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Altiplano Minerals Ltd.
Summary
| Project: | Farellon | |
|---|---|---|
| Deposit: | Farellon | |
| Location: | Chile | |
| Commodities: | Gold-Copper | |
| Date: | 3/10/2017 | |
| Report Code: | NI43-101 | |
| Report Type: | Supporting Acquisition | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 10-3-2017: Altiplano Minerals Ltd. announces a Supporting Acquisition report for its Farellon deposit at the Farellon project. Summary of property in support of acquisition. Altiplano Minerals Ltd.’s (“Altiplano”) Farellon and Maria Luisa Projects in nort | |
| Resources: | (historic estimates only) | |
| CP/QP: | [Overall Report]: Michael Dufresne, Edward Parker (APEX Geoscience Ltd.) | |
| ABSTRACT: | Altiplano Minerals Ltd.’s (“Altiplano”) Farellon and Maria Luisa Projects in northern Chile are focused on the exploration for and potential mining development of copper and gold mineralization. To date, small producers have exploited copper and gold mineralization at both properties via underground workings but lack the capital to identify resources and develop the small mines into modern deeper and more sustainable operations. The Farellon Project is approximately 30 km south of La Serena in the Coquimbo Region (Region IV) and consists of two mining exploitation concessions with five more concessions potentially available for the project. The Maria Luisa Project is approximately 100 km north of La Serena in the Atacama Region (Region III) and consists of one mining exploitation concession with applications for two additional concessions underway. Altiplano has entered a Heads of Agreement (“the HOA”) with Comet Exploration Ltd. (“Comet”), an unlisted public Australian exploration and development company. The HOA initially covers but is not limited to the Farellon and Maria Luisa Projects. Through the HOA, Altiplano may earn up to an initial 50% interest in the Comet Joint Venture (CJV) by making payments totaling $2,000,000 US on or before August 1, 2017. The CJV agreement is expected to be in place by February 10, 2017 which will provide the framework on the governance of the venture. A joint venture committee is expected to consist of two members from each company. | |
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