ESP – 01

Cu (Ag)

An old underground mine located 800 km N of Santiago city and 41 km SE of Copiapo city.

Located in an active mining sector, with ore processing plants nearby (Elisa de Bordos, ENAMI, others) for the sale of ROM or concentrate.

It has access to infrastructure, energy and the supply chain.

There are ten tenements covering about 2,800 ha.

The deposit is located in the fault “Elisa de Bordos”, a structure being exploited by several mines, between Elisa de Bordos and Cerro Blanco. This fault contacts the Cerrillos (Middle Cretaceous) and Hornitos (Upper Cretaceous) formations. The ore is found in a 0.5–3.0 m wide manto, with NE orientation, and inclined 30–40° to the SE. Mineralization is located between the upper calcareous sediments, lower tuffs and pyroclastic rocks, mainly consisting in chalcocite and, secondarily, bornite.

The mine has been exploited since more than one century ago, so it counts with several geology and exploration studies made by authors such as Walther Eberle (1998), Mayer & Fontbote, and Harry Floyd (2006).

The Chilean company Pucobre conducted geophysics and a drilling campaign in the period 2004–2005.

A geology study was made in November 2014 by an independent consultant.

Fresnillo PLC took 40 samples and the lab results showed good results for copper and silver, where 25% of samples gave 1.0–5.5% Cu and 120–520 g/t Ag.

The mine was exploited again during 2015 and the ore was sold to the processing plant of ENAMI Matta. Exploitation was suspended due to a drop in metal pricing.

ESP – 02

Cu – Au – Ag

Located in the Province of Limari, IV Region, 150 km W of Coquimbo city, and at an altitude of 3,880 masl.

The mining property covers an area of 1,550 ha.

The ore is composed of several structures, veins, mantos and outcroppings that could correspond to mineralized bodies of stockwork type. Vein type structures show significant widths. The main vein is about 10 m wide, oriented N50°/45°SW and with a significant running length of about 1000 m, mainly recognized through surface labors.

Geophysics: 85 km of linear magnetometry.

Successful surface sampling: 32 samples taken, giving results up to 9% Cu and 1,360 g/t Ag.

There were19 samples resulting in >1% Cu; 16 containing >200 g/t Ag, and four showing >0.5g/t Au

The junior Canadian company QS Capital, signed a purchase option for this project, during the period 2012 -2013.

ESP – 03

Cu (Au)

Located in the Atacama Region, 95 km NE of Copiapó city, at an altitude of 2800 masl.

Property extends 2,920 ha. There are 320 ha of exploitation concessions and 2,600 ha in surveying process.

Previous artisanal miners have mined approximately 100.000 ton with grades over 2% Cu, focusing on the oxidation zone at shallow levels.

The project belongs to the gold-silver epithermal/gold-copper porphyry Maricunga belt at the NE of the Chilean Andes.

The mineralization consists of a complex copper-rich system that includes stockworks, dissemination, hydrothermal breccias and sulphide-rich veins with economic contents of gold and silver. Silicic-argillic alteration is intensely widespread in the whole area.

The old mine presents a 2 km x 300 m long mineralized structure that includes grades of 1.0-1.5% Cu and 0.3-4.0 g/t Au. Mineral assemblage is represented by chalcocite, bornite, chalcopyrite, covellite, pyrite, hematite and magnetite.

Recent resource potential estimate using underground and surface data integration, geochemical survey and IP-resistivity models, indicate a mineral potential of 200 Mt.

Geophysics: Induced polarization and resistivity. Exploration magnetometry.

Report on geology

48 chip samples

The junior Australian company Laguna Resources, signed a purchase option for this project, during the period 2011 -2014.

ESP – 04

Au – Cu 

Located 25 km SE of Ovalle city and 10 km E of Punitaqui town, at an altitude of 900 masl.

Mining property covers 100 ha, but other properties with excellent mining potential could be incorporated in the near future. These properties are being targeted.

Project is located in an attractive zone in terms of exploration potential, and also at the vicinity of ore processing plants and purchasing centers to get mining supplies.

