A program of 3,000 metres of reverse circulation drilling has been undertaken by Princeton Mining (TSE) on the Elenita copper project near Antofagasta, Chile.
The program focused on an oxide-copper deposit hosted by the Negra formation, which hosts numerous other manto-type deposits, including Carolina de Michilla, Lince-Susana and Mantos Blancos.
Sixteen of the 23 holes returned favorable results and indicate probable and possible geological reserves of 3.5 million tonnes grading 1.42% copper. Metallurgical test work is in progress, along with more geological and lithogeochemical studies. A second phase of drilling has been recommended to expand reserves and provide data for a preliminary feasibility study. Princeton is involved in other copper projects in Chile and is also exploring the Nancagua gold-silver property, 160 km south of Santiago. The Nancagua area covers an exposed gold-bearing epithermal system.
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