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Summary Cocha: “A new copper-silver discovery” The Company has received very encouraging results from the Phase I & II diamond drill program on the Company's 100% owned Cocha copper-silver discovery.
Click here to view Cocha Geophysics
Maps & Photos
Technical Report:The Cocha property is located 220 km east of Lima, Peru and is 100% owned by Amera. The style of mineralization discovered on the Cocha property is interpreted by Amera as sediment-hosted copper-silver type, comparable to the giant Lubin Deposit (115 billion pounds of copper, 2.3 billion ounces of silver1) in the Kupferschiefer district of Poland and the White Pine Deposit (18.3 billion pounds of copper and 800 million ounces of silver1) in the Upper Peninsula of Michigan. An academic report titled "Mitu -- Kupferschiefer formations: similarities and differences, Peru -- Poland"2 was presented at the Geological Congress conference in Lima, Peru on October 19, 2006. The presentation makes a comparison and addresses the geological similarities between the Mitu Formation in Peru and the Kupferschiefer Formation, which hosts the giant Lubin Deposit in Poland, utilizing data from studies of samples collected at Amera's Cocha and Mitu copper-silver projects in Peru. The AGH University of Science and Technology of Krakow, Poland and the Company have an ongoing joint academic program to study the metallogenic setting of the Cocha and Mitu copper-silver projects. Click here to view paper in PDF format. Phase II Drill Program The most significant drill hole intercept from the 2007 Phase II program includes 37.9m averaging 3.61% copper and 38.2 g/t silver in vertical hole CO-07-20, up dip from mineralization intersected in CO-06-03. "These results confirm the high-grade nature of the copper-silver mineralization at the Central Cocha zone," stated Nikolaos Cacos, President and C.E.O. "Our focus at Cocha will be to further expand the known high grade copper zones and drill test new targets on the project". The Phase II drill program will be recommencing once additional permitting, road and drill pad construction have been completed, and will test the South Cocha copper-silver zone in addition to definition drilling on the Central Cocha Zone. In the meantime, the Company is planning IP geophysical studies to define outcropping targets at depth. The portion of the Phase II drill program reported herein was designed to further delineate the extent of high-grade copper-silver mineralization intercepted in drill hole CO-06-03 (30.23m grading 2.67% copper and 24.1 g/t silver, see October 17, 2006 News Release) and drill hole CO-06-02 as well as in surface trenching (80m averaging 0.80% copper and 10 g/t silver, see January 13, 2006 News Release). As well 6 holes were drilled to test the northwest extent of the Central Cocha (Discovery Outcrop) trend over an additional 600m of strike length. Table I: Significant Drill Intercepts from the Phase II Program
Table II below provides location, orientation and depths for the Phase II drill holes reported herein. The combined Phase I and II drilling totals 20 drill holes and 3,996m. Table II: 2007 Phase II Drilling
The Phase II drill program demonstrates the complex nature of the stratabound copper-silver mineralization at Central Cocha and the lenticular shape of the mineralized bodies. To date, six diamond drill holes (CO-06-01, CO-06-02, CO-06-03, CO-07-12, CO-07-17 and CO-07-20) have been drilled along a single northeast-oriented fence to outline the geometric shape and size of the "Discovery Outcrop" area of the Central Cocha Zone. Results delineate a high-grade mineralized body that dips 60 degrees northeast, has an average true width of 22m, a down-dip length of 100m and is closed off 100m along strike to both the northwest and southeast by barren drill holes. The vertical depth of the body extends to 100m depth from surface. In addition, three smaller and lower-grade lenticular mineralized bodies were identified in the hangingwall by the Phase II drilling. Drill holes CO-07-13, CO-07-14, CO-07-15, CO-07-16, CO-07-18 and CO-07-19 were drilled to the northwest of the" Discovery Outcrop", extending the tested segment of the zone a further 600m to the northwest. Drilling to date has tested the Central Cocha Zone, defined by copper-silver soil anomalies and outcropping mineralization, along 