89 hectare Aguascalientes Concession in Northern Nicaragua.
A literature reference to a copper-gold project explored pre-civil war in the 1970's led to Caza's Nicaragua geologic team discovering several old exploration drill sites and the collapsed portal of a reported 600 meter long exploration tunnel. The Company has been unable to secure any old files or drillcore samples to date.
Initial reconnaissance has identified areas of outcropping rocks within an area 800 meters long by 300 meters wide. Most of the samples collected in this area are strongly enriched in copper and gold. Strong silicification and brecciation in igneous rocks host the best copper values. Gold occurs in areas with copper and also in silicified zones with low copper values. The overall area is heavily vegetated and the sparse outcrops or washouts indicate an overall clay (sericitic to argillic) igneous with extensive silicified zones which contain higher concentrations of copper and gold than values in the clay altered rocks. Several outcrops of strongly silicified igneous rocks contain zones of massive magnetite with green to blue copper staining or copper sulfide minerals.
The mineralized system appears to cover an area several kilometers in diameter. The limited outcrops suggest the mineralization could be related to a porphyry style copper-gold system, or an IOCG (Iron-oxide-copper-gold) system, both commonly occurring along the Pacific Ring of Fire.