Golden International’s Punta del Cobre project covers 2,720 hectares in the Atacama region of Chile, 20km west of the town Tierra Amarilla. The project is accessible by paved road to Tierra Amarilla, with the remaining distance to site by gravel road.
The Punta del Cobre belt is situated within an Early Cretaceous continental volcanic arc and marine carbonate back-arc basin terrain. Mineralization is controlled by the intersection of tectonic structures with volcanic rocks and overlying volcaniclastic rocks.
Golden International has undertaken exploration activity at the site, and we have identified several iron oxide-rich Cu-Au deposits on the property. Our assessments concluded that there are mineable reserves of some 300 million tons grading at 0.21 g/t gold, 3.8 g/t silver and 0.45% copper.
The deposits can be separated into two distinct groups, vein deposits and composite deposits. The vein deposits tend to be hosted by intrusive rocks whereas the larger, composite deposits occur within volcano-sedimentary sequences, in close association with major orogen-parallel fault systems.
Golden International has recently entered negotiations for the purchase of land adjacent to the existing property, in order to extend exploration following discovered mineral veins.
