Rio Tinto cuts copper in Peru

A hole drilled on the Aguila concession in north-central Peru has intersected 400 metres of mineralization grading 0.63% copper and 0.04% molybdenum, as well as 0.04 gram gold and 1.9 grams silver per tonne.

The first hole drilled on the property by partners Rio Tinto Mining (RTP-N) and MacMillan Gold (MMG-T) to test an ovoid-shaped copper porphyry, ended in mineralization. Unconfirmed results on file at the Peruvian Ministry of Mines show that holes drilled on the concession more than 25 years ago also ended in copper mineralization.

Rio Tinto, which has a 4-year option to earn a 51% interest in MacMillan’s Aguila and Santa Rosa concessions, is expected to continue testing the 450-by-200-metre porphyry in the new year.