It is highly feasible to start a mining operation of 5,000 tpm in the near term.

Au-Ag-Cu vein type mineralization hosted by Lower Cretaceous meta andesites and granitic rocks of dioritic and granodioritic compositions. The alteration halo in the Au-Ag-Cu veins in San Lorenzo presents a widespread strong argillization bordering veins, consisting mainly of kaolinite with minor proportions of montmorillonite and adularia-sericite assemblage, and restricted root zones of silicified envelopes. Chloritic or propylitic alteration represent the peripheral alteration.

Mineralogy reflects a distal epithermal halo, from similar enriched proximal ores like in Punitaqui district, consisting of quartz, specularite, hematite, pyrite, chalcopyrite, calcite, gold, silver and magnetite.

Surface mapping, sampling and chemical analysis.

Geochemical results on San Lorenzo veins indicate important anomalies of Au (up to 1.03 ppm), Ag (up to 11 ppm), Cu (up to 0.57%),  Mn (up to 4830 ppm), V (up to 1102 ppm), As (up to 482 ppm), Sb (up to 3600 ppm) and Fe (4.99-42.76%).

ESP – 05

Cu

Located 75 km S of Copiapo city, Atacama Region, immediately east of Route 5 and at an altitude of 520–560 masl.

There is easy access to energy, equipment supplies, fuel and services.

The mining property has an area of 2,400 ha.

The Project comprises two ore deposits in the same project area: An iron ore deposit corresponding to the known iron belt of Atacama Zone and a Porphyry Cu (Au) ore deposit.

Tertiary porphyry belt.

Copper sulfide mineralization, disseminated, stockworks and hydrothermal breccias, leading to a Phy-Cu target.

Copper: Estimated potential >400 million tons at 0.5–0.8% Cu.

During 2013, three DDH holes, totalizing 500 m, were done, giving successful results. These were made to verify a geophysical anomaly targeted, marked by extensive zones of hydrothermal alteration, represented by sericite and quartz in stockwork, with abundant disseminated magnetite and sulfide mineralization, mainly pyrite. This style of alteration is characteristic of porphyry copper deposits.

ESP – 05

Fe

Ferriferous belt, Cretaceous (Fe -apatite): Iron ore deposit (W side of mining properties) > 1 km long NS x 300 m wide EW; massive bodies of magnetite  and a minor participation of hematite.

Estimated potential >100 million tons at 40-45% Fe; Magnetite > Hematite.

ESP – 06

Au (Cu – Ag)

The project is located 45 km NE Inca de Oro town and 160 km NE of Copiapó city.

The mining property covers 1,700 ha.

It is feasible to advance a short term Project  involving the high grade ore in the breccias  (5Mt)

A well-known mining area of approximately 2 km2 including numerous mineral occurrences of high grade Au-Cu-Ag, consisting of quartz veins, stockwork, sulphide dissemination and hydrothermal breccias. The hydrothermal alteration includes intense silicification and argillic alteration associated to epithermal veins and hydrothermal breccias with disseminations and overgrowth of argentite, chalcocite, bornite, chalcopyrite and pyrite.

The economic potential relates to two mineralised zones:

A well-known Au-Cu-Ag mining area corresponding to  hydrothermal breccias linked to a high sulphidation system with a resource potential estimate of 5 Mt with average grades of 10 g/t Au, 3% Cu and 10 g/t Ag.

A second target corresponding to an Au-Cu porphyry system associated to gold-rich Vicuña sub volcanic dome. Systematic geochemical and geophysical surveys (IP and resistivity) and field data interpretation have identified an important number of porphyry Au-Cu alteration systems with associated Au-Cu mineralization or anomalous geochemistry, indicating a resource potential of 200 Mt. 

Geophysics: Induced polarization and resistivity (Joe Jordan) Argali.

Surface mapping and study of old labors.

Ore sampling and chemical analysis .

The junior Canadian company Altura Minerals, signed a purchase option for this project, during the period 2013 -2015.

