REG - Antofagasta PLC - UPDATED MINERAL RESOURCES

AntofagastaAnnouncement

14/06/2022 07:00

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RNS Number : 7200O  Antofagasta PLC  14 June 2022

NEWS RELEASE, 14 JUNE 2022

 

 

UPDATED MINERAL RESOURCES

 

Antofagasta plc (the Company") announced maiden figures for the Encierro
deposit and provided an update on its Cachorro deposit during the Prospectors
and Developers Association of Canada ("PDAC") conference in Toronto on 13
June.

Encierro deposit

The Company announced inaugural details of the Encierro project in the Chilean
High Andes, 100 km east of the city of Vallenar and 600km north of Santiago.
The deposit is a complex Miocene porphyry copper system displaying hypogene
mineralisation with distinct sulfide and alteration zoning.

The Encierro deposit is held in a joint venture with Barrick Gold. Antofagasta
holds the majority share and operates the exploration programme.

During 2016 to 2021 diamond drilling completed by the Company identified a
significant deposit containing 522Mt of Inferred Resources(1) at 0.79%CuEq
(0.65% copper, 0.22g/t gold and 74 ppm molybdenum).

Cachorro deposit

The Company also provided an update on its wholly-owned Cachorro project,
announcing that further in-fill drilling has increased the deposit size to
155Mt Inferred Resources(1) of 1.20% copper from 142 Mt of 1.21% copper
reported as at the 31 December 2021.

The deposit is in the western Atacama Desert in northern Chile, 100 km
north-east of the city of Antofagasta and 1,100km north of Santiago. It lies
between the Company's Antucoya and Centinela operations and may benefit from
the use of their facilities.

The deposit consists of manto-type sulphides, mostly chalcopyrite and bornite
and some oxides.

Cachorro remains open laterally and additional drilling will be carried out
during the rest of this year.

 

1     Compliant with the Australasian Joint Ore Reserves Committee Code for
Reporting of Exploration Results, Minerals Resources and Reserves 2012 edition
(JORC Code). A cut-off grade of 0.5% copper has been applied.

         The geological model and resource estimation of the Cachorro
and Encierro deposits have been reviewed and validated by registered Competent
Person (Chile) Mr. Osvaldo Galvez.

 

 Investors - London                                                                  Media - London
 Andrew Lindsay      alindsay@antofagasta.co.uk (mailto:alindsay@antofagasta.co.uk)  Carole Cable      antofagasta@brunswickgroup.com (mailto:antofagasta@brunswickgroup.com)
 Telephone           +44 20 7808 0988                                                Telephone         +44 20 7404 5959
 Rosario Orchard     rorchard@antofagasta.co.uk (mailto:rorchard@antofagasta.co.uk)
 Telephone           +44 20 7808 0988                                                Media - Santiago
                                                                                     Pablo Orozco      porozco@aminerals.cl (mailto:porozco@aminerals.cl)
                                                                                     Carolina Pica     cpica@aminerals.cl (mailto:cpica@aminerals.cl)
                                                                                     Telephone         +56 2 2798 7000

 

 

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