Antofagasta expects 2024 copper output at low end of yearly forecast
Antofagasta produced 284,700 metric tons of copper in the first half, down 3.7% from the same period in 2023.
Canada’s Revelo Resources (TSXV: RVL) separated its 14,000-hectare Arrieros copper project from the 30,000-hectare Montezuma project with the idea of making the former available for option and joint-venture agreements.
The projects are located in northern Chile between the giant Chuquicamata and Centinela porphyry copper mining districts.
Arrieros lies at the heart of the Mid-Tertiary aged magmatic belt of northern Chile, referred to as the Domeyko Cordillera or the West Fissure Belt
According to Revelo, Arrieros is characterised by a large, post-mineral, gravel-filled “pampa” basin that obscures the underlying geology.
“The project area is flanked by extensive hydrothermal alteration typical of porphyry copper style deposits to the west and north at Montezuma, and is itself characterised by significant, undrilled magnetic anomalies that Revelo believes are indicative of porphyry copper systems,” the miner said in a press release.
Revelo also said that its geologists have only carried out one significant exploration campaign on the property, which was the completion of a detailed ground magnetics survey.
“This has revealed a series of magnetic features that may be related to a Mid-Tertiary batholith and/or the hypogene porphyry copper centres,” the media brief reads.
The Vancouver-based company also reported that historic exploration is very limited, as drilling is either located on the edges of the property, has failed to reach bedrock through the cover and/or has not targeted the magnetic features of interest.