Sampling on old mining workings indicate high Cu-Au-Ag grades in stockwork and hydrothermal breccias including 6% Cu, 36 g/t Au and 110 g/t Ag.

ESP – 07

Au – Ag – Cu

Located 115 km SE of Copiapo city and with a good year round access via gravel road. Some difficulties may be expected during June and July due to snow fall.

The property covers 2,200 ha.

Project has a magnificent strategic location, immediately SW of Cerro Casale.

One main target is located at the SW slope of the Cadillal volcanic field, known as the Aguas Blancas Tertiary volcanic system belonging to the Maricunga gold metallogenic belt in the high Chilean Andes.

The gold mineralisation is genetically linked to the sub circular collapse structure called “embryonic caldera” corresponding to an epithermal event coeval with the high-sulphidation Au-Cu Cerro Casale deposits, located at the central zone of the same hydrothermal-volcanic system.

Several mining workings evidence the presence of stockworks, hydrothermal breccias and veins associated to argillic and quartz-alunite alteration. Preliminary sampling on these area show grades up to 2 g/t Au included in hydrothermal breccias. Exploration results and its coeval genesis with Cerro Casale deposit suggests that the system may have been aged enough to concentrate fluids and mineralization into a high-grade core.

Report  issued by Nacimiento (ex-Valmar) mining company, owner of properties since 1997.

Geology reports

ESP – 08

Ag – Au – Cu

Located 95 km NE Copiapo city, III Region.

The property comprises of 1,200 ha and it is accessed by a network of unpaved road to Vega la Junta.

This deposit belongs to the Miocene-Pliocene Maricunga belt composed by Au-Cu porphyries and Au-Ag-Cu epithermal systems.

The main interest of the future exploration programs would be focused on the N120° parallel veins that occur including the ancient mine El Gringo. Several veins with extensions up to 1km and thicknesses up to 3 m have been identified in this mine and surroundings. Epithermal alteration includes silicification, argillic and propylitic assemblages.

Recent geochemical sampling of old mining working and underground developments present grades of  600 g/t Ag, 0.8 g/t Au and 0.8% Cu, identifying sulfides such as argentite, chalcocite, bornite and chalcopyrite within tabular veins that present massive quartz and hydrothermal breccias.

ESP – 09

Au – Ag – Cu

Located 95 km NE Copiapó city.

The property covers 1,500 ha.

The project consists of wide outcropping bed of volcanosedimentary tertiary rocks partially mineralized which were intruded by subvolcanic acid domes and quartz veins. Mineralization is associated with gold, silver and copper sulfide bearing quartz stockworking veins and as disseminated mineralization. Mineralization in quartz veins (0.20-1.00 m) present high concentrations of gold (10-200 g/t) and silver (150-600 g/t). The Au-Ag-Cu porphyry zone shows an intense silicic-argillic altered zone of about 2.5 km2 of halo and a 1 km propylitic distal halo. Geochemical surface sampling on the porphyritic proximal area show average grades of 0.5 g/t Au and 110 g/t Ag.

Resource potential estimate using preliminary field data acquisition and geochemical results indicate a volume of 300 Mt.

Alturas Minerales, a junior mining Company from Canada, signed a purchasing option agreement in the year 2012, but desisted on July 2014 because it went broke.

ESP – 10

Au - Cu

Prospection area is located 105 km ENE of Copiapo city. The altitude is about 3400 masl.

The mining property covers 1,200 ha.

The project site has full access via unpaved road all year long, from the main road to La Coipa, and then continuing by Quebrada Sombrerito.

The Project is a porphyry system gold-silver-copper, corresponding to the paleo district volcano Mio-Pliocenic “Maricunga” Copiapo.

The gold-rich zone covers an area of approximately 2 km2 and presents intense silicification and argillic alteration associated to a Menares-Guanaca dome. This area is characterised by presence of stockworks, sulphide-rich silica veinlets, vuggy silica textures, open space filling textures and relicts of sulphide mineralisation. Geochemical results on this area show anomalous values between 0.2 and 1.4 g/t Au.

