PERU COPPER PORPHYRY PORTFOLIO - Pembrook Copper Corp. … · 2014. 3. 13. · copper oxides ....

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PERU COPPER PORPHYRY PORTFOLIO March 2014

Transcript of PERU COPPER PORPHYRY PORTFOLIO - Pembrook Copper Corp. … · 2014. 3. 13. · copper oxides ....

Page 1: PERU COPPER PORPHYRY PORTFOLIO - Pembrook Copper Corp. … · 2014. 3. 13. · copper oxides . Pecoy Porphyry looking west . 1,800m elevation . Pecoy – Copper Porphyry System •

PERU COPPER PORPHYRY PORTFOLIO

March 2014

Page 2: PERU COPPER PORPHYRY PORTFOLIO - Pembrook Copper Corp. … · 2014. 3. 13. · copper oxides . Pecoy Porphyry looking west . 1,800m elevation . Pecoy – Copper Porphyry System •

Forward Looking Statements

• Certain statements included in this presentation constitute forward-looking statements, including those identified by the expressions “anticipate”, “believe”, “plan”, “estimate”, “expect”, “intend”, “may”, “should” and similar expressions to the extent they relate to Pembrook Mining Corp. (the “Company”) or its management.

• The forward-looking statements are not historical facts but reflect current expectations regarding future results or events. This presentation contains forward-looking statements, and are based on current expectations and various estimates, factors and assumptions and involve known and unknown risks, uncertainties and other factors.

• Any forward-looking statements represent the Company’s estimates only as of the date of this presentation and should not be relied upon as representing the Company’s estimates as of any subsequent date. The material factors and assumptions that were applied in making the forward-looking statements in this presentation include:

• (a) execution of the Company’s existing plans or exploration programs for each of its properties, either of which may change due to changes in the views of the Company, or if new information arises which makes it prudent to change such plans or programs;

• and

• (b) the accuracy of current interpretation of drill and other exploration results, since new information or new interpretation of existing information may result in changes in the Company’s expectations. Readers should not place undue reliance on the Company’s forward-looking statements, as the Company’s actual results, performance or achievements may differ materially from any future results, performance or achievements expressed or implied by such forward-looking statements if known or unknown risks, uncertainties or other factors affect the Company’s business, or if the Company’s estimates or assumptions prove inaccurate. Therefore, the Company cannot provide any assurance that such forward-looking statements will materialize. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

• The Qualified Person (QP) for Mexico is Henry Marsden, and Bruce Harvey is the QP for projects in South America.

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Company Highlights

• Management and Board experienced in exploration • Proven track record of exploration success:

– Aurora Platinum Group – sold to FNX Mining – Lake Shore Gold Corp. – 2014: 130,000 – 160,000 oz producer

• Pembrook raised over $108 million private capital to date • $20 million Cash Balance at December 31, 2013 • Last financing in June 2013

– $8 million placement at $2.50 per share • Four Porphyry CU projects in Peru

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48%

9.7% 9.3%

7%

26% Founders, Directors and Management

Chinalco Resources

Romero Group

Teck, Hochschild, Sprott, RBC, BMO

Others

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Management & Directors

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MANAGEMENT

Brian Booth President & Chief Executive Officer April Hashimoto Chief Financial Officer Bruce Harvey Executive VP & President, South America Henry Marsden VP Exploration, Mexico Angela Betteridge Corporate Secretary, Director of Corporate Communications Buks Lubbe Chief Geophysicist, South America

BOARD OF DIRECTORS

Alan Moon Chair of the Board John Black Brian Booth Daniel Innes Stephen Kurtz

Anthony Makuch

Kevin McArthur

Richard Petersen Wang Dongbo

Page 5: PERU COPPER PORPHYRY PORTFOLIO - Pembrook Copper Corp. … · 2014. 3. 13. · copper oxides . Pecoy Porphyry looking west . 1,800m elevation . Pecoy – Copper Porphyry System •

Share Structure

Common shares 136,784,987 Stock options 10,071,250 Fully diluted* 146,856,237

Cash position* Cdn $20 million

Last private placement June 2013 3,222,098 shares for cash proceeds of $8 million *At December 31, 2013

