Set To Test Out Prolific Maricunga Belt Of Chile
Altiplano Metals Inc. (TSXV: APN) has entered into an arm’s-length option agreement to acquire the Pastillas gold exploration project located within the prolific Maricunga belt, approximately 116km from Copiapó in the Atacama region of Chile.
The agreement provides the company the opportunity to acquire a 100% undivided interest in the Property for a total acquisition cost of US$1,230,000, plus 1,000,000 common shares of the company to be paid and issued, respectively, in instalments over the next four years, as well as incurring a minimum of US$2,900,000 in exploration work in instalments on the Property over the next four years, and the optionor retaining a 2.0% net smelter returns royalty (NSR) from production.
- Comprises 3,100 ha of exploration concessions covering an extensive zone of advanced argillic, steam heated type alteration typical of shallow exposure in productive high level epithermal systems.
- Located in the highly prospective Maricunga belt of northern Chile with potential for Maricunga style porphyry Au-Cu mineralization at depth.
- Proximal to four world class, advanced stage gold projects: 20 km south of Fenix (Rio 2); 20 km north of Volcan (Hochschild); 12 km northeast of La Pepa (Yamana Mineros); and 14 km west of Lobo-Marte (Kinross).
“I am very pleased to reach an agreement on the acquisition of Pastillas. This is an excellent exploration project with scalable potential located within elephant country of the prolific Maricunga district which hosts numerous mines and advanced stage gold and copper projects,” CEO, Alastair McIntyre, said.
“The acquisition of Pastillas syncs with the company’s strategy of developing near term cash flowing assets but also focusing on large scale exploration projects with the potential of developing significant mineral resource potential.”
The Pastillas Project Property
The Property is located within the prolific Maricunga Gold Belt and exhibits alteration typical of mineralized systems in the region. Historical information includes limited rock chip sampling, short-wave infrared (SWIR) spectroscopy, surface reconnaissance mapping, and ASTER radiometric data. Sparse rock chip sampling has yielded elevated gold up to 26.5 ppb and anomalous values in important pathfinder elements. A
STER satellite data indicates the presence of potential argillic and advanced argillic alteration and has been confirmed in geological mapping and in SWIR data. The Property is situated within a regional-scale alteration system visible in satellite imagery that contains several world-class deposits.
Early-stage results at Pastillas are consistent with a high-level expression of epithermal and porphyry mineralisation in the region, and there is significant opportunity at this undrilled and underexplored property to make a discovery in a proven and profitable gold-copper jurisdiction.
For further information please visit: http://www.apnmetals.com/