The copper-rich zone, located 1km northeast of the gold-rich area, is composed of vein-type and hydrothermal breccias mineralisation aligned to the NW-SE trend, that present copper grades up to 3 %. Mineralisation includes atacamite, brochantite and chrysocolla in the oxidation zone and chalcocite, bornite, chalcopyrite and minor pyrite in the sulphide zone.

IP and resistivity surveys in both mineralised areas together with field data acquisition and geochemistry indicate a potential of approximately 150 Mt of mineral resources.

IP and resistivity surveys focused on the magmatic-hydrothermal centres with outcropping Au-Cu mineralisation.

Historical and recent work samples from old workings on ore bodies over 1 km length and 50-100 m thick, returned economic values including grades up to 3% Cu and 1 g/t Au.

Artisan mining labors have been conducted in the old mine, by means of many small pits reaching up to 15 m deep, of high grade ores containing copper and gold.

ESP – 12

Au – Ag – Cu

The project is located in the high Chilean Puna at 3330 masl, 85 km east of the city of Copiapó, III region.

This project covers 1400 hectares

The project consists of a high-grade Au-Ag-Cu Skarn and an unexplored Au-Cu porphyry system.

Au-Ag-Cu mineralisation occurs within manto-like skarns with a thickness between 35-40 metres, interlayered with Jurassic limestones, shales and quartzites. The skarn mineralisation consists of copper oxides at upper levels (atacamite, chrysocolla, tenorite and cuprite) and sulphides at deeper levels (chalcocite, bornite, chalcopyrite and pyrite). The skarn mineralisation presents stockworks, veins and dissemination of sulphides associated with high content of garnets that were affected by a late porphyry-epithermal event enriched in copper and gold.

A preliminary resource estimate model indicated a potential of 3 Mt with 2.5 % Cu, including 350 kt with an average grade of 5 % Cu

Basic geology studies

Geochemical samplings on old mining workings indicate grades of about 3-6% Cu in the oxidation zone and 2-3 g/t Au in the quartz veinlets.

ESP – 14

Au – Ag – Cu

This deposit is located approximately 60 km SE of Copiapó city and the access is via the ancient silver mines of Lomas Bayas.

The mining property has an area of 1,225 ha

Several significant hydrothermal breccia systems have been mined and identified on area including the system E-W that controls the Iman mine. Additionally, several satellite ore bodies have been identified in surrounding areas. These are considered excellent targets for the Au-Ag-Cu fluid systems active in the area and may provide near term small-scale production.

The hydrothermal breccias in the mine area presents intense silicification, phyllic alteration and also a transitional-oxidation zone that includes quartz, hematite and tourmaline with content of pyrite, Pb-Zn sulphides, and Au-Ag disseminations. Sulphide zone at deeper levels shows veinlets and dissemination of pyrite, copper sulphides and gold.

There is an old mine that produced grades of 1-25 g/t Au and up to 2% Cu. Recent resource estimate on the old mine indicates a resource potential of 15-20 Mt with average grades of 1.7-2 g/t Au and 1% Cu.

ESP – 15

Cu

Is located 45 Km to east of Copiapo city, Atacama Region, and consists of three prospects.

The altitude is from1700 to 2500 masl.

The three prospects cover together an area of 1,920 ha

The cluster is conveniently located at proximity of two ENAMI processing facilities and Lundin Mining’s Candelaria mine.

The prospect is located within an extensional regime where Cretaceous basaltic to andesitic lava flows are in fault contact with Paleocene andesites to the west and intrusive contact with Palocene Eocene monzodiorites

The prospect has potential for a high sulphidation epithermal Ag-Au vein system given the numerous occurrences of residual quartz veins with Ag-Au-Cu mineralization. Prospect suggest the potential for a porphyry Cu-Au deposit.

Geological report

Reconnaissance campaign of a total 23 rock chip samples. silver grades up to 10 g/t, whereas gold and copper grades remain only up to 0.13 g/t and 0.53 % respectively

ESP – 16

Cu

This mining district is located 35 km north of Antofagasta city, II Region, and is composed of several mineralised zones covering 1,000 hectares.

