Sombrero

Overview & Highlights

The Sombrero copper-gold property comprises of over 120,000 hectares and is located approximately 340 kilometres SE of Lima in southern Peru.

The property is hosted in the Andahuaylas-Yauri belt and is interpreted to be on the north-western margin of the Eocene-Oligocene aged copper-gold porphyry and skarn belt that hosts the Las Bambas, Haquira, Los Chancas, Cotambambas, Constancia, Antapaccay and Tintaya deposits. The principal target at Sombrero is copper-gold skarn mineralization, which Auryn feels has geological similarities to the Tintaya and Las Bambas mines. However, the samples being collected at Sombrero are copper-gold, rather than molybdenum-gold. In addition, there is a layer of volcanic cover that is between 5-25 meters thick at Sombrero, which is not seen further east where the Los Chancas, Las Bambas and Tintaya mines are located.

Sombrero Project Highlights:

  • Multiple skarn and epithermal bodies hosted by the Ferrobamba limestone and cut by intrusives
  • Major oxide targets from surface
  • 3900m elevation with excellent access to infrastructure
  • Undrilled to date

For Sombrero-related news click here: Sombrero News Releases

Claims Map
Claims Map
Claims Map

Fly-Over Video

Narrated by Auryn’s chief geologist, Michael Henrichsen.

Infrastructure

The Sombrero project has excellent access to infrastructure with dirt roads nearby and hi-tensile power lines over the property.

Comparison to Las Bambas District
Comparison to Las Bambas District
Comparison to Las Bambas District
Road Access
Road Access
Road Access
Power Lines
Power Lines
Power Lines

Exploration

The best results Auryn’s technical team has seen at the project have been in Trench 18, with 30 meters of 1.93% CuEq, 24 meters of 0.73% CuEq and 54 meters of 0.34% CuEq.

Broad zones of oxide copper and gold mineralization (endoskarn) have been encountered within a diorite-monzondiorite intrusive complex. This is peripheral to the main exoskarn target areas between the intrusive body and the Ferrobamba limestone sequence. Importantly, the endoskarn mineralization has been encountered over an approximate width of one kilometer, demonstrating the potential size of the mineralized system at Sombrero.

The encountered mineralized intervals in Trench 18 are separated by an interval where the trench was unable to reach bedrock. If the intervals of copper-gold mineralization are composited together with the area where no bedrock was encountered, using values of zero for both the copper and gold grades in the unsampled part of the trench, Trench 18 has a result of 109 meters at 0.7% CuEq.

Trench highlights are presented in the table below.

Sombrero Trench 2018 – Copper & Gold Significant Intercepts*

TrenchFrom
(m)
To
(m)
Interval
(m)
Cu
(%)
Au
(g/t)
CuEQ
(%)
AuEQ
(g/t)
18SRT-17626860.100.910.631.08
13614260.190.040.210.37
162178160.140.050.160.29
18SRT-181430160.470.100.530.92
4979301.860.121.933.34
79104not sampledbedrock not encountered
104158540.320.040.340.60
182206240.660.110.731.26
230244140.140.020.150.27
*No less than 5m of >= 0.1 g/t Cu, maximum dilution 5m
Metal price used for Eq calculations: Au $1300/oz and Cu $3.28/lb, no adjustments for metallurgical recoveries have been made.
Auryn believes these trenches represent true widths of the mineralized system.

Rock Sampling:

High-grade gold mineralization has been encountered in several discrete structures approximately 1 – 3 meters in width across a 400 meter by 1.5 kilometer long corridor. These samples were taken within the same endo-skarn intrusive body as our trenches with assays up to 193g/t gold. The structures sampled extend up to 1.5 kilometers north of the mineralized trenches and demonstrate a strong component of gold mineralization within the larger mineralized skarn complex. In addition, isolated gold-bearing jasperoid veins were sampled within the Ferrobamba limestone and returned assays up to 7.75g/t gold. This indicates the potential for an exo-skarn body at depth along the contact zone with the intrusive complex. A summary of 2018 rock samples are presented below.

