An airborne geophysical survey has outlined a large chargeablity anomaly over the Enero property in Chile that partially coincides with a copper prospect.
Blue Desert Mining (BDE-A) holds an option to earn a 100% interest in the 3,000-ha property by spending US$500,000 on exploration, making a cash payment of US$75,000 and issuing 50,000 shares. The property is 150 km north of Santiago.
Geochemical sampling has revealed an open-ended 100-part-per-million (ppm) copper-in-soil anomaly extending over an area measuring 1,200 by 400 metres known as Los Mulas. Rock samples from exposed bedrock along stream cuts in this area returned up to 1.45% copper, 0.45 gram gold per tonne and 0.008% molybdenum.
A second discovery, La Honda, was made 2 km north of Los Mulas. An outcrop of altered diorite returned preliminary values of 1.45% copper, 10 parts per billion (ppb) gold, 1.1 ppm silver and 2 ppm moly.
The two prospects are believed to be related; both are aligned in the direction of regional faulting.
A detailed mapping and sampling program is ongoing at Enero. An additional 470 soil samples have been taken from an expanded grid.
Blue Desert has arranged a brokered private placement with Pacific International Securities of 1 million special warrants at 45cents each, for gross proceeds of $450,000. The special warrants are convertible into one common share and one warrant redeemable, for one year, for an additional share at 50cents.
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