hile is the entry point for batteries for electrical ...€¦ · Quebrada Blanca projects by Teck...

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1 www.cexr.cl No.67 / September 2018 © 2015 Chile Explore Report All Rights Reserved Chile is the entry point for baeries for electrical vehicles I n the midst of tension genera- ted by the trade war between the United States and China, Chiles producon expectaons have enabled the lithium market to find success. With the baery industry leading the way, lithium producon could reach one million tonnes by 2028, fueled by annual growth in demand of 12% to 14%. Albemarle, SQM, Tianqi and FMC Corp currently dominate the lithium business. SQM plans to become the largest lithium producer over the next de- cade, and could produce up to 70,000 metric tons of lithium follo- wing the expansion of its plant in the Salar del Carmen in Chile, which required an investment of US$75M. During the quarterly results relea- se, Mr. Patricio de Solminiha, CEO of SQM said "Our next step will be to achieve a target of 120,000 me- tric tons per year, by the end of 2019." This stage requires an in- vestment of US$200M. SQM will add another 60,000 ton- nes with an investment of US$250M, to reach a total capacity of 180,000 metric tons per year by 2021. SQM achieved first place in lithium producon by selling its interest in Minera Exar to the Chinese Mining corporaon Ganfeng for US$87.5M, to focus on its Chilean assets and the hard rock Mt. Holland project in Australia. The CEO said, "This is a key asset in our lithium project porolio We have secured key areas to develop the refinery, where we hope to produce at least 45,000 metric ton- nes of lithium hydroxide per year." MGX Minerals But other companies are also inter- ested in Chile. Recently, the Cana- dian mining company MGX Mine- rals (CSE: XMG; OTCQB:MGXMF) signed an agreement with the sub- 10 4 3 US$65.7B in mining investments Project Showcase: SQM Regional News Ministry of Mining

Transcript of hile is the entry point for batteries for electrical ...€¦ · Quebrada Blanca projects by Teck...

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    www.cexr.cl No.67 / September 2018

    © 2015 Chile Explore Report All Rights Reserved

    Chile is the entry point for batteries for electrical vehicles

    I n the midst of tension genera-ted by the trade war between the United States and China, Chile’s production expectations

    have enabled the lithium market to find success. With the battery industry leading the way, lithium production could reach one million tonnes by 2028, fueled by annual growth in demand of 12% to 14%. Albemarle, SQM, Tianqi and FMC Corp currently dominate the lithium business. SQM plans to become the largest lithium producer over the next de-cade, and could produce up to 70,000 metric tons of lithium follo-wing the expansion of its plant in the Salar del Carmen in Chile, which required an investment of US$75M. During the quarterly results relea-se, Mr. Patricio de Solminiha, CEO of SQM said "Our next step will be to achieve a target of 120,000 me-tric tons per year, by the end of

    2019." This stage requires an in-vestment of US$200M. SQM will add another 60,000 ton-nes with an investment of US$250M, to reach a total capacity of 180,000 metric tons per year by 2021. SQM achieved first place in lithium production by selling its interest in Minera Exar to the Chinese Mining corporation Ganfeng for US$87.5M, to focus on its Chilean assets and the hard rock Mt. Holland project in Australia. The CEO said, "This is a key asset in our lithium project portfolio … We have secured key areas to develop the refinery, where we hope to produce at least 45,000 metric ton-nes of lithium hydroxide per year." MGX Minerals But other companies are also inter-ested in Chile. Recently, the Cana-dian mining company MGX Mine-rals (CSE: XMG; OTCQB:MGXMF) signed an agreement with the sub-

    10 4 3 US$65.7B in mining investments

    Project Showcase:

    SQM

    Regional News

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    Feature

    sidiary Chilean Lithium Salar SpA to acquire 50% of its shares. Chilean Lithium Salar SpA owns three lithium projects in the Atacama re-gion: Francisco, Laguna Brava and Laguna Escondida. XMG intends to develop the three projects in parallel, as it has already completed sampling programs, and geophysical and electromagnetic stu-dies. Samples taken from the area indicate lithium concentrations of up to 694mg/l. XMG will invest a further US$2M in an exploration program over the me-dium term, to define resources and implement its technology that rapidly extracts lithium. During a previous interview with CER, Mr. Jared Lazerson, CEO said "Our technology extracts lithium from bri-ne solutions, avoiding water evapora-tion and significantly reducing pro-cess duration… Our technology redu-ces capital costs and the environmen-tal footprint, while operational costs continue to be competitive."

