Untapped potential – The Mostazal Project
Westminster Resources acquired a 100% interest in the 16km2 Mostazal copper property located in the Atacama region of Chile, 80 kilometres northeast of Copiapo. The Atacama Desert is among the richest copper regions on earth, hosting some of the world’s most significant porphyry copper deposits. The Mostazal property is situated within the 500-kilometre long, north-south trending Domeyko Fault System, the major structural control for the majority of Chile’s largest copper mines including Escondida (BHP, Rio Tinto), Chuquicamata and the El Salvador mine (Codelco).
Mostazal historical data consisting of 11,380 m of 60 DDH drilling (covering 10% of the area, only up to 150 m deep), allow estimating an indicated resource of 10 million tons of 0.95% Cu and 6 g/t Ag. The potential lies within the Westminster DDH testing of the extensive chargeability anomaly in the west. The preliminary interpretation of the historical geophysical data indicates that much of the known mineralization at surface is closely correlated to four deep-rooted magnetic anomalies. The central magnetic anomalies form a circular feature approximately 1.6 km in diameter.
Given that the majority of the grid is mapped as andesite, the circular shape of the central magnetic high may be indicative of magnetite emplacement through hydrothermal alteration. Known copper mineralization occurs within this magnetic high, particularly within the two lobes. There is “striking correlation between the known mineralization and the two magnetic highs”.
It is estimated that the potential of the area is greater than 100 million tons of inferred resources because the geochemistry indicates a potential area of occurrences of mineralized lenses of 800 ha and because the extensive chargeability anomaly in the West that has not been recognized with drill holes. Westminster Resources will be targeting these key areas for additional exploration at Mostazal, targeting both additional stratabound mantos-style mineralization as well as the modelled porphyry at depth.
Ilo Norte and Ilo Este, Peru – two mines two different styles of deposits
An IOCG (Iron Oxide Copper Gold) skarn style deposit is the focus at Ilo Norte. This style IOGC’s are typically found within the Peruvian Coastal Cordillera belt. Copper grades found within a IOGC deposit tend to be higher than those found in porphyries and contain significant quantities of ore averaging over 1% copper while porphyries tend to average closer to 0.5% copper. IOGC’s will often commonly also include gold, silver and iron providing additional benefits to the deposit’s economics.
At the Ilo Este project the company is focused on a porphyry copper deposit. Ilo Este located within 100 kms from the west of the Andes Mountains in southern Peru and is host to Peru’s largest and most prolific copper producers. Over 600,000 tonnes of copper are produced within 100 km’s from Ilo Este. This tonnage is set to increase considerably in the coming years as existing mines expand and new mines are being built.