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.
Be the first to comment on "Santa Catalina gets Colombian property"