    The MGX technology received an award at the latest edition of the S&P Platts Global Metals Awards, held in London in mid-year. BMG Resources Another mining company that in-tends to invest in Chile is the Austra-lian company BMG Resources (ASX: BMG), which recently signed an opti-on agreement with Lithium Chile SpA to form a JV requiring US$3.3M for three projects located in the lithium triangle. BMG is after lithium and cobalt in the Atacama West, Pajonales and Tuyajto-Natalie salt flats that cover more than 12,000ha. Mr. Bruce McCracken, Director Gene-ral of BMG said "The demand for batteries for electric cars continues to grow and there is no better point of entry that these salt flats in nort-hern Chile with high concentrations and low costs." CER

    “The demand for

    batteries for electric cars continues to grow and there is no better point of

    entry that these salt flats in northern Chile with high

    concentrations and low costs”.

    Bruce McCracken, BMG.

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    M ining investments in Chile could reach US$65.7B over the next decade.

    The Chilean Copper Commission, Cochilco, updated the investment portfolio submitted last year, and has added six new lithium, copper and gold projects totaling US$5.9B. The previous estimate indicated 38 projects and an investment of US$64.8B between 2017 and 2026. These projects included: Maricunga Salt production by SIMCO, expanding lithium carbonate production to 180 ktpa by SQM Salar, complementary facilities by Minera Doña Inés at Co-llahuasi; operational continuity at Zaldívar, Salares Norte by Gold Fields and Phases II and III of New Union. In comparison to the previous portfolio, the projects most likely to take place increased by 50% to 55%, amounting to US$36.2B distributed across 25 projects. "This increase is primarily due to the Quebrada Blanca projects by Teck (US$4.7M), the Mantoverde Develo-pment by Mantos Copper

    (US$832M) and the Spence Growth Option by BHP Billiton (US$3.3M), which are more likely to take place if their Environmental Impact Assess-ments (EIA) are approved, or cons-truction begins," said Mr. Sergio Her-nández, Executive Vice President of Cochilco. Codelco Codelco will implement 34% of the investments referred to in the portfolio with nine projects, making it one of the most important inves-tors. It recently announced that during the first half of the year it generated a surplus of US$1.2B. This is an in-crease of 25% over the same period for the previous year. During the presentation by Mr. Nel-son Pizarro, the Executive Chairman, he reiterated that the company ma-naged to maintain its competitive cost structure, which is aligned with production targets for the first se-mester. However, it must deepen its austerity measures and control ex-penditure to finance its investment

    plan for the next 10 years, which re-quires US$39B. Large Sustainable Projects Office Since the government came to office it has been challenged to reactivate foreign investment, which motivated the requirement to create a Large Sustainable Projects (LSP) Office to expedite the approval process for permits. Nineteen new investment projects, not just mining projects, have been processed by the LSP between March and August. These projects represent an investment of more than US$5B. "We have opened the doors at the Ministry of Finance for investors to tell us about their projects. These figures indicate dynamism in the economy," said Mr. Juan José Obach, Director of the Large Sustainable Projects Office, during an investment and productivity seminar organized in Santiago. CER

    US$65.7B in mining investments over the next 10 years

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    Artículo

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    © 2015 Chile Explore Report All Rights Reserved

    Project Showcase

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    © 2015 Chile Explore Report All Rights Reserved

    Project Showcase

    Available Exploration Alliance Area: Galenosa Sur

    Cretaceous porphyry related to the Tovaku cluster

    http://www.sqm.com/en-usproductos/metalsexploration.aspx

    María José Álvarez Metal Business Development

    Manager [email protected]

    +56 9 7465 7359

    José Dias C. Metal Business Development

    Geologist [email protected]

