The Fredonia project is located straddling the Cauca-Patia Depression and includes parts of both the Western and Central Cordillera. The Fredonia area contains a sequence of upper Tertiary andesitic volcanics and sediments intruded by numerous Miocene hypabyssal diorite-granodiorite porphyry intrusions some of which are spatially and genetically related to gold and copper mineralization. Due to a deflection/dilation and reactivation of the regional Cauca-Romeral fault zone, well-developed structural preparation exists within the project area.
The primary type of exploration target pursued by Colombia Crest Gold on the Fredonia property is for large, intermediate to high-sulphidation, epithermal to mesothermal, gold-silver-copper porphyry-style deposits. Known mineralization immediately adjacent to the Fredonia property includes the intrusive-hosted porphyry-style gold-copper systems of Quebradona and La Mina, which were discovered by B2Gold/AngloGold-Ashanti since 2004 and the historically producing gold mines of Titiribi, Cerro Vetas and El Zancudo. Located 50 km in the south of the Fredonia project, the world class Marmato district contains epithermal intermediate sulphidation type porphyry-style gold-silver deposits, recently reported to contain a 7.5 million ounces measured/indicated and 2.2 million ounces inferred gold resource.
Although most of the property remains completely unexplored, early stage reconnaissance exploration by Grupo de Bullet has identified prospective alteration and mineralization in three target areas of the property: 1) Quebrada La Garrucha, 2) Vereda La Siberia and 3) El Narciso.
The La Garrucha creek target is located within title 7340, to the southeast of Bellhaven's La Mina project and contains both disseminated and fracture fill mineralization within propylitically altered volcanic breccias and porphyry intrusive rocks assaying up to 0.36g/t Au and 9.29g/t Ag over 1.5m. Cutting across these rocks are a series of generally east-west trending vertical fault zones, up to 3m wide and mineralized with quartz, chlorite, pyrite, sphalerite and galena. Assays across these structures returned up to 7.16% Zn and 58g/t Au across 1m.
The Vereda La Siberia target is located to the extreme west of the property, in title 7473Band contains chloritic and phyllic alteration of breccias and intermediate volcanic rocks with fine grained disseminated pyrite alteration. Although the samples taken to date did not contain significant precious metals, the geology of the zone merits further work to identify a larger mineralizing system that may hold economic deposits.
Located to the northwest of Bellhaven's La Mina project, mineralization at El Narciso consisting of disseminated and fracture filling sulfides (principally pyrite) in altered volcanic rocks and intermediate porphyritic rocks. Sulfide content can reach up to 5%, within the argillic and chloritic alteration. Only three rock samples were collected from this area of the property. Whilst the geochemical results are not economic, the geology identified appears quite favourable and warrants further study.
The Fredonia property package is situated in a strategic location in a highly prospective region for porphyry-style and porphyry-related mesothermal-epithermal vein gold (copper) mineralization. Significant alteration and mineralization has already been identified at three separate locations within the Fredonia area in close proximity to the Quebradona and La Mina deposits. Several international mining and exploration companies are currently conducting grass-roots to advanced exploration along strike from, principally south of, the Fredonia property package with considerable success. Target generation by conducting systematic surface exploration and geophysics, followed by drilling is recommended to test the project's potential for hosting an economic gold deposit.
An aggressive exploration program has begun on Fredonia's massive land holdings, emphasizing geologic mapping, geochemical sampling and airborne geophysics to identify potential drill targets and to develop areas for more detailed follow-up work.