Minsud Resources (MSR.V) has released the maiden pit-constrained resource estimate for the Chinchillones Complex deposit which is part of the Chita Valley project in Argentina’s San Juan province. As a reminder, the project is advanced as a joint venture with South32 (S32.AX) which owns 50.1% of the asset. Minsud owns 49.9% and has managed the exploration activities. The maiden resource is based on the assay results from 134 holes for a total of just over 82,100 meters of drilling.
The maiden resource contains 188 million tonnes in the indicated resource category at an average grade of 0.41% copper-equivalent (including 0.25% copper) with an additional 573 million tonnes in the inferred resource category at an average grade of 0.36% CuEq including 0.22% copper. The combined copper-equivalent resource stands at in excess of 6 billion pounds, of which almost 4 billion pounds are actual copper. It’s also good to see 2.3 million ounces of gold across both categories as well as almost 230 million ounces of silver, of which 63.5 million ounces are part of the indicated resource category with the remaining 165.6 million ounces belonging to the inferred resource category.
The total resource is still pretty low-grade but seeing in excess of 750 million tonnes of rock in a maiden resource estimate is a good start.
Disclosure: The author has no position in Minsud Resources. Please read the disclaimer.
