Santiago Precious Metals announces positive results for its Antofagasta project

Santiago Precious Metals is pleased to announce the results of an updated assessment for its 100%-owned Antofagasta copper-molybdenum porphyry deposit.

Online PR News – 13-March-2020 – SANTIAGO/REGION METROPOLITANA – Santiago Precious Metals Antofagasta project contains an open pit mine and concentrator plant that produces copper and molybdenum concentrates.

The evaluation of three cases will deliver the best economic results, within period of 2 years, but also optimizes the mining and technical aspects for the mineral deposit.

Santiago Precious Metals’ Chief Executive Officer, Mr. Hamish MacLeod commented on the results saying “We are delighted with the results of this assessment which highlight the significant opportunity that the Antofagasta project presents. The strong economic viability of the project, indicates that not only is it financially robust but it also has the ability to generate positive cash flows in a short period of time.”

“Additionally, Antofagasta currently has significant resources of 1.284 billion tonnes at a copper equivalent grade of 0.55%. Being located in Chile presents a huge advantage to us, with the country being identified as the most attractive jurisdiction in South America for mining investment”, added Hamish MacLeod, Chief Executive Officer of Santiago Precious Metals.

About Us - Santiago Precious Metals

Santiago Precious Metals is a precious metal exploration and mining company focused on generating continued value for our shareholders through discovery, development and capitalization of deposits of precious metals such as gold, silver and platinum group metals.

Santiago Precious Metals combines conventional exploration methods with innovative techniques developed by Santiago Precious Metals’ team of industry specialists. Santiago Precious Metals conducts comprehensive searches utilizing satellite imagery, topographical mapping and aerial surveillance to identify areas with the geographic and geological characteristics frequently found in major gold, silver and platinum group metal producing areas.

Santiago Precious Metals combines our comprehensive search capabilities with a range of detailed on-the-ground exploration techniques, including sampling rock composition, water sediment testing and core sample analysis. This enables our exploration specialist to target the localities with the highest likelihood of containing high concentration of precious metal deposits.