Camino begins drilling at Peru’s Los Chapitos copper mine
Camino Corp, the Canadian mining firm, announces that drilling has begun on its Los Chapitos copper project, which is located in Southern Peru’s Arequipa Department.
In a statement, Camino explains that Diamond Drillhole DCH-055, collared on October 2, 2020, is the first drill hole of a planned 3,000-metre program that adds to the 19,161-metres already drilled on the project in 2017 and 2018. The hole is designed to test near surface oxide mineralisation on the Carlotta target (and deep high-grade sulphide mineralisation on the Diva Fault).
"Our first drill hole at the Carlotta outcrop, is located 400m south of the discovery made at the Adriana outcrop in 2017. The two outcrops look similar and show oxidised copper hosted in Chocolate Formation volcanics," said Jay Chmelauskas, President & CEO of Camino. "We will also be testing a potential new discovery at Diva West, an area of undrilled copper mineralisation, hosted in the same Chocolate Formation and located several hundreds of metres to the west of the main mineralised Diva Structure. We are working towards expanding mineralisation to define a maiden resource on and along the Diva structure, and at the same time begin to determine the potential size of the Los Chapitos IOCG system."
"At Chapitos we have been actively incorporating new geochemical and mapping information into our models to improve our understanding of the geology," said Owen Miller, the Company's Exploration Manager in Peru. "The current drill campaign reflects this work and new target areas have been highlighted at Diva West that may redefine our geological interpretation for the whole Los Chapitos Project,” he added, pointing out that the core is being logged and sampled at the company's facilities in the town of Chala 15 km from the project.
Samples are sent to Lima to be analysed by ALS Chemex with the first results expected the last week of October.
Vale invests $150mn to extend life of Manitoba operations
Vale has announced a $150mn CAD investment to extend current mining activities in Thompson, Manitoba by 10 years while aggressive exploration drilling of known orebodies holds the promise of mining well past 2040.
Global energy transition is boosting the market for nickel
The Thompson Mine Expansion is a two-phase project. The announcement represents Phase 1 and includes critical infrastructure such as new ventilation raises and fans, increased backfill capacity and additional power distribution. The changes are forecast to improve current production by 30%.
“This is the largest single investment we have made in our Thompson operations in the past two decades,” said Mark Travers, Executive Vice-President for Base Metals with Vale. “It is significant news for our employees, for the Thompson community and for the Province of Manitoba.
“The global movement to electric vehicles, renewable energies and carbon reduction has shone a welcome spotlight on nickel – positioning the metal we mine as a key contributor to a greener future and boosting world demand. We are proud that Thompson can be part of that future and part of the low carbon solution.”
Vale continues drilling program at Manitoba
Coupled with today’s announcement, Vale is continuing an extensive drilling program to further define known orebodies and search for new mineralization.
“This $150mn investment is just one part of our ambitious Thompson turnaround story. It is an indicator of our confidence in a long future for the Thompson operations,” added Dino Otranto, Chief Operating Officer for Vale’s North Atlantic Base Metals operations.
“Active collaboration between our design team, technical services, USW Local 6166, and our entire Thompson workforce has delivered a safe, efficient and fit-for-purpose plan that will enable us to extract the Thompson nickel resources for many years to come.”
The Thompson orebody was first discovered in 1956 by Vale (then known as Inco) following the adoption of new exploration technology and the largest exploration program to-date in the company’s history. Mining of the Thompson orebody began in 1961.
“We see the lighting of a path forward to a sustainable and prosperous future for Vale Base Metals in Manitoba,” said Gary Annett, General Manager of Vale’s Manitoba Operations.