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La Gran Cruzada

Andes Mineral Exploration´s (AMEx) exploration activities are focussed on the Puna Plateau in the Central Andes and extending along the border between northern Chile (Region II) and the Salta Province of NW Argentina. The Puna belt
contains significant copper and gold mineralization including the world‐class Taca Taca porphyry Cu‐Au deposit as well as the Arizaro and Lindero iron‐oxide Cu‐Au projects. The Taca Taca Cu‐Au mine is situated about 230km to the WNW of the
city of Salta, near the Chilean border.

Geology Cu-Au porphyry and epithermal style alteration
Location Westernmost part of the Province of Salta, Los Andes Department, NW Argentina, 450 km west of the City of Salta
Discovered Andes Mineral Exploration S.A.
Elevation Between 4,100 m and 5,100 m
Exploration to date

Desktop Studies: spectral analysis and target-modeling.

Confirmation of mineralization at surface from float chip samples.

Next Phase
(Oct. 2021)
Reconnaissance exploration program Target Area I complimented with field mapping.
Ownership 100% by AMEx
Major Projects in the Puna Atacama
Plateau
Lindero Au porphyry, mine commissioned and in production (Fortuna Silver) 70 km SW; Taca Taca Cu-Mo deposit (First Quantum) 70 km due West; Escondida Cu Mine (BHP JV) 75 km to the WNW in Chile
La Cruzada regional geology

The La Gran Cruzada Cu-Au prospect (“La Cruzada” or the “Project”) is situated in the high Andes in the SW part of the Salta Province of Argentina, in the Department of the Andes, immediately adjacent to the border with Region II in Chile. The highest peaks are the Socompa volcano to the NE and the Llullaillaco to the SW with elevations of more than 6000 m MSL (Fig. 2). The region belongs to the Miocene metallogenic belt of the Andes (Sillitoe, 2010). The Salta province is well endowed with copper and gold mineralization including the Taca Taca deposit to the east and, Rio Grande to the south and the Arizaro project and the Lindero mine to the southeast of the La Gran Cruzada Project.

The geology of this region is dominated by Upper Miocene to Pliocene andesitic stratovolcanoes and dacite domes that are partly covered by Pliocene ignimbrites and pyroclastic sequences (Camus and Castelli, 2021). The geological basement consists of Mesozoic and Paleozoic meta-sediment units that are locally intruded by diorite and granodiorite stocks of the Taca Taca and Chuculaqui Formations.

There are also numerous hypabyssal porphyritic felsic to intermediate intrusions of the Llullaillaco intrusive complex and, more rarely, Mesozoic syenite stocks. These porphyritic intrusions are hornblende- and biotite‐phyric and have high-K calc-alkaline compositions (Kay et al., 1999; Camus and Castelli, 2021). Large parts of the region are concealed by Pliocene ignimbrites as well as andesitic to dacitic volcaniclastic sequences from the Quaternary Socompa volcano.

The structural setting of the region is dominated by regional deep-seated NE- trending basement structures of Paleozoic age that are locally intersected by NW‐trending high‐angle Triassic and N‐S oriented Tertiary faults (Camus and Castelli, 2021). During the Tertiary, compressive tectonics dominated the geological evolution of the area and is documented in N-S trending and west- dipping reverse faults. During intermittent phases of relaxation N-trending normal faults were formed and are best preserved in the higher parts of the region. The location of stratovolcanoes such as Villalobos and Socompa which dominate the morphology of the region appears to be structurally controlled by N‐S trending faults (Camus and Castelli, 2021). The area contains abundant ancient pirquinero workings and gold and copper showings.