$2.50 / share

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2013 Overview

• Completed Cdn$8 million private placement – $2.50 per share

• Cdn$20 million cash position - Dec 2013 • Exploration focus - 4 copper porphyries in Peru

– Pecoy (Cu,Mo) – Tororume (Cu,Mo) – Acero (Cu,Mo) – Huiniccasa (porphyry/skarn Cu,Mo,Zn,Ag,Fe)

• Finalizing joint ventures – Lidia Cu – Au (IOCG) and Hurricane (Ni,Cu,PGE)

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Porphyry Projects - Southern Peru

• Pecoy • Tororume • Acero • Huiniccasa

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Pecoy – Copper Porphyry

Tororume – strong surface Cu geochemistry

Acero – Cusco Department

Acquisitions & Progress

Pecoy • 80% (Earning) • Recognition of leached cap • Cu Oxides, supergene enriched

and good grade primary sulphides Tororume • 100% Pembrook • Discovery of 2 new porphyries Acero • 100% (Earning) • Previous drilling (2000)

135m @ 0.24% cu Huiniccasa • 100% (Pembrook) • Phase 2 drilling to resume to

expand on large skarn system and test porphyry targets (Oct 2013)

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Chalcocite copper oxides

Pecoy Porphyry looking west 1,800m elevation

Pecoy – Copper Porphyry System

• Large system – Potential for >0.5BT • Encouraging preliminary drill results

– 389 metres @ 0.37% copper • Good access, close to coast, water, power

and supportive community • Pembrook successful bid (5 majors bid)

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1. 0 x 1.5 km

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Pecoy Project – Regional Setting – Coastal Porphyry Belt

• The southern Peru Coastal Porphyry Copper Belt hosts several large porphyry copper deposits:

• Zafranal 510Mt @ 0.36% Cu

• Quellaveco 213Mt at 0.94% cu and 761Mt at 0.57% cu

• Cerro Verde 1Bt at 0.51% cu

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Pecoy – Regional Geology

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Pecoy Porphyry System

Tororume (Cu-Mo)

Arirahua Gold Mine Pecoy (Cu-Mo)

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H-01

H-02

H-09

H-10 H-11

H-05

H-07 H-04 H-03

H-08

Pecoy – Interpreted Geology

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500 m Claim boundary

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DDH-05 67.20m Gneiss Granodiorite

Monzogranite Porphyry

Metasediments

Breccia

Pecoy - Geology

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H-10, 11

Jarosite Leached Cap Leaching after Pyrite

Strong Hematite-Goethite Near H-02

Leaching after Chalcopyrite

Hematite-Goethite Leached Cap

Pecoy – Oxide Mapping

• All holes except two drilled in Jarosite Leached Cap • Two holes drilled in Hematite-Goethite Leached Cap • H-02 105 m @ 0.537% copper • H-09 72 m @ 0.45% copper

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Pecoy – Oxide Mapping

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Cover Roof Pendant Hematite

Goethite

Jarosite

H-05

H-03

H-08

H-01

H-02

H-09 H-10 H-11

H-07

H-04

Hem-Goe Leach Cap

Outcrop prospective area 0.6 x 0.3 km

Jarositic Leach Cap

500 m Claim boundary Copper oxide occurrences

Goethite

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Pecoy – Hole 2

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Pecoy – Hole 2 - Porphyry

• Primary Sulphide Zone – At 325m downhole

0.58% Cu

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• Chalcocite Zone – (1.0% Cu)

• Copper Oxide Zone – At 104.8m downhole

(0.88% Cu)

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Drill hole traces colored with percentage copper values with

red > 0.5% Cu

Looking north -west

Enrichment Zone

Lixiviation

Oxides CuOx ± CC Traces

H-02 H-09

Interpretation from Core Logging

The chargeability model suggests the potential for more secondary enrichment to the north Hypogene

Pecoy – Ground IP Survey

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H-09 H-02

Chalcocite zone Strong chargeability

300 m

Copper Oxide zone

2D chargeability section through Pecoy drill holes H-02 and H-09

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Pecoy – Second Target – Hydrothermal Breccia

• Biotite – Magnetite + Chalcopyrite Breccia – Best Intervals:

• 36 m @ 0.34% • 12 m @ 1.12%

• Quartz – Anhydrite + Chalcopyrite + Pyrite Breccia – Best Interval:

