Explorer Altair secures 700 ha property next to HudBay’s Constancia mine in Peru
TORONTO (miningweekly.com) – Canadian explorer Altair Gold has signed a binding letter of intent with a third party to acquire Epic Mining, which owns 99% of Panamericana, the 100% holder of the rights, title and interest in the 900 ha Lejin mineral property, in southern Peru.
Altair advised that 700 ha of the Leijin property was surrounded on three sides by HudBay Minerals’ Constancia mine, in which C$1.7-billion had been invested, with commercial production achieved in April 2015. The Constancia mine was an openpit operation with a 22-year life, mainly extracting copper with molybdenum and silver by-product credits.
According to Altair, limited sampling conducted on the Leijin property had detected traces of alteration suggesting the potential for copper mineralisation. On closing of the acquisition, the company would consider an exploration programme to test targets on the properties.
To secure the property, Altair would issue 500 000 common shares and pay C$60 125 after securing regulatory approvals.
Comments
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation