Vancouver — Diamond drilling by
The property, which comprises 41.6 sq. km in Region III, about 575 km north of Santiago, hosts a large, Andean-type porphyry copper deposit that contains a significant amount of supergene and oxide-copper mineralization.
Since the early 1980s, the property has been explored by Newmont Mining, Niugini Mining and BHP. In 1995, BHP arrived at a resource estimate of nearly 200 million tonnes grading 0.5% copper (all categories), based on 65 holes and a cutoff grade of 0.3% copper.
The most recent results are highlighted by hole 16, which returned 392 metres grading 0.51% copper, of which 84% of the contained copper is believed to be leachable. Other significant intervals include 280 metres averaging 0.38% copper (85% leachability) at a down-hole depth of 66 metres, and 316.5 metres of 0.47% copper at a depth of 6 metres (70% leachability).
Judging by the long intercepts of copper-oxide and secondary sulphide mineralization, there appears to be good potential for a major copper deposit amenable to the low-cost leaching technology.
Metallurgical tests will evaluate the leaching and acid-consumption characteristics of the mineralized material.
Copper mineralization at Regalito is associated with a cluster of dacitic porphyry intrusives, hydrothermal breccias, and a potassic and phyllic alteration system covering an area 2,700 by 1,500 metres.
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