Location and access
Tamaya is located 400 kilometres north of the Chilean
capital, Santiago, and 80 kilometres south of La Serena and
Coquimbo, Region IV’s provincial capital.
The project comprises 6,890 hectares of mining and exploration
concessions. Additional applications have been made over ground
hosting extensions of known mineralisation totalling 2,700
hectares.
The topography is dominated by the main exploration target,
the 600 metre high, eight kilometre long, Cerrillo Tamaya
Ridge.
The project is located at less than 1,000 metres altitude,
where activities can be performed all year round. The climate
is Mediterranean, with relatively hot, dry summers and generally
mild winters.
Why is Tamaya an attractive
exploration project?:
- World class mineral province - located
in a major Chilean metallogenic belt near major mines and
deposits
- Large project area (6,890 ha) offers
large tonnage potential
- Established infrastructure nearby -
supports timely, low-cost exploration, and future development
and operation
- Historic mining field, no modern systematic exploration
– copper production of 2Mt @ 12%* recovered in the
period up to the 19th Century
- Exploration confirming copper potential
– mapping, sampling and geophysics – highlight
geological potential
- Multiple mineralisation and drill targets
– high-grade sulphides, bulk tonnage oxides and porphyry
targets
World Class Mineral
Province
Tamaya is situated within the Early Cretaceous
Metallogenic Belt of central and northern Chile, close to
the eastern margin of the Atacama Fault Zone. The main regional
geological framework comprises extensive volcano-sedimentary
sequences with multiple phases of intrusions. The metallogenic
belt is host to a number of significant IOCG and porphyry
deposits including:
- Andacollo (Teck)
- Tres Valles (Vale)
- El Espino (Pucobre)
- Punitaqui (Glencore)
A historically significant mining metallogenic
belt within Chile, the southern end was largely ignored during
the late 20th Century, although exploration has increased
significantly over the five years following the discoveries
of several significant deposits, including El Espino and the
porphyry mineralisation located beneath the historic workings
at Andacollo.
Infrastructure
The district has excellent access and infrastructure:
-
Services - Mining and
exploration services and accommodation in the town of
Ovalle, 20 kilometres to the east and Coquimbo 80 kilometres
to the north
-
Roads - An extensive
network of existing graded tracks that link to asphalt
roads 5 kilometres either side of the property and the
national motorway 15 kilometres west
-
Port - Container,
cargo and bulk ore-handling port facilities in Coquimbo
-
Power - High and low-tension
power lines running parallel to the Pan American Highway
and linking the towns of Cerrillos de Tamaya and Ovalle
-
Water - Water rights
have not been sought, but the Limari River has perennial
flow and the project is less than 35 kilometres from
the coast
History
Copper was first discovered and mined at Tamaya
around 1605, and was worked intermittently up until the
19th Century. Production peaked between 1850 and 1890, when
39 companies operated in the district.
High-grade copper ore from the mine was railed to nearby
smelters. Major activities ceased around 1905 due to the
fragmented ownership and the lack of investment in the operations.
During the 20th Century, small-scale, hard-rock extraction
was carried out by a small national company and ore was
concentrated on site.
The Tamaya project covers an extensive area of historic,
high-grade copper mining, with reported historical production
of 2Mt @ 12% copper1, with grades of up to 20%. The project
has never been explored using modern day techniques. Historical
production concentrated on the high-grade calcite-sulphide
vein in the core of the larger structures. Since the 1960’s,
activities have been limited to the collection and sale
of mineralised waste rock left in the dumps around the site.
The historic mining was based on exploiting the sulphide
veins seen in the structures. There was no systematic exploration
or drilling, and the subsequent fragmented tenement ownership
has not permitted any until now.
Exploration
Targets
Exploration activities at Tamaya will test a variety of
copper oxide and sulphide targets, including:
1. Lower grade bulk-tonnage
In the broad shear and breccia structures that host the
main veins, material that was not worked historically because
of their lower grades, and in recently identified structures
including Tortolas and Lecaros.