• 18 m @ 0.35%

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H-05 138.4m 2.15% Cu; 0.34 g/t Au

H-08 249.7 m 0.39% Cu

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Pecoy – North Area Roof Pendant

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Roof Pendant

H-05

H-03

H-08

H-01

H-02

H-09 H-10

H-11

H-07

H-04

500 m Claim boundary Copper oxide occurrences

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Altered and Mineralized Porphyry below with pyrite + chalcopyrite

Capping Ridge

Weakly Altered Metamorphic Rock Capping Altered/Mineralized Porphyry

Pecoy – North Area – Covered by thin Basement Rocks

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Metamorphic Roof Pendant

Mineralized Porphyry

Chlorite altered Metamorphics

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Pecoy – Copper Porphyry System

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Secondary Target Breccia Zone

Cu (+Au)

Primary Target Central Potassic Core

Supergene Blanket

H-05

H-03

H-08

H-01

H-02

H-09 H-10

H-11 H-04

Primary Target Cu (+ Mo, Au)

500 m

Claim boundary Copper oxide occurrences Planned Holes Phase I Permit

Planned Holes Phase II Permit

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2,200

2,000

1,800

1,600

1,400

Breccia Pipe Potassic Alteration

Mineralized 2nd Mineral Event

Porphyry Core Potassic Alteration Main Mineral Event

Ore/Target

Phyllic Alteration Quartz-Sericite-Pyrite

marginal shell to system 0.1-0.2% Cu

Propylitic Alteration Chlorite, Epidote

Outboard Barren

Supergene Blanket Oxide

Supergene Sulfides

Supergene Blanket

South North

Pecoy – Alteration Model – Mineralization

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Cu (+ Au)

Cu (+ Mo, Au)

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View to Northwest

Tororume Project – Two New Copper Porphyry Discoveries

• Two new Porphyry Cu discoveries by Pembrook • Strong Copper-Molybdenum surface channel rock sample assays • Mineralization defined over a large area (6km X 3km) • In Pecoy District – 6 kms north of Pecoy Project

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TORORUME (Cu-Mo)

PECOY Cu-Mo

Tororume Porphyries – Location

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/

8 kms

Arirahua Mine (Au)

GEOLOGY Granodiorite Diorite Quartz Diorite Gneiss Complex Volcanic Rocks

Fault

Target Area

Porphyries

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Tororume Main Porphyry

La Yesera

Pecoy Porphyry

Tororume – Pecoy District

• Tororume 9,330 hectares • Pecoy 2,000 hectares • La Yesera 5,000 hectares • New porphyry Cu-Mo

district in the Coastal Porphyry Belt.

• Multiple copper systems • Near coast (<100km) • Road, water and power in

close proximity

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10 km

Tororume East Porphyry

Pembrook Property

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Tororume – Alteration

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2 km

[

Main Target

East Target

ALTERATION Argillic Alteration

Propylitic

Chloritization

Chlorite – Quartz - Sericite

Pyritization

Silicification

Phyllic Alteration

Potassic

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West

North

Post-Mineral Pyroclastic

Flows

Pyrite Halo

Potassic Alteration

OPEN

Potassic Zone

Phyllic Zone

Propilitic Zone

Pyrite Halo

ALTERATION

Tororume – Main Potassic Zone

• Looking across Quartz Diorite with “potassic” alteration

• Secondary Copper Oxides, Molybdenite and abundant Chalcopyrite – disseminated and veinlets

• Zone open to east and southeast

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Looking Southeast

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500 m

Camp

Pyrite Halo

Pyrite Halo

Pyrite Halo

Open

?

Tororume – Main Potassic Zone Geochemistry Cu (%)

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Secondary Biotite, Kspar 500 m by 300 m Open east and south 49 channel samples assayed up to 3.73% Cu

Potassic Zone

Phyllic Zone

Propilitic Zone

Pyrite Halo

ALTERATION ?

