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Watsui Capital Corp.
Summary
| Project: | Arcas | |
|---|---|---|
| Deposit: | Arcas | |
| Location: | Chile | |
| Commodities: | Gold-Silver | |
| Date: | 4/17/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 17-4-2018: Watsui Capital Corp. announces an Exploration/Drilling Update report for its Arcas deposit at the Arcas project. Technical report summarizing previous exploration on property and further recommendations. The Arcas project consists of four block | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Darby Fletcher (Independent) | |
| ABSTRACT: | The Arcas project consists of four blocks of exploration concessions located in the northern extreme of the Antofagasta Administrative Region (Region II) in Chile (the "Arcas Project"). The concessions total 53,300 Ha of granted mineral rights and a complete list of all concessions is provided in Appendix A. All concessions are owned by BLC SpA, Prospex SpA, or CALISTO SpA. BLC SpA, Prospex SpA and CALISTO SpA (collectively, the "Optionors") have granted an option to Watusi Capital Corp., a TSX Venture Exchange-listed capital pool company ("Watusi") to acquire a 100% interest (subject to existing underlying royalties) in certain mineral properties with prospective copper and gold targets located in northern Chile, including the Arcas Project, from the Optionors (the "Option"). To exercise this option, Watusi Capital Corp. must incur cumulative expenditures of at least CAD$750,000 on the exploration and development of the 2 optioned properties within 18 months of the grant of the option, of which at least CAD$500,000 must be incurred within 12 months of the grant of the option. The Arcas Project is located in the Atacama Desert, the cordilleran transitional zone between lower desert and high cordillera, at elevations of 1,500-3,800 meters. The four concession blocks constitute a combined area of 53,300 Ha of granted exploration concessions as of the effective date of this report. These fall along the greater West Fissure-Domeyko mineralized trend which hosts numerous world-class porphyry copper deposits (e.g. Escondida, Chuquicamata, Collahuasi, El Abra). Despite their location along a major mineral belt, these properties have seen only little modern exploration and they remain in a preliminary stage of exploration | |
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