    +56 9 9370 9859

    T he Galenosa Sur project is located in the II Re-gion, 190km north-east of Antofagasta, 9 km south-west of Tovaku Project (Pucobre/Codelco) and 43 km north-west of the town of Maria Ele-

    na. Positioned in the Cretaceous belt where there are mineralized porphyry systems like Tovaku (>500Mt @ 0.25% Cu), Antucoya (642Mt @ 0.35% Cu) and Carmen de Andacollo (19Mt @0,77%Cu). The area was identified by means of a reconnaissance mapping focused in the proxi-mity of known deposits, following the concept of a po-tential mineralized cluster over an area of 2 km by 2km. Multiple intrusive events were observed with porphyritic textures, which are carriers of veinlets (type A and B) that form a stockwork with oxidized Cu mineralization and chlorite-epidote alteration superimposed on a potassic background. Lithologically, metasedimentary units of the El Toco Formation (Pz-Sup) are intruded by dacitic com-plexes and granodiorites. This project has limited geologi-cal mapping, some surface geochemistry samples, and results from a caliche drill hole grid. A total of 591 m of DDH reconnaissance drilling was performed, with initial intercepts of 11m of 0.25%Cu and 29m of 0.13% Cu in one of the holes, represented by a mixed mineralization of brochantite, chrysocolla, (atacamite) and chalcopyrite and molybdenite.

    This project is related to a porphyry system (Cu-Mo) clus-ter, with favorable, but covered areas with potential to intercept new intrusive related mineralization, or similar higher grade, as well as favorable structural zones that have yet to be tested.

    This project has easy access, only 45km from Maria Elena on route 5-North, then one to a well-established track that leads to the West (Estación Tigre). The project area comprises more than 300 hectares, where less than 40% of the hectares have been explored.

    Darryl D. Lindsay, PhD, PGeo Metal Business Development Director

    [email protected] +56 9 6648 8511

    No.67 / September 2018

    http://www.sqm.com/en-usproductos/metalsexploration.aspx

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    www.cexr.cl No.59 / Enero 2018

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    Artículo

    http://www.cexr.cl/evolution-en/public

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    Feature

    C hile Explore Congress 2018 has established itself as a well renowned event in the industry, and will celebrate

    its fifth congress by bringing toget-her outstanding national and inter-national professionals, researchers and geologists. They will congregate at the Santiago Hotel to discuss to-pics of collective interest, advances and presentations, as well as sharing their knowledge and experience with all those attending. Chile Explore Congress 2018 will begin with several workshops on October 8 and 9. Dr. Pim van Geffen, Geochemical Consultant and CMIC member, will open with a 2 day cour-se emphasizing the importance of geochemistry in the discovery, defi-nition, development and recovery of resources. This will be followed on

    the second day by Dr. David Cooke, Director of the Research Center at Transformación Industrial ARC of TMVC and CODES, who will delve into the topic of porphyry deposits, their alteration, mineralization and relationship with epithermal depo-sits. The program will close on October 12 with three workshops that will tap into the expertise of companies and professionals such as CSIRO Chi-le, whose team will share tools that adequately collect, manage and analyze data, and enable companies to optimize their workflow. Seequent will provide data to deve-lop new workflow dynamics for re-source estimates where exploration uses Leapfrog Edge. While the lawyer Mr. Rony Zimerman will un-dertake a step by step review of the

    concession system for mineral ex-ploration and exploitation in Chile. All of these courses will close with question and answer sessions that will facilitate interesting discussions among the instructors and those attending. The Chile Explore Congress 2018 workshops complement the impres-sive congress program, which will present topics at the forefront of the mining industry, including updates on gold exploration, exploration co-vered by overburden and new tech-nologies, progress on the potential of cobalt as a mineral in Chile, as well as the participation of various specialists who will speak about re-gulatory flaws. Chile Explore Congress continues to strengthen links between professio-nals and key players in the industry, and forms part of the recognized international congress circuit, as it identifies the needs of the market and encourages a wide network of contacts, in order to promote Chile’s benefits as a mining country. CER

