Boliden (March 12, 2001)

Denver — The first holes on the newly acquired Santa Julia claim block at the El Morro copper project in Chile have returned long intervals of mineralization for partners Noranda (NOR-T) and Metallica Resources (MR-T).

Hole 18 cut 383 metres of continuous copper mineralization, of which the first 63 metres averaged 1.5% copper and 0.18 gram gold. Beneath this enriched zone, the hole cut 320 metres of primary mineralization grading 0.56% copper and 0.62 gram gold per tonne to the bottom of the hole.

Two hundred metres to the east, hole 19 encountered 44 metres of chalcocite blanket, grading 0.82% copper and 0.54 gram gold per tonne. Beneath the enriched zone were 432 metres of 0.58% copper and 0.58 gram gold in primary sulphide mineralization.

The partners optioned the Santa Julia concession (covering 15-ha enclosed by their La Fortuna property) from BHP (bhp-n) after two drill holes on the El Morro property showed potential for mineralization.