La Celeste Project Argentina

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La Celeste Project
Argentina

This asset is held in a 24-month Exploration Agreement with vendors to convert to an 85% and 15% Joint Venture. TP Energy is in the process of securing an agreement over a new high potential project in Argentina, named La Celeste, situated approximately 50 kilometres westnorth- west of the Company’s Carmen Del Puerto base metal prospect. Reconnaissance sampling within the La Celeste project, which has an area of 190 km2, has already yielded high values for silver and copper, along with anomalous values for cobalt and uranium.

The geology within the La Celeste tenement comprises quartz schists, micaceous schists and amphibolite, with discordant intrusive quartz porphyries and occasional elongate granite bodies. The area within which the encouraging results have been obtained is situated within a north-east to south-west trending structural corridor.

Local cross cutting fractures may have provided a focus for the mineralisation observed at surface.

TP Energy has signed a memorandum of understanding with a local land owner to form a potential Joint Venture with TP Energy 85% and the land owner 15% subject to legal due diligence review. TP Energy plans to secure Mining Titles to 19,010 hectares of copper, silver and cobalt prospective land in the La Rioja Province. The Mining Titles are supported by approved environmental impact studies, social responsibility approvals and samples that have been analysed by the independent laboratories Alex Stewart in Argentina. The sample results show high levels of Copper along with positive anomalies relating to Silver and Cobalt.

Further samples have been independently tested by SGS Laboratories International, showing additional high readings for Copper over 1 percent (11 of 19 samples taken) and a reading of 0.9 grams per tonne of gold. Celeste now represents one of our lead projects in Argentina.

The current site activities are of a reconnaissance nature, aimed at identifying more closely the regional mineralisation setting and controls, coupled with identification of priority areas for detailed follow up. TP Energy will commence more comprehensive exploration of the area once the results of the early reconnaissance became available. The work will include (but will not be limited to):

  • Acquisition and analysis of locally available airborne magnetics.
  • Acquisition and interpretation of ASTER imagery of the region.
  • Detailed geological mapping and surface sampling of key target areas.
  • Ground geophysics over defined targets.

Figure 8 – Collecting Samples, La Rioja