La Piedra, Chile

The La Piedra Project is located 75 km from Santiago, the capital of Chile, and approximately 35 km from two copper mines owned by Anglo American plc (Los Bronces) and Codelco (Andina). Los Bronces and Andina produced 221,400 and 209,727 tonnes of copper in concentrate and cathode respectively in 2010. Both mines also produce significant amounts of molybdenum.

The La Piedra tenements cover an area of 60.5km2 and include a number of hydrothermal alteration zones, of which alteration Zone B is the most significant. This alteration zone measures in excess of 2km in length, and 1 km in width, and is exposed at surface over a vertical distance of approximately 600 m. Hydrothermal breccias and porphyry intrusives are the dominant rock types associated with the alteration zones.

The plan is to complete a surface mapping and sampling program by the end of Q4 2011, as well as a surface geophysical survey (ground magnetics and Induced Polarisation), prior to initiating a drilling program to evaluate the identified copper and molybdenum anomalies.