Redondo-Veronica is a 5,000 hectare royalty asset located 45 km north-northeast of the La Escondida mining district, and immediately to the east of EMX’s Block 2 royalty asset. Redondo-Veronica is an early-stage exploration property with two porphyry copper targets: Cerro Redondo Norte and Cerro Redondo Sur.
Hydrothermal alteration at the Cerro Redondo Norte copper target zones outwards from quartz-sericite alteration to supergene argillic and more distal propylitic alteration. This target area, entirely contained within the Redondo-Veronica land package, was drilled in the 1990’s by Placer Dome who noted the presence of copper oxide mineralization. The property is currently operated by Pampa Metals Corp., a Canadian publicly traded company (CSE: PM; “Pampa Metals”), who have not been able to gain access to these historical records. The copper target at Cerro Rendondo Sur displays a zone of silicification, quartz-sericite alteration and advanced argillic alteration. This target shows no evidence of prior drill testing and is separated from Cerro Redondo Norte by a post-mineral, gravel-filled pampa.
The principal strands of the Domeyko Cordillera fault zone that extend approximately north-south through the La Escondida mining district, including the Escondida Fault, (also sometimes referred to as the West Fissure Fault Zone or Falla Oeste), pass to the immediate west of the Redondo-Veronica property, and between Redondo-Veronica and EMX’s Block 2 royalty asset. Current models suggest that Cerro Redondo Norte and Sur may be connected beneath an intervening gravel-filled pampa. Plans for future work by Pampa Metals include geophysical surveying to evaluate the veracity of this model and drill testing of the best anomalies.
EMX acquired a 1% NSR on the Redondo-Veronica property from Revelo Resources in 2020 (see EMX Press Release dated March 26, 2020).