MineCore's South American Gold Bearing Properties
Venezuela La Fortuna Gold Property
MineCore International Inc. owns 100% interest in the La Fortuna gold property in Venezuela. For MineCore, having a gold mine will reduce material cost in the production of jewelry that will highlight the sapphires it mines in Madagascar and the Ammolite mined in Canada. Operation such as this, support the companies adjacent business strategy, allowing for MineCore to be very self-sufficient.
The La Fortuna property is a single 520-hectare Exploitation Concession under contract with the C.V.G. (Government of Venezuela) based north of Las Cristinas at Km 88, in the state of Bolivar, Venezuela. The deposits are alluvial and in saprolite veins to depth in fresh rock with broad zones of potassic alteration with gold mineralization. The La Fortuna property is adjacent to the El Foco property owned by Zaruma Resources Inc. which announced on February 24, 2005 that they reported a 75% increase in the estimated saprolite gold resource at Alcaravan, to close to 100,000 ounces (source: Canada NewsWire via COMTEX).
MineCore started work on the property in 1995 and has continued to explore ever since. Work completed to date consists of soil sampling, trenching, auguring and diamond drilling. Soil sampling revealed several areas of good gold anomalies, with values up to 3.64 grams per tonne in the soils. Trenching has revealed four broad zones of pervasive alteration and gold mineralization with ore grade sections up to 3.88 grams per tonne over widths of 9.0 meters running through them. Diamond drilling has confirmed the mineralization indicated in the trenches. The best result in the drilling is 4.71 grams per tonne over 9.0 meters in the Central Zone and 9.09 grams per tonne over 4.0 meters in the Fortuna Zone. Tests to date, on a partial sampling of the property, have indicated resources of 61,882 oz AU from 3,291,570 tonnes of ore in trenched areas.
According to the 2005 field report by Independent registered geologist Peter A. Drobeck, he states "Workers with the CVG in the region have reported anomalous platinum - palladium mineralization with the general region (D. Bending. Personal Communication 2005). Considering that much of the La Fortuna bedrock is believed to be baggro, it is recommend that some orientation - level sampling for PGMs should be included in the ongoing evaluation of the La Fortuna Property" In the same report, Mr. Drobeck described the deposit types as "orogenic". Here's an excerpt:
MineCore International, Inc. management has been in ongoing discussions on the basis of an operating partner for the La Fortuna property to complete exploration and commence production of the concessions.