Arrieros is an extensive 14,000 hectare property located in the heart of the Domeyko Corridor or West Fissure Belt of northern Chile, which hosts some of the world’s largest copper mines and districts. Arrieros is an early-stage exploration property consisting of a broad, post-mineral gravel-filled pampa flanked to the west and north by uplifted blocks of Paleozoic and lesser Mesozoic rocks. These are the same stratigraphic and structural relationships observed at other porphyry copper centers in the Domeyko Corridor, supporting the prospectivity of the area.
A detailed ground magnetic survey at Arrieros identified a series of anomalies whose characteristics are consistent with mid-Tertiary batholiths and resemble anomalies found at principal porphyry copper centers located along the Domeyko Corridor. The next steps for exploration at Arrieros include an induced polarization (IP) geophysical survey to evaluate whether sulfide mineralization accompanies the magnetic anomalies, followed by drill testing of the best targets.
The Arrieros Project abuts the Montezuma Project optioned to the BMR Group. The Montezuma Project shows hydrothermal alteration typical of porphyry copper deposits, porphyritic intrusions of post-Mesozoic age, historical artisanal mining workings, and surface exposures of chalcopyrite and chalcocite that have since been oxidized and leached, as is typical in this part of northern Chile. Exploration targets at Montezuma lie along the same structural networks that control mineralization in the Chuquicamata and Centinela mining districts. These structural splays extend into the Arrieros land package.
Operator Pampa Metals Corp. (TSX-V: PM, “Pampa Metals”) has an option to buy back a 0.5% NSR for a total purchase price of US$10 million at any time. EMX acquired the royalty asset from Revelo Resources in 2020 (see EMX Press Release dated March 26, 2020).
Note: The nearby mines and deposits mentioned above provide context for EMX’s Project, which occurs in a similar geologic setting, but this is not necessarily indicative that the project hosts similar tonnages or grades of mineralization