- ATERRA Metals (CSE:ATC) reported a maiden inferred resource estimate for its Totora project in Chile.
- Phase-2 drilling is planned to maintain development momentum.
- ATERRA stock last traded at C$0.06 and has added 50% year-to-date.
ATERRA Metals (CSE:ATC) reported a maiden inferred resource estimate for its Totora project in Chile, located about 60 kilometres from Vallenar in the Dos Amigo mining district, including 1.067 billion pounds of copper and 792,900 troy ounces of gold.
The project, bolstered by nearby highway access and power infrastructure, hosts four near-surface copper and gold deposits, including Frontera, Clinton and Algarrobilla, all of which are detailed in Thursday’s news release.
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Mineralization is adjacent to Compañía Minera del Pacífico’s Pajonales copper and gold deposits and only 15 km southwest of Hot Chili’s La Verde discovery, which continues to deliver high-grade drilling results.
ATERRA will now turn its attention to phase-2 drilling to extend the resource, test unexplored targets and take initial samples for metallurgical testing.
Leadership commentary
“This maiden inferred mineral resource is an important milestone for ATERRA and the Totora project. Since finalizing our option agreements earlier this year, we have integrated a substantial body of historical drilling with the results of our phase-1 program to establish a resource of 159.8 million tons containing more than one billion pounds of copper and approximately 793,000 troy ounces of gold. The historical work provided a strong starting point, while our phase-1 drilling provided important confirmatory geological and assay information and improved our understanding of where the mineralized systems may extend,” Carl Hansen, Chief Executive Officer of ATERRA Metals, said in a statement.
“Our next step is phase 2. We intend to focus on testing potential extensions of the Frontera deposit and its higher-grade copper-gold core, testing extensions of the Totora mineralized system, and completing infill drilling where increased drill density may improve confidence in the inferred resource. We believe there is meaningful opportunity to expand this initial resource while continuing to evaluate the broader Totora project,” Hansen added.
About ATERRA Metals
ATERRA Metals is a junior copper and gold mining company active in Chile.
ATERRA stock (CSE:ATC) last traded at C$0.06 and has added 50% year-to-date.
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