An agreement to acquire a group of claims in the Sierra Valenzuela copper district in northern Chile has been signed by 50-50 joint venture partners Minera Rayrock (TSE) and Compania Hecla Minera Limitada.
The project is about 40 km northeast of Minera’s Ivan copper property which is scheduled for development in 1993. The companies report that the claims (small mining operations) have been worked for several decades for high-grade copper and have extensive shallow workings.
The joint venture will carry out an exploration program consisting of geological work, geophysics and drilling. Field work will commence immediately and drilling will probably be under way by the end of the year.
Be the first to comment on "LATIN AMERICA ROUNDUP — Minera in new Chilean venture"