El Morado Mining and Exploration Project
Exploring the Unexplored: Copper and Gold of the Chilean Jurassic
1,746 ha
Located in the III Region of Atacama, Northern Chile, two hours from the City of La Serena. It owns 1,746 hectares covered by 13 claims, with all patents paid up to date, including exploitation permits.
Infrastructure
Excellent access throughout the property for all types of vehicles, including trucks and any 4×4 vehicle. There is an office with satellite internet, water and fuel tanks, solar electricity and a generator, bathrooms, machinery and everything required to operate.
Geology
The El Morado deposit is located in the Andean Jurassic Metallogenic Belt, hosted in the highly prospective La Negra Formation and subordinated to the Atacama Fault System, known for controlling diverse type of deposits.
More Information
In 2022, the property caught our attention and since August 2023, the company has undertaken comprehensive exploration campaigns and mining development.
What have we done so far…
Geology
To date, we have carried out extensive geological and structural mapping campaigns at local and district scale. Also, 3D geological and structural models were generated for 3D understanding, drillhole and mining planning.
We have drilled with aircore technique, 250 meters distributed in 5 drillholes, identifying metric copper oxides intercepts.
Geophysics
After the geological mapping and prior to the drilling campaign, two drone magnetometry was carried out: a district scale with 50m resolution and a high detail local with 6.25m resolution in the target area. Both with 3D Voxels.
Additionally, there are two legacy IP resistivity lines in the Cecilia and Rincón sectors.
Geochemistry
At the moment, we have more than 100 geochemical samples for copper and gold, mostly localized on our Cecilia, Alphas and Rincón targets. The avergage copper ore grades are close to 2.0 to 2.5%, with samples up to 7%, 10% and 12% CuT.
We recently sampled 25 multi-element (38 elements) rock samples, obtaining good copper and gold results, including 4,236 ppm of Cobalt and other anomalies.
Mining
At the moment we have exploitation permits and buyers for copper oxides and sulphides. All the machinery, office, explosives and permits are available on the mine and we start our operations in Cecilia area in March 2024. We aim to reach a production of 3,000 to 5,000 tons at 1,5% to 2,0% copper oxides.
«We need, more than ever, to look for small and medium sized deposits in Chile. There are full of them with high potential. Our philosophy in El Morado is to explore for short-term exploitation. We need copper today, not tomorrow»