2. Remnants of the high-grade
sulphide vein
Mineralisation down to the historical mining levels, up
to 700 metres below the Tamaya ridge.
3. High-grade sulphides
below the old mine workings
Sulphides mineralisation beneath the historical mining levels.
4. Porphyry
Potential porphyry target indicated by the alteration and
mineralisation styles, and the ground-magnetometry survey.
Additionally, exploration is now revealing gold and silver
precious metal values in the mineralised structures that
were not previously recognised. This will be tested as part
of the on-going exploration activities.
Exploration strategy
Elementos’ exploration strategy involves testing the
extensive known mineralisation, whilst simultaneously exploring
for new targets. The strategy will involve mapping, sampling,
alteration studies, geophysics and drilling. It is planned
to drill-test the initial targets within the first year.
The first phase exploration activities that commenced in April
included:
- Mapping - of known structures and identifying new structures.
Approximately 70% of the property covered by reconnaissance
exploration
- Sampling - more than 300 reconnaissance samples from
outcrops, historic workings or from waste piles proximal
to mines
- Geophysics - 690 kilometres of ground-magnetometry
- Drill target identification - five core target areas
identified: Central, Lecaros, Tortolas, Norte and Este
Exploration results
Sampling and Mapping
High-grade copper widespread across the project area with
peaks of 7.44% in outcrop and 7.91% in dumps. Copper grades
are consistently high in all primary and secondary structures,
implying significant tonnage potential.
Gold values are widespread over the project area including
anomalous gold values up to 5.8 g/t in outcrops and 9.5
g/t in dumps. Gold anomalies occur in all primary and secondary
structures, but are most consistent in the eastern sector.
The gold grades have poor repeatability in individual samples,
implying that the gold is coarse-grained
Geophysics
A 690 line kilometre ground magnetometry survey successfully:
- Delineated numerous strong, linear magnetic anomalies
that correspond with the principle and secondary mineralised
structures and their extensions
- Helped define the structural and lithological framework
for modelling the controls on mineralisation
- Showed most historically mined prospects are concentrated
near a strong magnetic low that extends for over two kilometres
and is flanked by moderately strong magnetic highs. Subsequent
sampling identified high-grade mineralisation related to
this and extended the zone up to six kilometres along strike
- Defined a deeper intrusive anomaly in the eastern sector
of the project
Preliminary interpretations include:
-
The principle mineralised structure is
clearly defined over four kilometres, with off-sets by
cross-cutting structures
-
Follow-up mapping has identified multiple,
sub-parallel, north-south trending structures that are
also strongly mineralised
-
Several strong magnetic anomalies correlate
to recently mapped high-grade mineralised units in the
field
-
The deeper intrusive is a potential porphyry
target
-
Current Exploration Activities
Current exploration activities in progress include:
- Drill target definition - detailed channel sampling
and mapping of the main structures for representative
mineralised grade and widths
- IP Geophysics (in progress)
- Earthworks – access for drilling, drill pads and
water storage
- Environmental approvals - preliminary environmental
and archaeological studies
- Community engagement - community relations and awareness
- Water management - water rights, access and licencing
under investigation
Tenement acquisition agreement
Joint Venture Terms
Elementos will have the right to earn-in to 50% of the project
within three years by managing and funding all exploration
activities for a total expenditure of US$7 million, including
a minimum annual drilling commitment of 5,000 metres.
On completion of the earn-in period, a contributing joint
venture will be formed for continued exploration, evaluation
and development.
Joint Venture Partner
HMC Gold SCM (HMC Gold) is a majority owned subsidiary of
the Haldeman Mining Company (HMC), in partnership with MIC,
an Australian investment firm.
HMC Gold assets include Tamaya and the Tambo de Oro project,
30 kilometres south of Tamaya, which is advancing through
pre-feasibility studies into development.
HMC is a privately owned Chilean mining company with a producing
copper mine and fine-cathode plant (Longacho and Sagasca)
in northern Chile, which produces some 19,000 tonnes per year
of copper cathode. HMC also holds a further 110,000 hectares
of active exploration projects nationally.
Back to Top |
