Summary

Amera Resources has entered into an option to acquire a 100% interest in the 1,075 hectare Cercana porphyry copper project located in Arequipa department, southern Peru. The property is situated within the Paleocene Southern Peru Porphyry Copper Belt, which encompasses major producing copper mines such as Cerro Verde, Cerro Negro, Cuajone, Quellaveco and Toquepala. Although a thin layer of volcanic ash covers most bedrock on the Cercana claims, recent bulldozer trenching and road cuts have exposed copper oxide mineralization grading up 0.22% copper over 24m and up to 2.5% copper from grab samples.

Click here to view Detailed Report

Maps & Photos



Technical Report

The Cercana property is located 21 kilometres southeast of Arequipa city and lies 8 kilometres southeast of Freeport McMoran's Cerro Verde mine where production over the next three years will range from 655 to 705 million tons of copper and 7 to 9 million pounds of molybdenum from both SX-EW oxide ore and sulfide concentrate. The Southern Peru Porphyry Copper Belt is underlain by the La Caldera batholith complex. Regional mineralization is related to porphyry copper forming associated potassic and silicic alteration, quartz-tourmaline breccias and peripheral gold veins and stockwork. Major copper mines including Cerro Verde, Cerro Negro, Cuajone, Quellaveco and Toquepala are aligned along the northwest trending Incapuquio-Chapi fault system.

The Cercana property encompasses gentle topography largely covered by thin Tertiary ignimbrite volcanic flows and Quaternary volcanic ash. Abundant quartz-tourmaline breccia boulders, used as an exploration guide in the district, are scattered across the property. Bedrock underlying the Cercana claims comprises granodiorite, dacite and monzonite porphyry, Yura Group quartzite roof pendants, quartz-tourmaline hydrothermal breccias and post-mineral rhyolitic volcanic ignimbrites. Copper oxide mineralization occurs in quartz-tourmaline breccia and is disseminated within altered monzonite.

In the course of Amera's technical due diligence on the property a total of 47 rock samples were collected, including several long composite chip samples from trenches and road cuts. Values range from <0.005 to 0.404 g/t gold, <0.02 to 302 g/t silver, 43 ppm to 2.5% copper and <1 to 411 ppm molybdenum. The average copper grade for all 47 rocks collected was 0.56% copper. Grades for significant composite channel samples are listed in the table below:

ZONE	Sample width (m)	Cu (%)
Bonito Breccia zone	15	0.797
	3	0.706
Central Porphyry Zone	10	0.183
	20	0.143
	24	0.220

The three composite chip samples from the Central Porphyry Zone were collected along a 70m road cut across mineralized rock. However, 16m of the road cut were not exposed and could not be sampled. The results are reported as three separate composite chip samples that collectively measure 54m of the 70m road cut.

Surface oxide copper minerals include chrysocolla, malachite, tenorite, copper pitch, bronchantite and traces of chalcocite. These copper oxide minerals indicate a leached cap is present at surface on the Cercana. property, and suggest that potential exits at depth for supergene enrichment. Targets on the property identified to date include copper-bearing breccia pipes, porphyry copper zones with supergene enrichment and quartzite-hosted stockwork disseminated gold in roof pendants.

The Cercana claims are held under an option to purchase contract with a private Peruvian company. Amera has the option to purchase 100% of the claims by making escalating payments over four years for a total $2,005,000 plus a 0.5% net smelter return (NSR) royalty. A finder's fee is payable in respect of this transaction, subject to TSX Venture Exchange approval.

Technical information in this press release has been prepared by Peter Ellsworth, Vice President Exploration for Amera and a "Qualified Person" as defined in National Instrument 43-101.