1km of strike length. Further drilling along the Central Cocha Zone will determine the actual strike length of the high-grade mineralized body. Mineralization at the Central Cocha zone is hosted within deformed lacustrine volcaniclastic stratabound copper-silver zones of the Permian Mitu formation. Chalcopyrite, bornite, chalcocite, cuprite and pyrite are associated with altered carbonaceous agglomerate and ash tuff. Alteration varies from chloritic to silicified and argillic, which patterns suggest a syngenetic genesis of the mineralization. The isolated lenses and variable thickness of the mineralized zones indicate syngenetic structural control, including submarine depressions, growth faults, slumps and debris flows. Drilling was carried out using a man-portable diamond core drilling rig operated by Pac Rim Drilling of Peru. Core was logged, split and sampled onsite according to NI43-101 standards and care was taken to keep the samples in secure areas. All core was sampled and was analyzed by ALS Chemex laboratory in Lima, Peru using AAS and ICP methods. Additional standard pulp samples were included with the sample submittals for QA/QC purposes and show consistent comparison. Check analysis of the mineralization from the "Discovery Outcrop" Zone in hole CO-07-20 was performed by Acme Analytical Laboratories, with results comparing favorably to those from ALS Chemex. Technical information for this press release is presented by Peter Ellsworth, Vice President Exploration for Amera and a Qualified Person as defined in National Instrument 43-101. Cocha Property Expansion Surface Results 1 North Cocha The North Cocha copper-silver target is located 1.8km northwest of the Central Cocha Target. A number of historical surface workings occur in areas of stratabound copper-silver mineralization and occur over a strike length of 800m mainly within five oxidized domains which vary between 90 and 200m in strike with widths between 15 and 20m. To date a total of 95 rock chip samples have been collected in the area over sample widths ranging from 0.3 to 6.3m. Rock sample results for copper range from 3 ppm to 26,500 ppm (2.65%), for a 0.5m chip sample, and average 908 ppm; silver ranges from 0.1 ppm to 8.9 g/t, for a 0.5m chip and averages 1.0 g/t (see Table 1). 550m to the southeast a probable extension to the zone was identified and a total of 18 rock samples were collected over widths of 0.4 to 4.0m. In this area rock chip results for copper range from 8 to 15,300 ppm (1.53%) and average 5305 ppm; silver results range from 0.1 to 16.0 g/t and average 3.7 g/t. The area is underlain by a sequence of grey to dark grey, finely-bedded limestone of the Upper Ordovician Tarma Group, in fault contact with red sandstone and purple volcaniclastic rocks of the Upper Permian Mitu Group. In the mineralized area the limestone has been recrystallized and contains calcite veinlets with disseminated chalcopyrite. Bedding in the area strikes 295° and dips 75° northeast. Two orientations of faulting occur; one related to the mineralization at 295° dipping 75-80° northeast, and a second at 30°-40° dipping 80° southeast that cuts the other orientation. Mineralization appears to be concentrated at the interceptions of these faults. The main area has been mapped at a scale of 1:2,500. Further surface work including soil sampling is required to identify drill targets. South Cocha The South Cocha copper-silver target is located 3.5km south of Central Cocha. The area also has a number of small underground workings believed to date back to the 1960s. It is underlain by carbonaceous red sandstones and purple volcaniclastic rocks of the Permian Mitu Group overlain by the Pucara limestones. Two styles of mineralization are observed: 1) replacement of a Pucara limestone bed near the Mitu contact and 2) mineralization associated with irregular tectonic breccias. Mineralization comprises chalcopyrite, bornite, malachite azurite associated with calcite, pyrite and quartz. The Southern Cocha Zone is traceable for over 900m of strike and varies from 3 to 20m in width with anomalous mineralization over up to 150m width. A probable extension to the South Cocha zone is located along strike 850m to the northwest of the main zone. Three sets of faults in the area have locally brecciated the limestones; 1) a pre-mineralization northwest-southeast trending set, 