    Experts will lead workshops in Santiago

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    Exploration News

    LITH detects 480mg/l Li at 110m in Ollague project

    L ithium Chile (TSXV: LITH; OTCQB: LTMCF) has made a potentially significant lithium discovery at its Ollague pro-

    ject, where drilling resulted in 480mg/l at 110m from its first hole DDH-OLL-01-18, located on the southwestern edge of the Ollague salar, with a total depth of 290m. Mr. Steve Cochrane, President and CEO of LITH commented, "I am de-lighted that we have made a poten-tially significant lithium discovery and that the drilling results for the

    first exploration hole have returned values that rival the average grades in Argentina." LITH currently has a lithium pro-perty portfolio consisting of 152,900ha covering sections of 14 salars and a lagoon complex in Chi-le. The depths intersected coincide with the main low conductivity zone detected by the TEM completed in March 2018, reaffirming the com-pany’s interpretation that the salar is open to deeper depths.

    F ilo Mining Corp (TSX-V: FIL) announced that the Filo del Sol project located on the border between Chile and

    Argentina has 14% more mineral resources than previously expec-ted, according to latest estimates. The project hosts 425.1Mton (Au 4.4moz, Cu 3.1 billion pounds, Ag 147moz) that could extend in seve-ral directions and depths. The topography is favorable for open pit mining and to date only 3 kilometers of the approximately 7 kilometer long strike length of the Filo alteration zone has been drill tested. FIL believes that the project has the potential for porphyry copper-gold mineralization at depth and lateral to the deposit. Mr. Adam Lundin, CEO of Filo Mi-ning remarked, "The 2017/18 drill program at Filo del Sol proved very successful and I am confident that the company will meet the target release date of a Pre-Feasibility Study (PFS) in Q1 2019".

    Filo del Sol resources increase by 14%

    No.67 / September 2018

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    Noticias de exploración

    M irasol Resources (TSXV: MRZ; OTCPK: MRZLF) signed a le-tter of intent with

    Hochschild Mining (LON: HOC) to sell it 75% of the Indra project for a total of US$6.05M, which covers 21,000ha located 5km south of the Guanaco gold mine in Chile. The agreement includes staged payments. In the first phase, HOC will pay US$50,000 in cash on sig-ning the agreement and will invest a minimum of US$800,000 in the first exploration program and drill 1,500m in this epithermal Au-Ag target. If HOC progresses to the project Earn-in phase, this will take four stages, where it will invest US$5.2M over the next 3 years to

    obtain a 51% interest (stage 1). Subsequently, it could opt for a 60% interest if it produces the PEA over the next 3 years (stage 2). Then it could increase its interest to 70% by funding the feasibility study over the next 3 years (stage 3). HOC may obtain a 75% interest in the project if MRZ assigns shares or exercises the financing option (stage 4). "We are very pleased to be part-nering once again with Hochschild to explore and advance one of our projects. Indra will complement our seasonal exploration activities in the Mio-Pliocene belt of Chile and in the Santa Cruz region of Argentina," said Mr. Stephen Nano, CEO of MRZ.

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    R evelo Resources (TSXV: RVL) completed the drilling of 2,972m in 10 holes of its Loro project,

    which covers a total of 4,800h in northern Chile. The work, focused on the Chucao and Tricao-Caleu veins, located in the Millahue and Pitekun Hills, res-pectively, has confirmed the pre-sence of a system of veins with low epithermal sulphuration and large extensión that yielded: 19.2g/t Ag , 0.1g/t Au @ 76m in hole L-003, 179g/t Ag, 0.51g/t Au @ 0.5m in hole L-005. "These exciting and very encoura-ging results show a new minerali-zed system of low sulphidation epi-thermal veins ... Given the proximi-ty and similar geology with impor-tant districts of precious metals in the north and the south, geophysi-cal and geochemical studies will be carried out on the untested veins from Cerro Millahue," said Tim Beale, CEO of RVL. The drilling of the Loro project - operated by RVL with its partner JV Hochschild Mining PLC (LSE: HOC) - has shown high values of arsenic, antimony and mercury suggesting that the epithermal vein system closest to the surface has already been detected. A deeper drilling may be necessary at the north of Cerro Millahue.

