NEWS ROUNDUP — Cambior acquires property in Chile

Cambior (TSE) has acquired a 100% interest in the Polo Sur copper property in Chile from Shell Chile S.A. at an undisclosed price.

Polo Sur is 75 miles northeast of Antofogasta in northern Chile and covers about 21 square miles. This area is in the vicinity of the geological formation that hosts some of the most important copper deposits in Chile: Callahuasi, Quebreda Blanca, El Abra, Chuquicamata, La Escondida and El Salvador.

Since the beginning of 1980, 33,000 feet of diamond drilling have been completed. A mineral inventory of 46 million tons grading 0.75% copper has been established using a cutoff grade of 0.5% copper.

Preliminary studies show that the deposit is 85% oxide copper. The orebody is to be mined by an open-pit operation. Copper recovery will be by heap leaching, followed by solvent extraction-electrowinning.