Based on results from the initial phase of exploration, International Mahogany (TSE) and Mahogany parent North Lily Mining (NASDAQ) plan a follow-up drilling program to further define and expand copper mineralization on the Santa Rosa property in northern Chile.
The companies have an agreement allowing them to jointly acquire a 51% interest in the property about 50 km east of Calama.
The initial exploration work is reported to have indicated the presence of three mineralized mantos as well as fault-controlled mineralization.
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