“Esperanza de Cabildo” copper ore deposit is located 9 Km east of Guayacan village, in the Cabildo Area within the Province of Petorca, in the Fifth Region, Chile, and is 31 Km. distant from the city of Cabildo, at an altitude of 550 - 1,000 mt. above sea level. Access is through paved roads (road E-41)
Distance from Santiago: 130 km.
Distance to Ventanas Port and Smelter: 120 km.
Ideal climatic and geographical conditions favour work all year round without any problems.
The copper ore deposit corresponds to several mineralized levels (stratiform bodies), controlled by a sub vertical system of orientation faults 10º N - 20º E (Cerro Negro fault). Its located at the western borderline of an important magnetic anomaly, being the northern continuation of the Cerro Negro mine, which produces copper ores for 75 years ago. Two levels emerge in the study sector (height + 760 m. Level II and height + 560 m. Level III). Level I is developed to the South, at Cerro Negro Mine.
Magnitude of the mineral resource:
According to the data of the researches made at this time , the estimated deposit of “La Ultima Esperanza” represents a copper resource with a magnitude running into the tens of millions tons of ore with a copper content of approximately 1,2%.
Some geological and mineralogical indications tend to make us think that, deeply, in relation to diorite intrusive bodies, a strong hydrothermal activity with associated copper deposits may be developed, that can increase the reserve potential considerable.
The project at present has:
-Surface geology mapping.
-Intra property roads
-Underground exploratory labor. The extracted ore has 1% Cu and 0.85% Cu lix. The extracted ore was sold to the heap leach SX/EW plant of Anglo American subsidiary El Soldado.
-IP Geophysical survey
-1500 mts aprox of DDH drills that intercepted 3-9 mts mineralized intervals calculated with 0,2% Cu cut-off with an average of Cu from 0,44% to 1%.
-Mineralogical survey(microscopy) from the Drill holes, surface outcrops and sold ore samples.
-Full exploitation license according to the Chile’s laws. According of this is a perpetual grant.