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Chancery Resources develops its projects using a business strategy. This strategy has its foundation:
Projects El Cafetal Mine Project, Colombia | The HCL Property, B.C., Canada El Cafetal Mine Project, Valparaiso The El Cafetal Mine is a gold, silver and copper project located in the River basin of the Honda Creek on the Eastern flank of the Western Cordillera Mountain range in the municipality of Valparaiso, Antioquia, Colombia. The El Cafetal concession covers an area of 135 hectares with an exploration and exploitation license effective until February 2032. The geology of the zone includes sedimentary rocks, basaltic lava and Andesite of Tertiary age with several veins and veinlets of varying widths and sulfide concentrations up to 80%. The mineralization consists of several veins with thicknesses between 0.15 and 1.1 m, composed of quartz, pyrite and partial free gold in the andesite lava. The veins of 0.15 m thickness show heavy sulfide concentrations of mainly pyrite up to 80% with intermediate zones of rock with scattered sulfides, in the endorsements the salband are common to conform a mineralized zone up to 1.1 m. The mineralization is continuous and in the main tunnel the mineralization presents a direction N85ÿE/85ÿNW with a thickness of 0.17 m with parallel veinlets and thicknesses of 0.005 m and 0.01 m respectively and rock with scattered sulfides. Other directions of stuffed vein lets with sulfides appear in N85ÿE/85ÿNW, N85ÿW/85ÿSW and N80W/50NE. Three denominated sectors were recognized Honda Sector, Nogal sector and Cafetal sector. Honda Sector This sector corresponds to all the existing mineralization that is below the main tunnel named El Pomo.
Zone 1: Waved vein, very weathered and oxidized with thicknesses that vary between 0.4 m and 0.6 m with direction N65ÿW-70ÿ W/85ÿNE-85ÿSW, fitted in lava type andesite. Zone 2: Vein with quartz and sulfides with thickness of 0.05-0.07m oriented N75ÿE /85ÿSE, fitted in lava type andesite. Zone 3: It corresponds to a fault zone oriented N65ÿW/75ÿSW mineralized with vein lets and sulfides scattered with a total thickness of 1 m. Zone 4: Mineralized vein oriented E-W/75ÿS with sulfides. Zone 5: Porphyritic rock sector with veins, quartz and pyrite and sulfides scattered with a direction N75°E/Vertical. Nogal Sector: This sector is located between the Pomo tunnel and the highway that goes from Valparaiso to Caramanta. The vein observed in this sector corresponds to a weathered vein oriented N25ÿW/45ÿSW, fitted in lava weathered with a thickness that varies between 0.30 m and 0.5 m with high oxidation Cafetal Sector
Infrastructure The existing plant infrastructure consists of hammer crushers, a primary mill, a secondary mill and a German table. In addition it has a three phase line transformer and five agitation tanks. Due to the high dips the expansion and exploration of the veins will be made possible by opening the tunnels following the mineralization. Some clearing on the rocks will have to be done by explosives in manual form due to the topography and the use of portable pneumatic equipment.
Vein and sulfides scattered in the sector of the Pomo
Andesite lava sampling with pyrite scattered in the sector cafetal
Left and right veins with 80% and 90% of pyrite with thicknesses of 0.15 m with intermediate zone of scattered pyrite, total thickness of the mineralized zone 1 m, approximately
Different tunnels in the sector Cafetal, two different mineralization spaced by 5 m approximately The HCL Property, B.C., Canada The HCL Property is a mining claim located in Merritt, British Columbia, Canada, and totals 415.04 hectares or 1,026 acres approximately. The HCL mineral claim is comprised of 20 contiguous cells totaling 415.0483 hectares. The center of the property is located at the latitude 50o 2' 14" N and the longitude is 120o 47' 1" W. The claim is motor vehicle accessible from the Town of Merritt, B.C. by traveling 19 miles east along Highway #5 beyond the Village of Quilchena, B.C. to the Minnie Lake cut-off and then for 18 miles south by gravel ranch roads to the mineral claim.
Geology and History The geology of the HCL mineral claim may be described as being underlain by units of the Nicola Group. Some or all of these units may be found to host economic mineralization. The property geological setting offers good underlying possibilities and all overburden areas should be checked if a field program is undertaken. The deposit types that historically predominate in the general area are, as the larger target, as a porphyry-type base metal (copper-gold-palladium or copper-molybdenum) occurrence with peripheral base and precious metal occurrences as veins and/or contact zones of mineralization. The most prolific host in this area is the Nicola Group andesitic tuffs that are often skarned or altered. Any occurrences of Princeton Group sediments, i.e. shales, sanstone, etc. should be checked thoroughly for coal occurrences and possibly coal-bed methane gas possibilities. Physiography The Town of Merritt, British Columbia which lies 37 miles by road northwest of the HCL mineral claim offers much of the necessary infrastructure required to base and carry-out an exploration program (accommodations, communications, equipment and supplies). Merritt B.C. is highway accessible from Vancouver, B.C. in a few hours by traveling over the Coquihalla (toll section) highway, in the time it takes to travel 200 miles. The overnight Greyhound bus service is a popular way to send-in samples and to receive additional equipment and supplies.
The claim area ranges in elevation from 2,850 feet to 3,400 feet mean sea level. The physiographic setting of the property can be described as rounded, open range, plateau terrain that has been surficially altered both by the erosional and the depositional (drift cover) effects of glaciation. Thickness of drift cover in the valleys may vary considerably.
We must explore for and find mineralized material. After that has occurred we have to determine if it is economically feasible to remove the mineralized material. Economically feasible means that the costs associated with the removal of the mineralized material will not exceed the price at which we can sell the mineralized material. We can't predict what that will be until we find mineralized material.
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On the Honda creek towards the inferior part of the main tunnel “El Pomo Tunnel” several mineralized sectors are exposed with veins with thicknesses that vary mainly between 0.05 m and 1 m compound with sulfides.
This sector is located about 80 m over the highway that goes from Valparaiso to the Municipality of Caramanta. In this sector are exposed four veins explored in a length no greater than 20 m, with a general direction N85ÿW/75ÿ-85ÿNE, with thickness that varies between 0.40 m and 1.1 m, with sulfides contents up to 80%.
