J.K. Mining Corporation’s Ecuadorian mining project lies in the province of Zamora-Chinchipe, in the south of Ecuador, approximately 40 kilometers north of the provincial capital of Zamora and approximately the same distance to the north-east of the city of Loja. The area has seen mining activity for gold and silver for centuries by both the Spanish colonials and the Incas before them.
Zamora has become known as the “Mining Capital of Ecuador” as a result of the numerous gold veins discovered in the area and has experienced significant growth as a result. Access to the project site from Zamora is provided by the E45 highway and a network of secondary roads.
Following completion of initial test drilling, J.K. Mining Corporation has estimated the Zamora-Chinchipe project to hold indicated resources of 7.2 million ounces of gold, averaging 1.58 g/t, with indicated resources of 16.8 million ounces of silver, averaging 9.28 g/t.
Over 5,000 meters were drilled as part of the program, with highlights including hole ZC4-07, which intersected an almost uninterrupted mineralization of gold and silver of over 420 meters from 150m to 570m, with a grading of 2.11 g/t of gold and 7.89 g/t of silver. Hole ZC3-05, hit a 176 meter mineral band width containing 2.36 g/t of gold and 11.12 g/t of silver.
The mineral systems that exist in the project zone include high grade low sulphidation epithermal gold, structural volcaniclastic and breccia chimneys.
J.K. Mining Corporation’s mining interests in Peru lie in the northern Jaen Province, in the Cajamarca Region. The site is approximately 45 kilometers to the south west of the city of Jaen and has good access from primary and secondary roads.
The Jaen project is an approximately 9km by 4 km area situated in a prolific gold and silver producing region of northern Peru. The project is located within a flexure of a thrust and fold belt of tertiary volcanics that runs the entire length of Peru and contains some of the world’s most prospective gold mines, including Lagunas Norte and Yanacocha, two of the worlds largest gold mines.
The mineralized sequences contains large amounts of gold and silver and extend over the project site, with a depth of at least 350 meters and flanked by substantial argillitic alteration. The surface outcropping oxide mineral resource of one of the fault systems, called the “Jaen Corridor”, runs to an average depth of 135 meters along a strike length of 4.1 kilometers. A thin transition layer lies below the oxide mineralization of the Jaen Corridor, beyond which is a non-oxidized material with good gold grade continuing to depth.
The total indicated resources are 185.7 million tons, with a grading of 0.64 g/t of gold and 8.7 g/t of silver.