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Great Southern Copper expands Chile project

Published by , Editorial Assistant
Global Mining Review,

Great Southern Copper plc, the company focused on copper-gold-lithium exploration in Chile, has announced that it has signed two binding Letters of Intent (LOI’s) which further consolidate the company’s Especularita project and include two high priority prospects, Cerro Negro and Artemisa.


  • Purchase option agreements extend GSC’s existing claims and enable the company to earn 100% of the Cerro Negro and Artemisa properties, subject to completion of annual option payments over 4 – 5 years.
  • Cerro Negro includes the high-grade Mostaza Cu-Ag deposit previously mined by Antofagasta Minerals.
  • Artemisa includes alteration and historical artisanal copper workings adjacent to existing GSC targets at Victoria and Lipa.
  • Cerro Negro and Artemisa further consolidate GSC’s control of the extensive Colorada lithocap and provide additional evidence of potential for porphyry copper and gold mineralisation at depth below the advanced argillic alteration blanket.
  • Artemisa agreement also includes the Viuda, Brecha Amarilla, Paclas and Los Rulos prospects that include additional porphyry copper and gold and skarn targets.
  • Cerro Negro and Artemisa further enhance GSC’s drilling pipeline, which includes the Teresita-Abundante scout RC programme that is now completed with assays pending.
  • Sampling, geophysics, and metallurgy surveys are being planned to fast-track these new prospects for drilling.

Sam Garrett, Chief Executive Officer of Great Southern Copper, said: “It has taken years of patient work to bring these strategic concessions into GSC’s Especularita project and we are very excited to commence exploration of these compelling targets in conjunction with our existing target pipe-line.

“Both the Cerro Negro and Artemisa prospects provide us with key geological insights into the potential for porphyry copper-type mineralisation occurring at depth beneath the Colorada lithocap and expand the area available for exploration. Cerro Negro includes the historical Mostaza mine with high-grade Cu-Ag hosted in advanced argillic altered rocks as expected below the base of the lithocap and above a porphyry copper. Artemisa includes breccia-type copper mineralisation exposed beneath extensive lithocap alteration.

“The Colorada lithocap is vast, one of the largest under-explored lithocaps in Chile’s coastal metallogenic belt, and could potentially conceal one or more porphyry copper centres. We know from the Carmen de Andacollo Cu-Au mine to the north that similar alteration zones can be associated with large copper deposits, and these two new prospects provide yet more evidence that such mineralisation could exist at Especularita.

“We plan to assess rapidly both properties with detailed sampling, geophysics, and metallurgy programmes, with a view to completing proof-of-concept scout drilling of both targets within the next 12 months, including possible deep-drilling targeting buried porphyry copper systems.”

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Copper mining news South American mining news