Sombrero Rock 2018 Highlights

Sample IDAu (g/t)Cu (ppm)
W6450621931060
W64506415.05865
W64506511.05205
W6450147.751010
W6450264.791240
W6450253.81410
W6450563.09720
W6450232.27557
W6450241.781180
W6450201.38168.5
W6450630.882229
W6450130.81464
W6450510.758350
W6450290.6081460


Additional Prospects:

The Mollecruz concessions are approximately 1,000 hectares and represent another cluster of mineralizing intrusive bodies in the Sombrero district that are characterized by copper-gold skarn mineralization. The Mollecruz concessions were acquired in June 2018 and include the Good Lucky prospect. The principle skarn body at the Good Lucky prospect demonstrates high-grade copper-gold mineralization sampled over a 600-meter length and over 250 vertical meters. Rock samples graded up to 5.12 g/t gold and 4.29% copper in sulphide mineralization.

In addition, two new prospects, Totora and Uchuy, have also been discovered through sampling. At Totora, Auryn’s geologists have sampled gold values up to 5.07 g/t and copper values up to 3.14%. At Uchuy, strong arsenic and antimony values have been sampled which indicate the potential for proximal base and precious metal mineralization.

Historical surface samples from Sombrero indicate significant copper and gold values. Geological mapping and geochemical sampling were completed over the project in 2007, and high-resolution ground magnetic and induced polarization surveys were completed during 2008. Importantly there has been no drilling that has occurred on the project to date.

2018 Rock & Trench Highlights
2018 Rock & Trench Highlights
2018 Rock & Trench Highlights
Skarn, Porphyry and Epithermal Targets/Occurrences
Skarn, Porphyry and Epithermal Targets/Occurrences
Skarn, Porphyry and Epithermal Targets/Occurrences
Copper & Gold Soil Geochemistry
Copper & Gold Soil Geochemistry
Copper & Gold Soil Geochemistry
Lead & Gold Soil Geochemistry
Lead & Gold Soil Geochemistry
Lead & Gold Soil Geochemistry
2018 IP Chargeability
2018 IP Chargeability
2018 IP Chargeability
Good Lucky - Rock Sample Highlights
Good Lucky - Rock Sample Highlights
Good Lucky - Rock Sample Highlights

Ownership

The Company acquired the rights to the Sombrero property through an option agreement with Alturas Minerals Corp. In order to exercise the Option and acquire a participating interests (“Interest”) for 80% of the Sombrero concessions, Auryn must incur up to US$2.1 million work expenditures within a five year period and make cash payments of $200,000 as follows:

  • $140,000 upon entering into this Agreement which has been paid; and
  • $60,000 on or before the first anniversary of the Effective Date

Upon Auryn having completed its requirements to earn an 80% interest in the Sombrero Project, the parties shall form a customary 80:20 joint venture vehicle. For a period of 1 year after the formation of the Joint Venture (the “Initial Period”), Alturas’ 20% interest shall be “free carried” and Auryn shall have a right to acquire the remaining 20% from Alturas for $5 million

Auryn also entered into a series of agreeements with Corporacion Aceros Arequipa S.A. (“Aceros”) to option three important mineral concessions located within Sombrero. The details can be found here.

Cautionary Wording with Respect to the Mineral Interests

Auryn holds its interests in Peru through Corisur Peru SAC, which controls (among other) certain licenses (including the Huilacollo and Baños del Indio projects) that are located within a special legal zone which runs 50km back from the Peruvian border. As a non-Peruvian company, Auryn’s right to ultimately acquire title over the shares issued by Corisur Peru SAC and to own and/or exploit these licenses requires approval from the Peruvian government. While Auryn is in the process of submitting its applications with respect such the approval and does not currently foresee any legal reason why it would be denied the approval, some risk of denial or delay should be assumed to exist.

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