The Company has now selected and given priority to two of its Chilean projects:
1. Llahuin Copper-Gold Project located 250 kms north of Santiago
2. Chitigua Copper Project located 270 kms northeast from the port city of Antofagasta
In addition, the Company owns 12 other exploration project areas, principally prospective for copper-gold targets:
• Las Santas
• San Jose
• El Arrayan
• Mantos Grandes - which has been farmed into by ASX LIsted Cobre Montana (ASX:CXB)
• Santa Gracia/Chacay
• Tres Cruces
• Romeral (Juan Soldado)
and Arenas del Sur concessions, which are prospective for mineral sands.
The Company is currently focussing its activities on exploration works, which include IP surveys, RC and DDH drilling, at the Llahuin Project and surrounding areas in the Coquimbo region.
US$5 million share placement was completed in November 2012 to Lundin Mining Corporation in tandem with a farm-in agreement on the Llahuin Project. Lundin Mining has since funded $3M on Llahuin exploration spending and under the terms of the farm-in agreement, now sole funds all Llahuin Project exploration work.
A separate agreement with Lundin Mining is in effect for areas nearby but outside of the Llahuin Project area.