A 2,000-metre drilling program will test geophysical and other targets identified by Pathfinder Resources (PHR-V) at the Zulema copper-gold project in northern Chile.
The Vancouver-based junior holds an option to earn a 70% interest in the property, situated a mere 30 km west of Phelps Dodge’s large Candalaria copper-gold mine.
Pathfinder completed property-wide geophysical surveys early this year, which led to the identification of a large induced-polarization anomaly (about 4 km by 1 km in size) that overlies several distinct magnetic anomalies.
During last year’s program, Pathfinder identified and drilled a large magnetic anomaly that confirmed the presence of a “Candaleria-type” sulphide copper-gold system. Hole 2 intersected 99.2 metres grading 0.24% copper and 0.06 gram gold, including 22.7 metres of 0.45% copper and 0.11 gram gold, as well as 3.2 metres of 0.86% copper and 0.23 gram gold.
Candaleria’s reserves and historic production are reported to total 475 million tonnes grading 0.95% copper and 0.22 gram gold.
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