Copper Stratabound mineralisation is hosted by volcanic rocks of La Negra formation that are intruded by gabbroic and dioritic stocks of Jurassic-Cretaceous age.

The mineralisation of these deposits is emplaced in andesite as manto-like structures and hydrothermal breccias; and includes at the upper oxidation zones chrysocolla and atacamite, and at the deeper zones bornite, chalcopyrite, chalcocite and minor pyrite. The main alteration consist of quartz-chlorite-albite-epidote assemblage.

Geophysical survey using induced polarization and resistivity indicated the possible presence of mineralised blocks up to 300 metres depth. Together, geophysical interpretation, geochemical analysis and geological modelling indicate a potential resources of approximately 60 Mt with 1.0-1.5% Cu.

ESP – 17

Au – Ag – Cu

The project covers an area of approximately 500 Hectares The project is located to 95 km E-NE of the township of Diego de Almagro, IV Region, Chile and it is accessible by the road to volcano Doña Ines.

Located within the Eocene-Miocene metallogenic belt of Ines Chica, which forms structurally a part of the Maricunga Au-Cu porphyry belt.

The project consists of a wide outcropping zone (~2km2) with phyllic alteration and hydrothermal breccias associated to an Au-Cu porphyry system. Several altered diatremes, volcanic domes and sub volcanic acid intrusions have been identified in the entire property. The porphyry presents as intense silicification that overprinted the original texture, resulting in the presence of quartz-sericite-pyrite alteration, grey and black quartz stockworks, quartz- alunite alteration and several veinlets with gold-silver mineralisation. The area is well-known from ancient due the presence of several old workings of gold and silver.

Preliminary sampling on outcropping siliceous zone indicated anomalies between 0.2 and 0.8 g/t Au. Highest values were found in hydrothermal breccias and quartz stockworks reaching anomalies up to 450 g/t Ag and 1.5 g/t Au.

ESP – 19

Cu – Ag

The project consists of approximately 6 km2 N-S elongate zone with intense porphyry-type alteration, located 10 km NE from the Au-Cu porphyry Condoriaco deposit and 60 km from La Serena City, IV Region, Chile.

The mining property has an area of 1,500 ha

Geologically, this deposit consists of Eocene-Oligocene acid porphyry intrusions hosted by Cretaceous-Tertiary volcanosedimentary sequences. This area shows an intense pervasive alteration on ca. 80% of the outcrops including quartz-sericite assemblage, quartz stockworks, jarosite-hematite oxidation, copper oxides-sulphates, boxworks and propylitic alteration in distal areas. Several hydrothermal breccias for long time. Main economic minerals are chrysocolla and Atacamite

Geochemical sampling on and porphyritic intrusions are pervasively leached forming gossans and oxidation zones, in where small-scale mining activity took place the gossan zone show anomalous values of Cu (<600 ppm)..

Geophysical exploration using IP, resistivity and magnetometry indicated the presence of a sulfide-rich block with a volume of 400 Mt.

ESP – 20

Cu - Au

The project is located to 66 km NE (straight line) from La Serena and Coquimbo Cities which provide services to the mining industry.

The mining property has an area of 6,564ha.

It is located near major road infrastructure:  D115  road

(junction to Barrick’s Pascua-Lama project), approximately 80 km SE of Puerto Cruz

It is a Porphyry Cu – Au (Mo) with associated epithermal mineralization.

It is located in a highly  prospective Area: Eocene-Oligocene

Porphyry Belt.

To date, the exploration has identified inferred geological resources close to 80Mt @ 0.38% Cu Equiv (Cu+ Au), and a    Potential Resources of  350-400 Mt @ 0,80% Cu Equiv (Cu + Au).

Geological Mapping scale 1:50.000

A total of 3,150 samples were studied using geochemical multi-element ICP method on surface rock.

A total of 268 linear km of magnetic data has been collected,  covering  75 km2

IP surveys of 175 lineal km with 44 lines spaced every 250m

24.000 m DDH were drilled, whit up to 0.89% CuT and 2.6 g/t Au intersections.