2) an east-west set and 3) a northeast-southwest one. The northwest-southeast trending mineralized structure extends for approximately 1km with mineralization most concentrated where it intercepts the other two fault orientations. Fresh porphyritic dacite-andesite outcrop along the northwest-southeast fault zone. Work to date has included geological mapping, prospecting and surface geochemistry. Rock chip samples were collected along lines spaced at approximately 300m. A total of 162 rock chip samples, ranging in width from 0.1 to 20m, were collected with the objective of delineating the mineralized structure. Rock sample results for copper range from 2 ppm to 25,300 ppm (2.53%), for a 0.1m chip sample, and average 2,221 ppm; silver ranges from 0.1 g/t to 343 g/t, for a 0.3m chip, and averages 15.3 g/t; lead ranges from <2 ppm to 172,000 ppm (17.2%), for a 0.5m chip sample, and averages 2441 ppm; and zinc ranges from 7 ppm to 5570 ppm, for a 1m chip sample, and averages 523 ppm (see Table 1). 850m northeast of the main South Cocha zone a probable extension was sampled with assays returning up to 3.53% Cu and 127 g/t silver from a grab sample and 2.8% copper and 105 g/t silver from a 0.4m chip sample. Several diamond drill holes are planned to test the Southern Cocha target as part of the upcoming Phase II drill program. East Cocha The East Cocha gold-silver-copper target is located 4.5km southeast of Central Cocha. Numerous old workings exist in the area, some of which are also believed to date back to the 1960s. The area is underlain by red sandstones and volcaniclastic rocks of the Mitu Group. No intrusive rocks have been noted in the area to date. Mineralization comprising chalcocite, chalcopyrite, bornite, covellite, malachite associated with barite, calcite and quartz is hosted by an ash tuff bed. The mineralized zone trends 345° and dips at 75°-80° northeast with mineralization being observed over 1km of strike extent with widths ranging from 0.3 to 3m. To date a total of 13 rock samples have been collected ranging from grab samples to 10m chip samples. Gold values range from <0.05 ppm to 6.7 g/t, over 0.7m, and average 0.93 g/t (see Table 1). Silver values range from 0.5 to 185 g/t, over 0.45m, and average 42.5 g/t. Copper values range from 41 ppm to 60,100 ppm (6.01%), over 1m, and average 17,495 ppm (1.75%). The area is being mapped at 1:25,000 scale and a program of additional rock and soil sampling is underway to further delineate the mineralization and locate drill targets. ALS Chemex Laboratories, an internationally recognized assay service provider, in Lima, Peru and North Vancouver, Canada, performed analyses for the samples reported herein. The technical information contained in this release has been reviewed by Dr. David A. Terry, P.Geo., Vice President Exploration for Amera, a Qualified Person as defined in National Instrument 43-101. Amera Resources Corporation is a metals exploration company focused on the Americas. The Company has three drill-ready projects in Peru; is advancing others to the drill stage; and, is fully funded to carry-out its exploration programs. Amera is constantly evaluating new opportunities through management's network of contacts in the resource sector. The Company is committed to growth and adding shareholder value through precious and base metal discoveries.
Table 1: Rock Sample Highlights from North Cocha, South Cocha and East Cocha Zones
*Note 1 g/t = 1 ppm and 10,000 ppm = 1%
Phase I drill program Completed Phase I drill program on the Cocha Project was focused around the Discovery Outcrop where initial surface rock sampling returned 0.80% copper and 10g/t silver over 80m. The program has been designed to provide a preliminary test of approximately 400m of the strike length along the mineralized trend in either direction from the Discovery Outcrop to approximately 150m vertical depth. A total of 1,394m in eleven diamond drill holes were completed. Highlights from Phase I drill program are provided in Table 1 below. The Discovery Outcrop mineralized trend is defined by northwest-oriented coincident copper-silver soil anomalies which currently extend over 2.2km in strike length with soil geochemical values ranging up to 0.32% copper and 4.7 g/t silver. The copper-silver soil anomalies at Cocha are open in all directions.
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