(Porphyry Cu-Mo prospect)
This Cu-Mo porphyry Project is located approximately 60 Km to the south-east of Arequipa city, in the Cocachacra District, Islay Province, Department of Arequipa, Peru. It corresponds a project in the initial exploration phase. This project is located in the Paleocene-Eocene Copper-Molybdenum porphyries belt situated to the south of Peru. The average elevation is about 2,800 m.a.s.l. The mining project is composed of four contiguous mining concessions adding in total 2,600 Ha. The area is located immediately to the north of the Minera Milpo´s concessions (http://www.milpo.com.pe/Content/Index.aspx) a successful company formed by Peruvians but operating in Chile and Peru in Co-Mo porphyry World class deposits.
Also, this mining property is located between important operating mines such as “Chapi” from Milpo (IOCG with a processing plant 30,000 tpd) and “Cerro Verde” mine a Cu-Mo porphyry deposit considered one of the most important copper producers (plant and concentrator) in Peru and being exploited by an open pit system operated by a joint venture between Freeport McMoRan Copper & Gold Inc. and Sumitomo Metal Mining Company Ltd and Buenaventura S.A.A. In 2016 Cerro Verde will expand its processing to 360,000 tpd.
The Project needs initial exploration work such as geochemistry, geophysics, geological mapping to produce anomalous targets for further drilling.