Cerro Buenos Aires lies within the Paleocen volcanic belt of northern Chile. That hosts significant copper deposits such as Cerro Colorado (BHP) and Relinch (Nueva Union- Teck- Goldcorp). The project targets large outcrop areas that display characteristics of upper portions of a porphyry copper system and additional aspects of a high-sulfidation precious metals system.
Historical operators completed heli-borne magnetics and TEM that resulted in multiple anomalous zones interpreted as magnetite-destructive advanced argillic alteration. Historical drilling targeted magnetic highs that were thought to be associated with hypogene porphyry copper centers. However, the 3, 300-meter drillholes, completed by Teck, did not drill deep enough to test the potential of the system. EMX believes there are multiple untested targets throughout the project which provide potential upside for our royalty position.
EMX acquired a 2% NSR on the Cerro Buenos Aires property from Revelo Resources in 2020 (See EMX Press Release dated March 26, 2020). The project is operated by Pampa Metals a publicly traded Canadian company (CSE: PM), see their website for more project details https://pampametals.com/cerrobuenosaires/. Nearby mines provide context for the project, but do not necessarily indicate similar styles of mineralization within the project.