As operator of the so-called Chile joint venture, Cominco Resources International (TSE) has arranged options to buy three copper exploration properties in the northern part of that country.
The company holds a one-third interest in the venture, with the remainder held equally by associated companies Cominco (TSE) and Teck (TSE). One of the three projects, Quebrada Seca, is near Copiapo and hosts three old mines along a 2.5-km geological structure. Copper production has been intermittent since the turn of the century.
The Puntillas porphyry prospect is near the Pan American Highway and about 65 km northeast of Tocopilla. To date, work here has revealed a surface oxide zone and a lower, enriched zone.
The remaining property, Guatulame, is near Ovalle and accessible by road. The target is an enriched copper zone below a large zone of leaching — a typical setting for Chilean porphyry copper deposits.
Each of the properties will be drill-tested in the second quarter, after completion of geological, geochemical and geophysical work. The Chile joint venture has work ongoing at various stages on more than 50 other properties.
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