Looking East

CU (%) > 1.00

0.50 – 1.00

0.20 -0.50

0.10 - 0.20

0.03 – 0.10

<0.03

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Cu % Mo %

3.729 0.009

2.437 0.110

0.755 0.006

0.583 0.004

0.550 0.005

0.535 0.003

0.531 0.026

0.529 0.004

0.505 0.004

0.477 0.011

0.474 0.004

0.457 0.003

0.405 0.032

0.403 0.004

0.370 0.004

0.366 0.004

0.362 0.046

0.343 0.002

0.340 0.009

Cu % Mo %

0.340 0.006

0.311 0.003

0.307 0.243

0.306 0.011

0.295 0.009

0.289 0.003

0.286 0.005

0.279 0.004

0.278 0.010

0.272 0.009

0.269 0.002

0.261 0.003

0.237 0.001

0.232 0.003

0.230 0.005

0.180 0.003

0.154 0.013

0.153 0.002

0.152 0.003

Potassic Zone 0.531% Cu; 0.026% Mo

Potassic Zone

Tororume – Main Potassic Zone – Geochemistry Cu, Mo

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Rock Chip Channel Samples

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Tororume – Breccia with Secondary Copper

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15.6% Cu Phyllic Zone 0.2% Cu

Tororume – Main Phyllic Zone

• Phyllic Zone • Strongly Leached • Similar to Pecoy • Clay after Sericite • Strong Cu Oxide Mineralization

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Chalcocite Blanket

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Tororume – Main Phyllic Zone Alteration Cu Discovered Jan 2013

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Phyllic Zone

Potassic Zone

CU (%) > 1.00

0.50 – 1.00

0.20 -0.50

0.10 - 0.20

0.03 – 0.10

<0.03

ALTERATION Argillic Alteration

Propylitic

Chloritization

Chlorite – Quartz - Sericite

Pyritization

Silicification

Phyllic Alteration

Potassic

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6 km

New East Zone 4 km east of Potassic Zone Strong alteration Elevated Cu Geochemistry

CU (%) > 1.00

0.50 – 1.00

0.20 -0.50

0.10 - 0.20

0.03 – 0.10

<0.03

Tororume – Second Large System to East

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2 km

GEOLOGY Manganese

Chlorite - Pyrite ± Epidote ± Calcite

Pyrite Quartz-Sericite-Pyrite

Potassic (secondary biotite ± ksp)

East Zone

Main Target

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Tororume – East Zone Geochemistry Cu Discovered Aug 2013

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500 m

CU (%) > 1.00

0.50 – 1.00

0.20 -0.50

0.10 - 0.20

0.03 – 0.10

<0.03

East Zone

ALTERATION Argillic Alteration

Propylitic

Chloritization

Chlorite – Quartz - Sericite

Pyritization

Silicification

Phyllic Alteration

Potassic

GEOLOGY Young Volcanics

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0.5 km x 1.0 km

Looking Southeast

Potassic Biotite; Mt + Qtz Veinlets Chalcopyrite, pyrite

Pyritization

Granodiorite Clay-Ser-Quartz

Chlorite-Epidote/Propylitic Chalcopyrite, Mo, Cu Oxide

Quartz-Chlorite-Sericite Moderate stockwork Chalcopyrite, pyrite, molybdenite

Post Mineral Volcanic Cap

Tororume – East Zone

• Large system – 3 km x 1.5 km • Potential for multiple porphyries

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Regional 2013 airborne outline

Tororume

5 km

Tororume Geophysics

• Geophysical survey specifications

• Geology • Airborne geophysics • Ground geophysics • Observations

Pecoy

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1000 m

Geophysical Survey Locations

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Porphyry Targets

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1000 m

Chargeability depth slice at 130 m below surface

Ground IP Survey - Chargeability

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-3,000

-2,500

-2,000

-1,500

Pyrite Halo Margin to System

Porphyry Ore Body

Phyllic Zone Strong Leaching

Moderate Cu + Mo

Potassic Zone Strong Cu + Mo

Fresh

Fresh

Fresh

ALTERATION Propylitic Quartz-Sericite-Pyrite

Potassic

Tororume – East Zone – Covered Porphyry Model

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“Clay” Leached Zone with secondary copper

1.73% Cu, 0.02% Mo

Tororume Summary

• Widespread alteration • Similar setting to Cerro Verde • 2 new porphyry systems • Extensive copper

mineralization from surface rock geochemistry

• Strongly anomalous molybdenum geochemistry

• Potential for additional porphyry discoveries

• New discovery - never drilled • Pembrook drilling planned for

2014

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Cu oxide in leached zone

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Las Bambas – Xstrata 1.1Bt @ 0.77% Cu