    Revelo confirms existence of veins with low epithermal sulphidation in Loro

    No.67 / Septiembre 2018

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    www.cexr.cl No.63 / May 2018

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    Regional News

    REG gets better drilling results in Antakori project

    R egulus Resources (TSXV: REG) recorded three new intercepts at its Cu-Au-Ag Antakori project

    located in northern Peru, yielding significant results including: 0.38g/t Au and 7.59g/t Ag @714m in hole AK-18-014; 0.46g/t Au and 14.68g/t Ag @396m in hole AK-18-015; 1.62g/t Au and 10.57g/t Ag @137m in hole AK-18-016. "These holes represent some of the best results we have encoun-tered to date with long runs of very good grades, which include short intervals of spectacular gra-des in both the high sulphidation and skarn environments. We are also beginning to have a sufficient number of drill holes to be able to see continuity of mineralizati-on, particularly in the skarn envi-ronment," said Mr. John Black, CEO of REG. Dr. Kevin B. Heather, Chief Geolo-gical Officer of Regulus commen-

    ted that “not only are we seeing some of the best drill results, but this higher grade Cu and Au mine-ralizing event is low in arsenic and typical of the alteration and mineralization found in the perip-heral portions of porphyry copper deposits." So far 15,500m of the concession drilling program has been com-pleted and the company hopes to provide an updated resource esti-mate in early 2019. The company also announced that it expects to raise C$20M through a private placement with Canaccord Genuity Corp of not less than 10.6M shares at a price of C$1.90 per share. REG intends to use the net place-ment proceeds primarily for ex-ploration at its Cu-Au-Ag Antakori project and for general corporate purposes.

    La Victoria could host a large epithermal gold mineralization

    E loro Resources (TSX-V: ELO; FSE: P2Q) announced that the La Victoria Gold project could host large scale epi-

    thermal gold mineralization in the Rufina target area, to become the primary target for the first diamond drilling to take place on the pro-perty. Dr. Bill Pearson, CEO of Eloro said that the company is waiting to recei-ve permits to start the geological mapping, sampling and drilling cam-paign in San Markito, which is the best target zone at La Victoria, due to the discovery of significant gold and silver mineralization. ELO has now completed 1,242m of diamond drilling in three holes, ERU-10, ERU-11 and ERU-12 with the fo-llowing results: 3.71g/t Au @ 1.40m; 3g/t Au @ 0.60m in hole ERU-10; 1.80g/t Au @ 0.6m; 1.33g/t Au @ 1.3m in hole ERU-11; and 0.83g/t Au @ 1.5m; 0.86g/t Au @ 0.5m at hole ERU-12. ELO has a 90% interest in the pro-ject, which it shares with EHR Re-sources, owner of the remaining 10%.

    No.67 / September 2018

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    Regional News

    Equinox could look for a new JV partner for Brazilian concessions

    Condor Resources begins drilling at Chavin

    E quinox Gold Corp. (TSX-V: EQX, OTC: EQXFF) announ-ced that AngloGold has ter-minated the JV agreement

    on its Aurizona greenfield conces-sions in Brazil. As such, EQX will retain its 100% interest in this area of approxima-tely 1,800km2 and opens up the possibility of identifying a new JV partner, as it will continue to review the exploration information genera-ted by AngloGold to prioritize new drilling targets. AngloGold has spent nearly US$9M since August 2016 on exploring these properties by completing mo-re than 43,000km of linear high re-

    solution aeromagnetic, radiometric and electromagnetic surveys over the entire property, approximately 10,000m of drilling on eight targets and extensive soil geochemistry and geological mapping surveys. Mr. Scott Heffernan, VP of Explorati-on at EQX reported, "AngloGold’s exploration programs have signifi-cantly advanced regional geological models and have highlighted several untested targets that warrant furt-her exploration. We will continue to review and interpret AngloGold’s exploration data to prioritize regio-nal exploration targets for future drilling, on our own or with a new JV partner."

