Metminco Limited Announces Grant of the Chuscal Exploration Licences; Plans to Undertake Maiden Drilling Program of Approximately 2,500M of Diamond Drilling to Test the Large Outcropping Chuscal Porphyry Gold Target with Epithermal Gold Overprint
The Company is planning to undertake a maiden drilling program of approximately 2,500m of diamond drilling to test the large outcropping Chuscal porphyry gold target with epithermal gold overprint. The target is associated with a large coincident geochemical and geophysical anomaly. This program is due to occur once all remaining permits and approvals are obtained and financing is secured. This is expected to be shortly after, and subject to, the completion of the merger with Andes Resources Limited ("Andes") and associated financing which the Company aims to complete on or around mid-July 2019. All available data is being compiled and the interpretation verified on surface. A detailed underground mapping survey is intended in the area once authorisations are obtained. This information will be combined with magnetic susceptibility measurements on the coarse rejects from the multiple phases of geochemical sampling to allow development of a detailed, 3D exploration model to guide inversion modelling of existing aeromagnetic data. The detailed 3D model will be used to define structure and mineralisation characteristics to guide drilling. Further details will be provided once this process is completed. To the north of the Chuscal target, within the granted exploration licenses is the southerly continuation of the Tesorito trend. This trend has not been previously mapped or sampled. Subject to landowner access, soil sampling and mapping will be extended to the north of the existing grid to cover this trend.