Mandrake Resources Ltd (ASX:MAN) has entered into an agreement to acquire a 100% interest in the Delfin high-grade Copper Project comprising a 84 sq. km land package in the prolific copper-producing Antofagasta region of Chile.
Historical drilling highlights the prospectivity with spectacular drilling intercepts of high-grade copper mineralisation.
Managing Director, James Allchurch, said Mandrake intends to undertake an active exploration programme commencing early Q2 2022 which will include the re-interpretation of existing geophysical data, assessment of recently submitted rock chip samples (assays pending) and drilling.
“Mandrake is excited to have secured the Delfin Project, which provides the company with an advanced high-grade copper project in a first-class mining jurisdiction,” Mr Allchurch said.
“Historic exploration has identified several different zones of spectacular high-grade copper mineralisation including 86m at 4.83% Cu from 121m in DD-04. We see a clear opportunity to apply modern exploration and interpretation techniques to understand these zones and look to grow them ahead of a maiden JORC resource.
“Delfin boasts a historical database underpinned by over 15,000m of diamond and RC drilling that has immense potential for expansion given the broad spacing of high- grade intercepts and the fact that only 20% of drilling exceeded 140m depth.
“This transformational acquisition of an advanced high-grade copper project gives the Company exposure to a metal with a robust supply demand thematic, driven by the global transition to a green economy.
“Moving forward, Mandrake’s corporate and strategic focus will be on the Delfin Project where we will have boots on the ground in the coming weeks, together with follow up exploration at the Jimperding PGE-Ni-Cu Project.”
For further information please visit: https://www.mandrakeresources.com.au/