    C ondor Resources Inc. (TSX.V: CN) announced that it has begun drilling the Chavin project loca-

    ted in the central Andes mineral belt in northern Peru and covers an area of 8 km2. The diamond drilling program requires at least 1,000m, and is designed to test polymetallic veins to depth that are exposed at the surface for over 1km. CN will also begin a new geop-hysical survey program, which covers 23km of linear polarizati-on and magnetometry. This will extend to the south and east the principal drill target at its Puca-mayo East project, located in the Ica region, and also define addi-tional targets. The main objective of CN is to discover a major new precious metals or base metals deposit in Peru, and it has an exploration team based in Lima to develop new projects.

    Red Eagle applies restructuring

    Red Eagle Mining (TSXV: R; BLV: R) announced a private placement of 250M shares, to raise C$50M that will be used to pay long-term debt and working capital of the Au de Santa Rosa project. The placement is part of a com-prehensive restructuring of the com-

    pany, which also agreed to liquidate its US$60M credit line with Orion Mine Finance and Liberty Metals & Mining Holdings including interest accrued for US$28M and US$15M on the same terms of the private placement.

    No.67 / September 2018

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    Regional News

    LUG keeps focused on the 2019 gold production of Fruta del Norte

    L undin Gold (TSXV: LUG) re-ported new advances at its Fruta del Norte Au project and confirmed that the com-

    pany remains focused on the next 12 months plans to achieve its first gold production in 2019. LUG negotiated a loan of US$350M to develop and construct the pro-ject, where overall engineering is 48% complete and construction is 21% complete.

    The company has also completed drilling 6,245m of the El Puma tar-get, located in the southern Suarez Basin, and continues to work on mapping, geochemical sampling and permit requirements for future drilling on epithermal Au-Ag targets. Mr. Ron Hochstein, CEO of LUG, re-ported that the company signed an offtake agreement for a significant portion of its gold concentrate with Boliden. This high technology meta-

    llurgy company has a significant net-work of mines and foundries throughout Europe. It signed a se-cond agreement that secures con-tracts for approximately 80% of anti-cipated production with Orion, a global private capital company spe-cializing in mining investment strate-gies for base and precious metals. .

    C abral Gold (TSXV: CBR) (OTC Pink: CBGZF) announced the discovery of stockwork style mineralization in the Vila

    Rica discovery area, located 30m south of the original intercept at the Cuiú Cuiú project in northern Brazil. Sampling returned a result of 1.1 g/t

    Au @ 10m and this opens up the possibility of similar mineralization in areas that were dismissed due to the absence of surface anomalies. CBR began the first phase of an au-ger drilling program that will cover 400m with intervals of 50m to 100m. The results will be released later.

    Mr. Alan Carter, CEO of CBR said that "It may well be that the best targets are yet to come, as we commence our evaluation of these newly defi-ned trends."

    Cabral Gold detects stockwork mineralization in Vila Rica

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    Regional News

    New exploration targets defined at San Matías

    C ordoba Minerals (TSXV: CDB; OTCQX: CDBMF) has defined new exploration targets after re-logging Al-

    cran drill cores from the Cu-Au San Matías project located in the De-partment of Cordoba in Colombia. There is a potential resource exten-sion at the project due to patterns that show greater values of Cu, Ag, Zn and S toward the north. The fin-ding coincides with the elements found in the ACD036 intercept (4,440g/t Au, 10.25% Cu, 24.7% Zn and 347g/t Ag @ 90m). The re-logging of Alacran drill cores identified quartz veins that could be related to the breccia to the east of Alacran.

    "Our understanding of Alacran and the northern part of our San Matias District is continuing to evolve, highlighting significant potential for additional discoveries… Our geolo-gical team has been working tire-lessly to identify potential new mi-neralizing sources for the Alacran and Montiel Deposits, opening the door to discovery and resource ex-pansion," said Mr. Mario Stifano, CEO. CBD raised US$1.3M when the pri-vate placement of 16.29M shares was closed with High Power Explo-ration, to advance exploration at San Matias

    N RG Metals (TSXV: NGZ; OTCQB: NRGMF) an-nounced new lithium results from its second

    drill hole at the Hombre Muerto North project located in the Salta and Catarmaca provinces in Argen-tina. The samples were taken from depths ranging from 91.0m to 230.5m below the surface and yiel-ded findings from 779 to 507mg/l lithium with low Mg to Li ratios ranging from 2.3 to 3.0.

