Drilling is set to begin on the Chilean project known as Las Pascualas, in which Aurex Resources (VSE) can acquire a 90% interest by paying US$2.1 million over seven years.
A 3,500-metre surface and underground program, budgeted at US$370,000, is planned.
Previous exploration identified a porphyry copper system overlain by a supergene blanket with a mineral resource estimated at 5-10 million tonnes grading 1.5% copper.
A 200-metre-long crosscut is being driven to establish drill stations for the purpose of testing the dimensions of a supergene-enriched blanket. Geochemical sampling is also under way, in an effort to target surface drill sites.
Meanwhile, in Guyana, Aurex has established an exploration camp at the Issano project. The company can earn a 75% interest by spending US$475,000 over two years. An initial program of mapping, sampling, geophysical surveys and auger drilling is planned at an estimated cost of US$300,000.
Aurex notes that the geology of the property meets the criteria of major gold deposits in the Guiana Shield.
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