La Haquira – 1st Quantum 700Mt @ 0.57% Cu

Dolores – Zincore

Antapaccay – Xstrata 812Mt @ 051% Cu

Tintaya – Xstrata 295Mt @ 1.2% Cu

Quechua 680t @ 0.38% Cu

ACERO

CORPORAQUE

Constancia – Hud Bay 480Mt @ 0.33% Cu

Multiple Major Deposits

20km

Acero – Porphyry Project

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Acero – Overview

Southern Peru (2000) • Altered feldspar porphyry • Potassic alteration • Copper oxides and chalcocite • Two zones:

(200 m by 700 m and 800 by 1,200 m)

• Drilled 16 diamond holes 3,800 metres

Golden Alliance (2009) • Limited Surface Sampling • 1.15% Cu over 30 m • 0.74% Cu over 50 m • 0.56% Cu over 50 m • No additional work Pembrook • Acquired in late 2012 • Community effort in progress

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0.64 0.70

0.48 0.56

0.74 0.42

0.46 7.29 1.15

0.48

0.55 0.47

0.55

1 km

Cu (%) ≥ 1.00 0.35 to 1.00

0.05 to 0.10 < 0.05

0.10 to 0.20 0.20 to 0.35

Acero – Porphyry – Copper Rock Geochemistry

• Good Surface Geochemistry – Cu, Au, Mo

• Large Area • Multiple Porphyry Events

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ROCK UNIT

Alluvium, Colluvium

Diorite Porphyry

Microdiorite

Diorite Porphyry

Quartz Diorite Porphyry

Monzonite to Diorite Porphyry

Granodiorite Diorite

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TUN-16 12m @ 0.12% 12m @ 0.16%

TUN-10 TUN-15

TUN-1 21m @ 0.15% No data below 210m

TUN-2 45m @ 0.23% with 9m @ 0.51% No data below 45m

TUN-4 TUN-14

TUN-13 36m @ 0.17%

TUN-5

TUN-3 99m @ 0.22% with 27m @ 0.33% No data below 111m

TUN-6

TUN-8 TUN-12 294m @ 0.20% With 135m @ 0.24%

TUN-11 18m @ 0.12%

TUN-7

TUN-9

1 km

Acero – Porphyry Copper – Previous Drilling

45

ROCK UNIT

Alluvium, Colluvium

Diorite Porphyry

Microdiorite

Diorite Porphyry

Quartz Diorite Porphyry

Monzonite to Diorite Porphyry

Granodiorite Diorite

Drill hole No assays or partial assays

Drill hole With assays

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Acero – Porphyry Copper – 2013 Plan

• Close proximity to several copper mines

• Large porphyry system • High-grade surface Cu assays • Good potential for economic

deposit • Ability for rapid advance to resource • TUN-5 Drill Log, no assays available • Porphyry

– Strong Potassic Alteration – Bornite – Chalcopyrite – Molybdenite

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Huiniccasa Highlights

• Large Cu-Zn-Ag-Fe-Mo Skarns associated with 3 clustered porphyry targets

• Geological Review – Good potential for high-grade

copper skarn mineralization – Numerous Cu-Zn Skarns

outbound from porphyry targets

– Southern Skarn and three porphyry targets adjacent to main Skarn identified for drilling in 4th quarter 2013

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Huiniccasa – Regional Setting

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Huiniccasa – Good Infrastructure Gas Pipeline, Road Network

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Huiniccasa – Skarn

• Large Skarn system • Abundant polymetallic mineralization • Strong surface geochemistry • Potential high-grade Skarn porphyry

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Manto II Ag 49.8g/t Cu 4.57%

HUI-7: 44.7m 1.04% Cu, 29.7g/t Ag

15.0% Zn

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Huiniccasa – Mineralized Skarn

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Huiniccasa – Magnetics

52

Huiniccasa Skarn 1.1 km x 150 to 450 m

Huiniccasa South Skarn 450 x 125 m

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HUI-11 (437.2) HUI-10 (379)

HUI-11 (437.2) HUI-10 (379)

