CasCan Mining today announced that it is in the final stages to acquire a 3,500-hectare copper-gold site located in the northern part of Chile’s El Indio belt.
Online PR News – 20-February-2020 – SANTIAGO – In a press release, CasCan Mining said the concessions overlie a large copper-gold-molybdenum-bearing porphyry system which has been only partially tested by three diamond drill holes which were completed in 2016.
CasCan Mining’s geological research team revealed that two of the drill holes intersected a potassic altered granodiorite porphyry including drill hole which returned 994 metres grading 0.52% copper, 0.24 grams per tonne gold and 36 parts per million molybdenum.
CasCan Mining’s Operations Officer, Mr. Nicolas Silva commented on the proposed acquisition saying “The El Nido belt is of paramount interest to CasCan Mining. With regards to the near-surface potential, it wasn’t until recently that the porphyry potential of the property was recognized.”
“Deeper seated systems represent the next stage in copper-gold porphyry mine development with major mining companies now exploring and developing bulk tonnage underground mines. We are eager to start a systematic exploration campaign with the goal of defining the full potential of the copper-gold site”, added Nicolas Silva, Operations Officer of CasCan Mining.
CasCan Mining has committed to invest US$8 million on the project over a four-year term. At least 6,000 metres have to be drilled in the first two years.
About Us - CasCan Mining
Since our formation in 2008, CasCan Mining has meticulously grown into shining example of how a successful investment in the South American gold and copper mining industry should be made. Starting with the taking of minor level holdings in some of Chile’s best performing and established multinational operations, while at the same time demonstrating to our respected partners our operational and exploratory skill set, we now find ourselves ideally placed to begin independent operation of our own.
Our focus of operations will continue to be Chile, with that country’s well established gold and copper mining industry receiving over $30 billion in foreign direct investment last year as strong demand from China helped to see average prices for copper stay around $7,245 per ton with gold prices hitting a high of $1,382 per ounce in May. Now as demand once again increases for both gold and copper, we stand poised to fully exploit this in a strategic and profitable manner for our shareholders and partners.
As CasCan Mining grows stronger still we invite you to learn more about the history and day to day operations of one of South America’s leading mineral exploration and mining companies as our continent stands center stage in the world’s market place for mineral commodities. With Chile ramping up investment into its mining industry ahead of expectations of ever higher demand for commodities, we find ourselves engaged in ever bolder expansion efforts across the breadth and scope of our structure.
Over the next twelve months plans that have been on in the pipeline for several years, will be brought to the fore as we like many of our competitors and partners take full advantage of the healthy climate of investment and rich natural resources being more than adequately being provided by South America’s largest mining producer, Chile.