Just 6 km west from Mantoverde IOCG deposit (640 Mt@ 0.47% Cu) Kura 103 contains several targets prospective for IOCG-type systems, controlled by two main NW and NS faults associated to the Atacama Fault System. Target (i) tourmaline breccia veins grading 1.78% Cu + 8.5g/t Au +0.12% V and Target (ii) multiple vein systems with grades up to 2.51% Cu + 17g/t Au + 0.21% V. There are multiple IOCG veins (11) of 150 to 300m long strike.
ATICO MINING (TSX-V:ATY; OTC:ATCMF) has announced plans to acquire TOACHI MINING (TSX-V:TIM; OTC:TIMGF) which will add the La Plata project in Ecuador to the company’s El Roble mine in Colombia. The agreement will create an interesting value proposition for shareholders, with Toachi shareholders seeing an approx. 49% premium.
Great Panther (TSX: GPR; NYSE American: GPL) has approved a positive production decision for its Coricancha gold-silver-lead-zinc-copper mine in Peru, with commercial production looking likely to begin within the first half 2020. The decision was bolstered by the recent Bulk Sample Program, confirming assumptions made in the PEA. The production will be an important addition to the company’s other operations in Mexico and Brazil.
Kaizen Discovery (TSXV:KZD) has received permitting at the Pinaya Copper-Gold project in Peru, and will therefore begin work to expand the resource and test targets with drilling. Pinaya sits on the same belt as well known porphyry and skarn systems, including Las Bambas (MMG), Constancia (Hudbay) and Haquira (First Quantum). Kaizen will also be carrying out a financing and converting outstanding debt to equity, putting the company in a stronger position to advance Pinaya.
4 x 1.5 km Ag - Au silver epithermal veins footprint, economically exploited since 1811. Immediately adjacent to Cortadera porphyry – where intensive drilling is being carried out by Hot Chili aiming to increase reserves for the Productora project. The Cortadera discovery in 2010 suggest a new non tested apical porphyry footprint model for Kura122. The upper silver veins might well represent a deeper porphyry system, yet to be tested
Orestone Mining (TSX:ORS) has started exploration at its Chile Resguardo copper-gold porphyry project where it has an option to earn 100%. For 2019 the exploration program will consist of geophysics to better define IP chargeability anomaly and test further southwestern extension, followed by drilling.
Hot Chili Limited (ASX:HCH) is known for its Productora project in Chile, and now the recent drill results at its Cortadera deposit has brought added value to the company. The drill results topped the global charts with 622m grading 0.6% copper and 0.2g/t gold from 204m depth including a New High Grade Zone comprising: 188m grading 0.9% copper and 0.4g/t gold from 516m depth which includes: 100m grading 1.0% copper and 0.5g/t gold from 530m depth. MD, Christian Easterday compares grade and depth of mineralization in new zone to Solgold’s Cascabel.
ERO COPPER (TSX:ERO) has released results from its recent drill program at the Vale do Curaçá Property at the Vermelhos Mine with high grade copper mineralization approximately 70m below the orebody. The company also discovered a new mineralized zone at the Pilar Mine below historic open pit. There are 26 drill rigs turning across the two districts with hopes to expand resources and extend mines lives.
Alicanto Minerals (ASX:AQI) has signed an agreement with Nordgold who can earn 100% of the Arakaka project in Guyana, the same project Barrick pulled out of in 2018. The international diversified gold miner, Nordgold, will fund US$3 million explorations expenditures and a further US$5 million to execute the option. This move will be Nordgold’s second position in South America, following the 2017 55% earn in to the Montagne d’Or project in French Guiana.
New Energy Metals Corp. (TSXV: ENRG) (OTC PINK: NEMCF) has set out its intent to move in next to Chile’s largest copper mine, Escondida and acquire up to 70% of the the Exploradora North Project. Last explored by BHP Billiton 20 years ago, Exploradora North has porphyry copper and skarn occurrences that are set to require deeper drilling than previous 600m depth, and is being compared to Codelco’s El Salvador which had a secondary blanket 600m below surface.
Coro Mining Corp. (TSX: COP) has completed over 4000m more drilling at its Marimaca Project in the Antofagasta Region of Chile, confirming oxide mineralization and new evidence of mixed oxide-secondary sulphide and primary sulphide intercepts. Highlights included 44 metres at 0.91% CuT and 54 metres at 0.85% CuT, which was summarised as a high grade zone for the project.
New Pacific Metals Corp.’s (TSX-V: NUAG) (OTCQX: NUPMF) recent assays at their Silver Sand project show considerable high grade including 144.2m @ 169g/t Ag from 65.22m to 209.44m, with 73.21m @ 243g/t Ag from 65.22m to 138.43m. Backed by Silvercorp and Pan American Silver, New Pacific have managed to maintain a steady exploration program and will continue to drill new targets in 2019. These initial holes from the 2019 drill program, however, are infill holes, bringing drill hole density to approximately 25 metre by 25 metre spacing.
Meteoric Resources NL (ASX: MEI) announced in March the acquisition of the high-grade Juruena Gold Project in Matto Grosso, Brazil which holds a 1.3Mt for 261koz Au at 6.3 g/t JORC Resource Estimate. Now that the transaction is complete the company will commence its exploration program with a drill campaign on its two main targets Dona Maria and Querosene.
E2Metals (ASX:E2M) holds a large land holding in the world-class Santa Cruz gold and silver province in Argentina and Santa Morena sits next door to Pan America Silver’s COSE development project. E2 prioritised drilling several kilometres of untested veins at the project and results show more extensive mineralized system than previously apparent, with potential for higher grade targets at depth.
Whilst new discoveries will be in high demand once the deficit sets in for many base metals, it is not getting easier nor cheaper to unlock the value of discoveries, often calling for more intensive exploration programs. The financing strategies to make these discoveries possible are therefore important to analyse. Kura does just that this week as we delve into financings over US$35 million carried out in the last 4 years in the base metals space, and explore how strategic investments can work well for all stakeholders if played right.
Filo Mining Corp. (TSX-V, Nasdaq First North: FIL) seven assays from its Filo del Sol project rank within the top results of the week according to Opaxe and mark the end of the 2019 drill program at the property, which is located on the Chile/Argentina border. All but one of the holes ended in mineralization, which has shown the project’s continued upside potential, complementing the encouraging production outlook from Pre-Feasibility Study.
SolGold Plc (LSE & TSX: SOLG) has released the PEA at Cascabel with NPV of up to US$4.5B and IRR rate of 26.5% for a block caving plan of 2.4Bton @ 0.54%CuEq. Next on the cards, the feasibility study is expected to be completed by the end of 2020.
CONTINENTAL GOLD (TSX: CNL; OTCQX: CGOOF) holds one of the largest and highest grade gold projects globally, the Buriticá Au project in Colombia, which has production scheduled to start in 2020. Once in full production the mine could double formal production levels of gold in Colombia. The team continues to explore upside at the property with recent new discovery at BMZ4 where they will continue to drill.