La Cruzada prospect geology

The La Gran Cruzada Project comprises 6.568 hectares and it is situated about 15 km to the SW of Socompa volcano that dominates the topography of the area. The prospect geology is dominated by Tertiary andesitic to dacitic volcaniclastic
sequences that are covered by ignimbrites in places. The rocks are overprinted by widespread and texturally destructive hydrothermal alteration, especially along NW- or NE-trending structures or at their intersections. Vuggy textures of
andesite units are common (Figs 4 and 5). Airborne spectral analysis reveals that the hydrothermal alteration assemblages mainly consist of pyrophyllite as well as Ca‐ and K-alunite phases. The center of the prospect contains a large zone of
clay-sericite alteration, measuring about 3.5 km across.
Although part of the clay alteration could be attributed to late-stage volcanic activity and de-gassing of Socompa volcano, the formation of significant alunite-pyrophyllite alteration requires much higher temperatures, revealing a increased
potential for a concealed porphyry Cu system at La Cruzada.

Geographic location of the La Cruzada

HYDROTHERMAL ALTERATION AND MINERALIZATION

An algorithm-based remote sensing interpretation of multi- and hyperspectral data from the central part of the La Gran Cruzada property reveals advanced argillic alteration assemblages including pyrophyllite as well as K‐ and Na‐alunite,
respectively. The documented hydrothermal alteration assemblage is interpreted as a lithocap overlying concealed porphyry Cu centers and locally emplaced by outcropping high‐sulfidation epithermal‐style hydothermal breccias containing up to 4.1 g/t Au. The geological setting and alteration mineralogy favourably compare with the world‐class Taca-Taca porphyry Cu‐Au deposit in the vicinity.

Three initial reconnaissance rock chip sampling programmes were conducted, and 38 rock samples were recovered and subsequently processed and assayed at MSALabs in San Juan, Argentina and Vancouver, Canada respectively.

The Miocene andesites dominating the property are overprinted by advanced argillic alteration assemblages including Na‐alunite, K‐alunite and pyrophyllite as well as vuggy silica textures. Rock chip samples of oxidized hydrothermal breccias with strong advanced argillic alteration returned high Mo contents of up to 7g/t (Sample LC‐08B) and up to 4.1 g/t Au (Sample MLC‐030), respectively.

Comprising an oxidized and strongly argillic altered hydrothermal breccia containing large subangular clasts with quartz‐hematite stockwork veining is documented in Figure 8. Both hydrothermal breccias and their andesitic wall rocks are overprinted by intense and pervasive advanced argillic (both K‐ and Na‐alunite) alteration. The outcrop of sample MLC‐030 measures about 10m across and is located about 1000m to the west of the la Laguna Tecar.

distribucion y alteraciones la cruzada

Outcrop map showing exposures of advanced argillic altered andesite units and reconnaissance rock chip sample locations (blue). Argillic alteration assemblages are outlined in yellow; advanced argillic alteration (Na‐alunite, K‐alunite, pyrophyllite) assemblages are shown in orange; intense silicification is illustrated in red, respectively. Note the zoned lithocap alteration zone in the northern part of the property which corresponds to a large magnetic doughnut anomaly discussed below.

Rock chip sample la cruzada

Rock chip sample of oxidized hydrothermal breccia overprinted by strong advanced argillic alteration (Sample LC‐08B; 7.0 g/t Mo).

Reconnaissance Phase I (Field, May 2021)
Two reconnaissance trips were made to follow-up on hyperspectral vector-targeting and tracking down porphyry-type hydrothermal alteration assemblages at La Cruzada during the late Autumn season. AMEx hired a group of professional, High-Andes mountaineers to conduct the first ever ascent to the Cerro Tecar. During the campaign only a limited amount of rock chip samples were collected and brought to Salta for further analysis. Initial (pXRF) studies of one float chip sample revealed significant Cu, Au and Ag values. Whole-rock ICP-MS analyses and polymetalic mineralization confirmation followed. Sample RCH-CR-001 is considered the first piece of proof of the AMEx investment thesis. Segemar geophysical map showings indicate magnetic anomalies that call for systematic large-scale field exploration efforts on the property.

Material

Lithocap, polymetallic mineralization and magnetic “doughnut”-shaped anomalies make La Cruzada a prime porphyry and HSE exploration target.