Santa Catalina gets Colombian property

Santa Catalina (SLM-V) will earn a half interest in four concessions covering a major copper-gold porphyry system in northwestern Colombia.

The remaining interest is held by Colorado-based Cyprus Amax Minerals (CYM-N).

Previous sampling confirmed the presence of three separate and extensive copper-gold anomalies in three areas: La Rica, Jarapeto and Taparos.

La Rica is a porphyry system which outcrops over an area measuring 1,400 by 800 metres, with grades from rock samples averaging 0.94% copper and 0.39 gram gold per tonne.

The Jarapeto and Taparos areas feature widespread copper-gold anomalies, where sampling has returned 350-15,000 parts per million copper and more than 0.1 gram gold.

The anomalies, none of which has been drilled, occur over a north-south distance of 10 km. To earn its interest, Santa Catalina must spend US$5 million on exploration over three years.

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