- Four identified targets within 7,257 Ha of exploitation concessions
- Lying directly between world class porphyry deposits, Relincho and El Morro
- Plans to drill at least 2,000m over the year with the goal of finding the next Relincho
Location
- Atacama region of Northern Chile
- 55km east of Vallenar city
- Accessible by public roads
Geology
Placeton, Relincho & El Morro are located within a major regional lineament where major geological units define two distinct geological domains. The lineament is believed to represent a deep structural feature that favored the emplacement of intrusions and fluids over a long-time span, from the Jurassic to the Tertiary geological ages.
Placeton is located within a NNE Tectonic Block that is less eroded than the tectonic block to the west hosting the Relincho Deposit and shows features of an epizonal magmatic - hydrothermal system that displays Cu-Au-Ag mineralization at surface, preserved in a Triassic/Jurassic age host rock. The block is less eroded to the SW, preserving the expected porphyry related mineralization.
At Relincho, the porphyry related mineralization is emplaced in a strong eroded Cretacic Intrusive Complex whilst the El Morro Deposit is located to the East within the same corridor and is related to a different event of the Eocene-Oligocene age
Four identified targets:
- Northern, central and southern targets - Appear related to the same magmatic-hydrothermal system but show different degrees of exposure
- Caballo Muerto - Host attractive geochemistry anomalies for copper, moly and gold. The alteration within the porphyritic intrusion shows late-magmatic āDā veining
Work Program
Based on the January 2021 NI 43-101 Recommendations
Phase 1:
- Detailed geological and structural mapping
- Geochemical and geophysical (ground magnetics & IP) survey
- 3-5 months duration
Phase 2:
- Target testing based on Phase 1 results
- Mineralogical analysis; geophysics
- 2,000m scout drilling program
- 3-6 month duration