Hudbay Minerals’ subsidiary, HudBay Peru S.A.C. has entered into an agreement to acquire mining properties in southern Peru near its Constancia mine.
This includes an option agreement with a private Peruvian consortium to earn a 100% interest in the Caballito (formerly Katanga) and Maria Reyna mining properties as well as an agreement to acquire 100% of the Kusiorcco mining properties from Panoro Minerals.
The Caballito property, located approximately three kilometres northwest of Constancia, is a 120 ha concession block and is the site of the former Katanga mine, which was in intermittent copper oxide production from the early 1900s to the early 1990s.
The Maria Reyna property, located within ten kilometres of Constancia, is a 5850 ha. concession block. Diamond drilling by a previous optionee of the Maria Reyna property led to a copper skarn-porphyry discovery.
The Kusiorcco property, located within seven kilometres of Constancia, is a 3962 ha. concession block near to the Caballito and Maria Reyna properties.
Hudbay is commencing permitting, community relations and technical activities required to access and conduct drilling activities on the concessions and expects to provide further details on its exploration plans for these properties in due course.