Globe-trotting Cominco Resources International (TSE) recently optioned a Chilean copper property where previous work has already identified several million tonnes grading about 1% copper as well as numerous untested copper occurrences along strike.
The company can acquire a 100% interest in the Lomas Verdes property located 60 km south of Antofagasta in northern Chile, while the vendor will retain certain royalties.
The property hosts more than 20 copper occurrences along a 5-km strike length, where mineralization has been encountered in drill holes, pits and trenches below thin but extensive overburden.
The drill-tested zone identified at one end of the mineralized trend is still open for expansion laterally, along strike and to depth. Other occurrences along strike have yet to be drill tested.
The copper is reported to occur mainly in oxide form and is expected to be amenable to heap leaching and solvent extraction-electrowinning to produce cathode copper.
Cominco expects to begin work shortly with an initial program of geophysics, geochemistry, and 5,000 metres of drilling.
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