    The average for the entire hole is 638 mg/l lithium with a Mg to Li ratio of 2.65 to 1.0. "These results demonstrate the presence of high-grade lithium bearing brine across the breadth of our property. We look forward to completing the second pumping well and to fast tracking the project to production," said Mr. Jose de Castro, COO of NRG. Based on these results, the com-pany has decided to drill a new ho-le adjacent to the central hole, with an anticipated target depth of 400m.

    NRG extends drilling in the Hombre Muerto project

    C olumbus Gold (TSX: CGT) (CGTFF: OTCQX) and IAMGOLD Corpora-tion (TSX: IMG) have

    signed an agreement to acquire up to a 70% interest in the Mari-pa gold project located in French Guiana, France. The agreement commits the par-ties to incurring expenditure of US$200,000 in the first year, cu-mulative expenditure of US$1.5M by the second, US$2.75M by the third, US$4M by the fourth, to complete an investment of US$5M by the fifth year, so acquiring a 50% interest for the first stage of the project. Subsequently, the parties could form a 50/50 JV to acquire a ad-ditional 20%, by completing a Preliminary Feasibility Study (PFS) over the next 3 years. If any party’s interest falls below 10%, it will convert to a 2% NSR and the other party can buy 1% for US$3M. The Maripa project covers ap-proximately 120km2 and 134 holes have been drilled so far. Drilling between 2002 and 2006 yielded the following results: 36m @ 4.3g/t Au; 10.5m @ 12.4g/t Au; 34.5m @ 1.8g/t Au; 25.5m @ 2.5g/t Au y 21.5m @ 2.2g/t Au.

    CGT and IMG negotiate the Maripa project

    No.67 / September 2018

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    © 2015 Chile Explore Report All Rights Reserved

    Santiago Venture / September 4th 2018

    Santiago Venture Ticker Shares (M) Market Cap

    ($M) Price Last month

    Chilean Metals

    CMXCL 25.2 4.07 0.12 0.090

    Columbus Gold Corp

    CGTCL 141.665 103.42 0.20 0.28

    Gold Reserve GRZCL 76.077 391.80 2.37 2.50

    Inca One Gold Corp

    IOCL 78.7 6.69 0.055 0.045

    Montan Mining MNYCL 19.7 0.59 0.060 0.045

    PPX Mining Corp PPXCL 246.5 16.02 0.095 0.095

    Puma Exploration PUMACL 101.3 6.58 0.060 0.070

    Red Eagle RDCL 184.3 49.76 0.16 0.090

    Santacruz Silver Mining

    SZCL 113.5 21.00 0.095 0.090

    Southern Silver Exploration

    SSVCL 54.483 18.25 0.22 0.17

    Wealth Minerals

    WMLCL 34.195 59.84 0.66 0.78

    No.67 / September 2018

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    © 2015 Chile Explore Report All Rights Reserved

    The Chile List / September 4th 2018

    ABOUT CHILE EXPLORE REPORT: Chile Explore Report is published twelve times a year during the first week of each month by Tiger Information Services SpA, Badajoz 130, of 1406, Las Condes, Santiago; legal representa-tive Iain Cassidy, [email protected]. The information contained herein is derived from sources believed to be reliable but no warranty expressed or implied exists between the recipient and the Publisher that this information is accurate. The contents of Chile Explore Report are intended for information purposes only based on news and information obtained and/or researched by the Publisher and is not intended to be construed as advice to buy or sell shares in any security or asset. The Chile Explore Report is intended to be authoritative, critical and independent. The Publisher is not a stock tipper or promoter and is not paid, spon-sored, provided with stock options or otherwise enticed to write positive pieces about the companies covered. The Publisher does invest in some of the companies’ active in the Chile exploration sector and ends up with dogs as well as winners. The Publisher has been involved in mining information research, analysis and publication for over ten years including roles such as investor relations, media relations, senior reporter and re-search consultant for companies involved in mining and exploration, and reputable industry information providers. The Publisher is not a registered securities professional and as such is not qualified to give personal or individual investment advice. Resource investing is risky and you could lose part or all of your investment. Consult a registered investment professional before making any investment in any security. For more infor-mation contact please write to [email protected]. COPYRIGHT: © 2013 Chile Explore Report. All Rights Reserved. Unauthorized duplication or distribution of all content herein prohibited. This document is copyright protected and may not be copied, disseminated or distributed without the prior express consent of the publisher.