16m @ 1.1% Zn

10m @ 1.6% Zn

12m @ 0.04% Mo

52m @ 0.12% Mo

23m @ 0.3% Cu

23m @ 0.4 % Cu

23m @ 5.8 g/t Ag

13m @ 0.6% Cu

13m @ 13.2 g/t Ag

23m @ 1.6% Zn

11m @ 0.08% Mo

20m @ 0.3% Cu

13m @ 0.5% Cu

Molybdenum (%) > 0.1

0.05 to 0.1

< 0.0015

0.005 to 0.01

0.01 to 0.05

0.0015 to 0.005

Zinc (%) > 5.0

1.0 to 5.0

0.015 to 0.1 < 0.015

0.1 to 0.5

0.5 to 1.0

Silver (g/t) > 50 30 to 50

1 to 5 < 1

5 to 10 10 to 30

Copper (%) > 1.00

0.5 to 1.0 0.1 to 0.5 0.05 to 0.1 0.015 to 0.05 < 0.015

Huiniccasa – Hole-10 & Hole-11

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Section L5

Huiniccasa – Section Map

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Bedding Fracture Joint Joint Filling Vein Dip Fault Direction Fault Fault Sections Archaeological Site 2013 Drill Platforms

Metamorphosed Andesite Epidotization Chloritization Green Garnet Skarn Brown Garnet Skarn Green and Brown Garnet Skarn Garnet Skarn with Magnetite Semi Massive Magnetite Skarn Massive Magnetite Skarn Massive Pyrrhotite – Magnetite Skarn Calc-silicate Marble Silicified Silty Limestone Marble Hornfels

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West East Metres

Andesitic pyroclastic and flows

Porphyry Cu-Mo

Green Garnet with Magnetite Exoskarn

Granitic Stock

Marble

Hornfels

Porphyry Target

High Grade Skarn

Huiniccasa – Hypothetical Section L5

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Drill Plan 2013

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Huiniccasa – Section L5

56

Bedding Fracture Joint Joint Filling Vein Dip Fault Direction Fault Fault Sections Archaeological Site 2013 Drill Holes

Metamorphosed Andesite Epidotization Chloritization Green Garnet Skarn Brown Garnet Skarn Green and Brown Garnet Skarn Garnet Skarn with Magnetite Semi Massive Magnetite Skarn Massive Magnetite Skarn Massive Pyrrhotite – Magnetite Skarn Calc-silicate Marble Silicified Silty Limestone Marble Hornfels

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Huiniccasa – Geological Cross Section

57

Mitu Volcanics

HUI-16

HUI-14

HUI-12

HUI-11

437 m

359 m 621 m

608 m 500 m

3,400

masl

Granite

HUI-17

Projected 2,200

3,000

2,400

2,600

2,800

3,200

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58

Orion LOCATION THICKNESS(m) NOTE METAL

2-4 Ag-Cu Mv-UH contact

Zn-Cu-Ag-Fe(Mo) 10-50 top Main

bottom Main Cu-Mo(Ag-Zn)Fe 20-40

Mo 20-40

middle Main 20-40 Fe

Supergene enrichment Ag to 849g/t Cu to 2.5%

Mo +100 within Granite

above, in UHmb 6-14 Zn-Ag-Cu(Mo)

within, beneath LHsls

MANTO 1

MANTO 3

MANTO 2

MANTO 4

MANTO 5

MANTO 6

MANTO 7

Huiniccasa – Skarn, Mantos

Page 59: PERU COPPER PORPHYRY PORTFOLIO - Pembrook Copper Corp. … · 2014. 3. 13. · copper oxides . Pecoy Porphyry looking west . 1,800m elevation . Pecoy – Copper Porphyry System •

Summary

• Pembrook is well financed – Cdn$24 million in the treasury

• Strong portfolio of Cu Porphyry projects in Peru • 25,000 metres of drilling planned on 4 projects in

2013 - 2014 • Objective

– Preliminary Cu resources estimates by end of 2014

• Joint ventures – Lidia Cu – Au (IOCG) and Hurricane (Ni,Cu,PGE)

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Contact

For further information please contact:

Brian Booth, President & CEO Tel: 778 327 6540

1160 – 1040 West Georgia Street Vancouver, BC V6E 4H1 Canada

www.pembrookmining.com [email protected]

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www.pembrookmining.com © Pembrook Mining Corp. 2014