PROYECTO CHUMINGA

PROYECTO CHUMINGA

Locatión
The area is located in Region II of Chile,
aprox. 80 km north of Taltal city, and 50 km N
of Santo Domingo Mine and Plant. And 150
km south of Antofagasta. Dirty road with
gravel in very good condition. Easy access to
electrical energy through nearby high voltage
line and 3 km proximity to seawater wells.
Mining friendly district, without relevant
environmental and community problems.

History
The historical data highlight a series of small
exploration tunnel and small underground
mine with production of copper oxides and/or
gold. The project includes surface mapping,
drilling (Green Mining and Minera Activa), and
chip samples from surface and underground,
with economic copper-gold mineralization
observed in the 900 m of exploration tunnel
and DDH drillholes.

Geology
The Chuminga Project contains a well-mineralized hydrothermal copper - gold stock breccia, developed at a coastal
location on the western side of the gabbro-diorite stock on a mountain side at approximately 625 meters above sea level
("masl"). The mineralized body is generally tabular, dipping 600 to 700 to the east, and from various reports has the
following dimensions; a width of 60m to 150m and an 800m to 1,200m strike in a north-south direction. Sericite-chlorite-
amphibole-magnetite-haematite, tourmaline alteration forms a halo around the central copper mineralized core.

Mineralization consists of a sulphide association dominated by chalcopyrite-chalcocite incipient bornite with pyrrhotite-
pyrite-sphalerite-magnetite which is present the disseminations and fracture fillings. These sulphides have been oxidized
to both iron oxides (hematite-goethite-limonite) and copper oxides (atacamite-chrysocolla) which occur in fracture fillings.

The project was initially prospected by surface trenching over an outcrop area measuring 250m by 100m between
600masl to 700masl. The weighted average results of the three trenches are 1.21% Cu; 0.41g/t Au and 3g/t Ag. Most of
the recognized mineralized strike of the body is scree covered as rock debris is continually moving down a 400 mountain
slope. The trenching results led to sub-surface prospecting of the mineralized breccia by tunnels at 545masl and 635masl
(below the outcrop area).

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 PROYECTO CHUMINGA

These tunnels did not transect the full width of the mineralized breccia. Weighted average sampling results for the upper
level were 115m at 0.90% Cu and 0.48g/t Au. Subsequent re-sampling has indicated an increase in weighted mean
values for the body to 1.4% Cu, 0.4g/t Au and 1.0% Zn.

Based on prospecting dimensions and results of driilholes of Green Mining, there is an exploration target range of 50 to 60
million tonnes of 1.0 to 1.1% Cu; 0.3 to 0.4g/t Au; 0.5% to 1.0% Zn. The potential quantity and grade of the target is
conceptual in nature as there has been insufficient exploration to define a Mineral Resource and it is uncertain if further
exploration will result in the determination of a Mineral Resource.

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 PROYECTO CHUMINGA

Significant Chuminga drillholes (DDH) intersections at >0.5% Cu cut-off:

Hole ID From - to Interval (m) Intersection (Cu and Au)

SA – 1 From 98m to 116m 18 0.98% Cu and 0.13 g/t Au
SB – 2 From 65m to 126m 61 0.90% Cu and 0.15 g/t Au
SC – 1 From 75m to 109m 34 0.61% Cu and 0.08 g/t Au
SD – 2 From 54m to 102m 48 0.78% Cu and 0.09 g/t Au

DDH_SD-1_87m. Secondary Biotite with Cpy (relict),

overprint ser

DDH_SC-1_83.3m. Brochantite.

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 PROYECTO CHUMINGA

Exploration tunnel with high content of oxides of copper. The

sampling marks of chip channels are observed.

Pacific Ocean

Copper oxides in hydrothermal breccia,

with monomictic clasts of diorite - gabbro.

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