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Mundoro announces new copper project in Arizona with Vale

Published by , Editorial Assistant
Global Mining Review,

Mundoro Capital Inc. has announced the staking of the Picacho Project in Pinal County, Arizona.

Picacho Property Highlights:

  • The Picacho Project is situated within the Laramide Porphyry Belt, a prolific region of porphyry copper deposits extending from northern Mexico through the southwestern US. The Project is surrounded by a cluster of known porphyry copper deposits including, the Resolution Deposit, the Miami-Inspiration District, Ray, Silver Bell, Lake Shore, Florence Copper, and others.
  • Preliminary field reconnaissance by Mundoro conducted in 2022 identified porphyry style veining, alteration, and copper mineralisation within Laramide aged intrusive rocks. Historic drilling in the area indicates the presence of disseminated copper mineralisation characteristic of Laramide porphyry copper systems.
  • The Picacho Project has an approved work programme and budget to be sole-funded by Vale with Mundoro as the operator. The project will generate property payments, operator fees, and additional exploration potential for undercover copper porphyry systems in Arizona.

Teo Dechev, CEO and President commented: “With the addition of this new project in Arizona, Mundoro now has 10 active exploration programs in the portfolio. Mundoro’s generative business continues to expand by generating properties that can attract partner-funded exploration and royalty creation, with the focus of building long-term value for all of Mundoro’s shareholders. The Company continues to be focused on porphyry copper systems in both the Tethyan and Laramide Belt. The diversified nature of the portfolio gives shareholders multiple opportunities at a discovery in proven mining jurisdictions, while being led by a discovery-driven team.”

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Vale mining news US mining news Copper mining news