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Chilean Metals Inc.
Summary
| Project: | Zulema | |
|---|---|---|
| Deposit: | Zulema | |
| Location: | Chile | |
| Commodities: | Copper-Gold-Iron | |
| Date: | 4/3/2017 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 3-4-2017: Chilean Metals Inc. announces an Exploration/Drilling Update report for its Zulema deposit at the Zulema project. Drilling results incl. 2.0m @ 0.35g/t Au, 0.126% Cu, 3.84$ FE from 150m. Chilean Metals Inc is pleased to announce that it has expa | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Gary Lohman (Internal) | |
| ABSTRACT: | Chilean Metals Inc is pleased to announce that it has expanded the drill program at Zulema from a minimum of 2,000 meters to an open ended ongoing program that will be a minimum of 3,000 meters. Zulema is Chilean’s lead exploration project in Chile located near Copiapo and 30 Km's from Lundin Mining’s Candelaria mine. The initial results released on Feb 27th suggested to Chilean that it had found in our assessment, IOCG style mineralization. Subsequent drilling continues to test this thesis. To date we have reported highlights on our initial 2 and a partial third hole. Today we provide a map outlining the current seven holes we have drilled with completed assays where applicable. Initial drill results confirm that host rocks and alteration fit the Candelaria model. The presence of copper-bearing magnetite skarn, interbedded magnetite chalcopyrite bands, more massive chalcopyrite in drill hole 5, biotite magnetite alteration, potassic (K-spar), magnetite and hematite veining and local mineralized breccias suggests proximity to the main mineralized target. “We are very encouraged by the ongoing exploration drilling program at Zulema. Holes 3 and 5 showed a lot of promise and we found the elevated gold to copper ratios of .5 to 1:1 particularly interesting. Potential Industry Partners were enthusiastic about our progress at PDAC and provided insightful commentary on our ongoing program. Our team is continuing to follow our strategic work program and we look forward to demonstrating this progress upon completion of this stage of exploration sometime in May”, commented Patrick J Cruickshank, President & CEO | |
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