Mining’s old guard needs strong medicine
A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
South America-focused Franklin Mining has announced that it has decided to expand its horizons and just launched an exploration enterprise in Chile.
In a press release, the US miner said it has entered into a joint venture with Inversiones Mineras Scorpius Chile to explore the Los Totems copper mine held by Ossandón and Scorpius.
According to Franklin Mining, this grassroots exploration project covers over 22,000 hectares and gives the company an opportunity to explore for high-grade copper and gold/silver mineralization amenable to U/G exploitation and/or shallow open pit exploitation at a time when a new copper cycle is beginning.
“Small third-party claims located within the perimeter of the larger land package are currently being mined by ‘Pirquineros’ [artisanal miners] with significant oxide Cu mineralization being directly shipped to Enami [National Mining Company] leaching facilities in Copiapo,” the media brief reads.
“These ‘windows’ of mineralization are widespread and together with geological mapping, paint a clear picture of the potential to host similar mineralization.”
