Geology and Drill Results
Dr. Matthew Gray, Ph.D., was retained by Altair Ventures as an independent geologist
to prepare a technical report that met National Instrument 43-101 requirements.
His report states that "the San Antonio project is prospective for volcanic rock
hosted, low sulfidation, epithermal gold-silver deposits, and intrusive-related
precious metal and polymetallic deposits.
The project hosts structurally controlled zones of gold, silver, and base metal
mineralization hosted by andesites, dacites, rhyodacites, and associated epiclastic
volcaniclastic strata.
Reconnaissance mapping and geochemical sampling of the property show that the system
was capable of creating mineralized zones of economically significant grade."
The reconnaissance evaluation of the project by Dr. Gray validated that the project
is prospective for two target types:
- High grade, structurally controlled, precious- and base-metal mineralized structural
zones or veins.
- Stockwork and/or disseminated zones of gold-silver mineralization, mineable by open
pit or bulk underground methods.
Drilling
Great Panther undertook ten diamond drill holes in 2005 to test a 150m strike
length in the Santo Nino and associated veins. Nine of the ten drill holes encountered
mineralisation, with the best results being 4.87 grams/ton gold and 0.2% copper
over 10.8 meters and 2.58 g/t gold and 0.41% copper over 6.3 meters.
A summary of the entire drilling program is provided in the table below:
| Drillhole |
From (m) |
To (m) |
Thickness (m) |
Au gpt |
Cu % |
Comments |
| DDH05-SN5 |
46.00 |
52.30 |
6.30 |
4.87 |
0.20 |
Santo Niño vein, includes 3m @9.4 gpt Au and 0.26% Cu |
|
60.00 |
62.80 |
2.80 |
2.42 |
0.06 |
footwall portion, Santo Niño vein |
| DDH05-SN6 |
56.70 |
58.70 |
2.00 |
0.27 |
0.18 |
Santo Niño vein |
|
60.70 |
52.70 |
2.00 |
0.31 |
0.52 |
Santo Niño vein |
|
64.70 |
65.70 |
1.00 |
0.14 |
0.12 |
Santo Niño vein |
|
71.70 |
72.70 |
1.00 |
0.14 |
0.01 |
Santo Niño vein |
|
75.70 |
77.70 |
2.00 |
0.35 |
0.10 |
Santo Niño vein |
| DDH05-SN7 |
63.80 |
65.80 |
2.00 |
3.55 |
0.41 |
Santo Niño vein |
| DDH05-SN8 |
no significant intersections, drilling in hangingwall of Santo Niñ vein |
| DDH05-SN9 |
75.00 |
77.00 |
2.00 |
1.84 |
0.11 |
Santo Niño vein |
|
78.00 |
80.00 |
2.00 |
0.24 |
0.09 |
Santo Niño vein |
|
81.00 |
83.00 |
2.00 |
0.14 |
0.10 |
Santo Niño vein |
|
88.00 |
89.00 |
1.00 |
0.37 |
0.16 |
Santo Niño vein |
| DDH05-SN10 |
66.80 |
68.00 |
1.20 |
2.10 |
0.22 |
Santo Niño vein |
|
73.50 |
73.80 |
0.30 |
3.17 |
0.38 |
Santo Niño vein |
|
75.30 |
75.90 |
0.60 |
0.23 |
1.11 |
Santo Niño vein |
|
85.10 |
95.60 |
10.50 |
0.38 |
0.37 |
Santo Niño vein |
| DDH05-SN11 |
62.50 |
63.00 |
0.50 |
0.75 |
0.53 |
El Cordon vein, footwall to Santo Niño vein |
| DDH05-SN12 |
87.00 |
88.00 |
1.00 |
0.12 |
0.20 |
El Cordon vein, footwall to Santo Niño vein |
| DDH05-SN15 |
68.70 |
79.50 |
10.80 |
2.58 |
0.41 |
fault in hangingwall to Santo Niño vein |
| DDH05-SN16 |
29.00 |
29.80 |
0.80 |
10.15 |
1.00 |
Santo Niño vein |