LA SERENA, CHILE
The Santa Beatriz Mine is located 2 kilometres (km) by road from the existing operation at the Farellon Copper-Gold Mine near La Serena, Chile. Farellon and Santa Beatriz are situated in the north/northeast trending 1,000-kilometre Atacama Fault zone within Chile's copper-rich iron oxide copper-gold (IOCG) belt, this area is associated with several significant deposits.
IOCG-type veins at Farellon and Santa Beatriz share similar mineral characteristics and exhibit a consistent northeast orientation, indicating the possibility that both projects could be part of a larger system hosting excellent potential to develop a high-grade copper and iron resource with associated gold. Seven additional mapped IOCG veins on the Santa Beatriz property are untested. The previously mined veins remain open with the potential to intersect at depth.
The mineralized material at Santa Beatriz offers ideal potential for processing at the Company's El Peñón facility located ~15 kilometres to the north with the project permitted for ~ 2,000 tons per month of production by the Chilean mining authority SERNAGEOMIN (potential to expand to 5,000 tonnes per month).