    Company Ticker Shares (M) Market Cap Price Last month

    Admiralty Resources ADY 959 4.8 (A$M) 0.015 0.016

    Alliance Resources AGS 400.1 35.21 (A$M) 0.10 0.099

    Amerigo Resources ARG 173.6 93.74 (C$M) 0.72 0.87

    Arena Minerals AN 80 12.80 (C$M) 0.080 0.060

    RIO2 RIO 65.2 41.08 (C$M) 0.64 0.87

    Austral Gold AGD 478.7 71.81 (A$M) 0.085 0.090

    Capstone Mining CS 382.1 340.07 (C$M) 0.81 0.90

    Coro Mining COP 159.4 16.74 (C$M) 0.075 0.095

    Equus Mining EQE 434 15.19 (A$M) 0.027 0.024

    Fiore Gold F 87.42 31.37(C$M) 0.35 0.42

    Golden Rim GMR 5.15 14.39(A$M) 0.022 0.026

    Herencia Resources HER 24.43 0.87 (GBP) 0.028 0.025

    Hot Chili HCH 347.7 9.04 (A$M) 0.024 0.027

    Kingsgate Consolidated KCN 223.6 49.19 (A$M) 0.23 0.24

    Los Andes Copper LA 218.1 50.16 (C$M) 0.28 0.30

    Mandalay Resources MND 410.4 147.74 (C$M) 0.16 0.18

    Mirasol Resources MRZ 44.2 71.70 (C$M) 1.51 1.73

    NGEx Resources NGQ 187.7 161.42 (C$M) 1.00 1.00

    Orosur Mining OMI 96.6 21.74 (C$M) 0.030 0.060

    Revelo Resources RVL 100.2 4.01 (C$M) 0.010 0.015

    Regulus Resources REG 56.4 86.86 (C$M) 1.90 1.85

    Blue Moon Zinc Corp MOON 70.65 3.53 (C$M) 0.070 0.085

    SSR Mining SSRM 80.7 746.88 (C$M) 11.05 10.36

    Southern Hemisphere SUH 290 23.20 (C$M) 0.061 0.060

    TriMetals Mining Inc TMI 135.7 29.85 (C$M) 0.085 0.085

    No.67 / September 2018

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    © 2015 Chile Explore Report All Rights Reserved

    Conferences and events

    September 4th - 5th

    MINING INVESTMENT CENTRAL AMERICA

    Ciudad de Panamá, PANAMÁ

    www.mininginvestmentlatinamerica.com

    September 12th - 14th

    EXPOMINA PERÚ 2018

    Lima, PERU

    www.digammaperu.com

    September 22nd - 25th

    SEG 2018

    Keystone, EEUU

    www.digammaperu.com

    October 10th - 11th

    CHILE EXPLORE CONGRESS: EVOLUTION 2018

    Santiago, CHILE

    www.cexr.cl/evolution/public

    October 29th - November 1st

    IMARC

    Melbourne, AUSTRALIA

    www.imarcmelbourne.com

    October 29th - 30th

    Mining & Investment Latin America Summit

    Lima, PERU

    www.mininglatam.com

    Conferences and events

    No.67 / September 2018

    http://www.mininginvestmentlatinamerica.comhttp://www.digammaperu.comhttp://www.digammaperu.comhttp://www.cexr.cl/evolution/publichttp://www.imarcmelbourne.comhttp://www.mininglatam.com