Llahuin Copper Project
The Llahuin Copper Project is an advanced Copper-Gold-Moly deposit of currently 428kt Cu, 597koz Au in the expansion phase.
The deposits are located close to the city of Illapel, in the Coquimbo Region, 250 kms north of Santiago in Chile, at an elevation of 1,300m, and 8km East of the large El Espino Copper-Gold mine development operated by Santiago listed copper producer Pucobre.
The Company owns 100% of the Llahuin Amapola 1-4 and Ampola I and II exploitation concessions covering approximately 14km².
The company is growing the current Copper/Gold resource:
-428kt Cu, 597k Oz Au
-149mt @ 0.41% CuEq,
And the adjacent (9km West) Colina2 Gold discovery (see more on this project below).
Llahuin is located within a very large mineralised system, noting the El Espino Copper/Gold Mine development 8km west, owned by Pucobre, a large Chilean copper producer.
The Llahuin Project, and surrounding prospects within the company’s tenure have excellent targets to substantially grow the resources, initially concentrating at shallow levels, and then expand to economic depths.
Colina2 Gold Project
The 100% owned Colina2 Gold Project in Central Chile covers an area of approximately 259Ha, located 9km to the northwest of Sociedad Punta del Cobre S.A. (Pucobre) El Espino Copper Mine development.
Following a data review of the soils, drilling and geophysical data available for Colina2, a reinterpretation of the data suggests the gold in soil anomaly may not have been adequately tested previously. The soil data shows a NE-SW trending robust MMI Au in soil anomaly 1150m long with response ratios up to 286. SGS laboratories consider a response ratio for gold over 20 anomalous. (SGS Technical Bulletin 19 MMI Sampling)
A reinterpretation of the magnetic data by a consulting geophysicist shows the anomaly is coincident with a NE-SW trending fault on the eastern side of the anomaly.
A trenching program to test the surface expression of the Au in soil anomaly has been completed. The host rock is an altered grano-diortite intrusive with boxwork textures with hematite-limonite possibly replacing sulfides and magnetite. Some quartz veinlets smaller than 1 mm with a central suture and hematite halo were also observed. Intercepts of up to 12.8g/t gold have been discovered in the trenching program, and the next phase of targeted RC Drilling will follow in Q1 2021.