Mr. Isaac Maresky reports
GOLD HART COPPER ACQUIRES MANTOCOBRE GOLD-COPPER IOCG ASSET
Gold Hart Copper Corp. has acquired the Mantocobre copper-gold IOCG (iron-oxide-copper-gold) asset. This adds another highly prospective asset to Gold Hart Copper's portfolio of prime properties in Chile.
Gold Hart Copper -- Mantocobre asset highlights
- Large asset (4,000 hectares/40 square kilometres) strategically located south of Capstone's Mantoverde;
- Property sits directly within two parallel mineral belts, Chile's IOCG belt and the Atacama fault system, home to world-class copper and gold assets;
- Numerous zones of visible copper minerals such as chrysocolla and malachite across the property;
- Several historically mined areas for gold and copper including one 145-metre-long vein, indicating near-surface mineralization;
- Excellent candidate for expedited exploration and development given the visible near-surface mineralization combined with the property's accessibility (paved highway directly to site).
Gold Hart chief executive officer Isaac Maresky commented: "Another excellent asset added to the Gold Hart Copper portfolio, with numerous areas of visible mineralization on surface, several historic high-grade gold and copper mining pits, genuine potential for expedited development, owned 100-per-cent outright with no royalties, with all value accruing to HART shareholders."
Gold Hart vice-president Rodrigo Diaz added: "Mantocobre shows clear evidence of mineralization, hosting numerous copper-gold veins, some of which were historically exploited by artisanal miners, including one up to 145 m long. The asset is strategically located in a highly prospective area, approximately 20 km south of Capstone Copper's Mantoverde mine and 60 km north of Copiapo. The property lies within Chile's coastal IOCG belt, and along the Atacama fault system, which hosts numerous world-class mineral deposits and operating mines. Significant portions of the property are under sediment cover, potentially concealing mineralization that has not been tested by conventional surface exploration and explaining the relatively limited exploration. Most interestingly, in almost every area where the cover is protruded, we are seeing alteration and/or copper minerals of interest."
The company already has geologists and geophysicists on site conducting preliminary geochemical and geophysical surveys, and hopes to be in a position to report on results in the very near future. Although it has had prior owners, Mantocobre was acquired by Gold Hart directly from the government, with little cost to the company.
Gold Hart Copper has updated information about its growing portfolio of prime properties in Chile. All properties are controlled 100 per cent with no royalties whatsoever.
Gold Hart Copper continues to advance gold-copper-silver application (Pedimento) for Copioso asset -- historic mine -- to expand its portfolio of properties in Chile
Per the company's prior announcement, Gold Hart reported that the company filed an application for a gold-copper-silver exploration mining concession referred to as the Copioso asset, to expand its portfolio of prime properties in Chile. The company reported that it has continued to make progress and has received additional positive confirmations from the Chilean courts, although the process is still not completely finalized. The company still hopes to be in a position to provide an update in the very near future. Copioso was a historic mine for gold, copper and silver, and the company has already begun planning various scenarios for exploration and development should the acquisition be completed successfully.
Corporate update and options update
Per the company's prior announcement, Gold Hart has added certain key advisers. Given the company's desire to retain and incentivize exceptional talent while simultaneously minimizing cash salaries, the company believes stock options to be an integral mechanism for incentivizing and aligning key executives, directors, and advisers. To that end, and per the company's stock option plan (rolling 10 per cent), the company is issuing 14.5 million options exercisable at 20 cents for five years, subject to requisite approvals, bringing total ESOP outstanding to 7.5 per cent of shares with 2.5 per cent remaining available for future issuance(s).
About Gold Hart Copper Corp.
Gold Hart Copper is one of the largest independent land owners surrounding major miners where the famous Maricunga gold belt meets the emerging Vicuna copper belt in Chile. Gold Hart is actively acquiring, exploring, and developing its portfolio of gold, copper and silver properties adjacent to the largest gold and copper assets on the continent.
Gold Hart has rolled up a portfolio of historically significant assets surrounding majors, in some cases personally staked by the very same geologists who made the adjacent mega discoveries, since the early 1990s. Some of the Gold Hart properties have already undergone a first phase of drilling, with highly encouraging results of gold, copper, silver and molybdenum. Gold Hart properties are controlled 100 per cent and not subject to any royalties whatsoever.
Gold Hart believes it may be sitting on one of the only fully preserved untested large-scale gold-copper-silver porphyry targets in the Vicuna district -- an asset that was first recognized for its uniquely high grades of gold and copper on surface -- and staked by one of the Maricunga-Vicuna district's pioneering geologists in 1993. Gold Hart Copper is fully funded for its planned drill campaign.
Gold Hart's team of geologists were personally involved in pioneering exploration in the region, leading to some of its greatest gold, copper and silver deposits, and include the country's former geological survey national deputy manager Dr. Prof. Jose Frutos. Specifically, senior Gold Hart geologists were personally involved in the Escondida copper discovery, now the largest copper mine in the world controlled by Rio Tinto and BHP, as well as Norte Abierto/Cerro Casale, the largest gold-copper discovery in Chile acquired by Barrick and Newmont (GoldCorp) with reserves and resources of 50.6 million ounces of gold (0.53 g/t), 13.4 billion pounds of copper (0.20 per cent) and 218 million ounces of silver (2.3 g/t).
In addition to its large land position in the Vicuna district, Gold Hart recently acquired the Nessa properties just northwest on Chile's Paleocene-Eocene belt on the famous Domeyko fault system, which is home to some of Chile's largest gold, copper and silver assets including Escondida, Chuquicamata and Collahuasi. The Nessa properties host several historic gold and copper artisanal mines with high grades of gold, copper and silver on surface, with a large alteration and magnetic anomaly extending approximately six kilometers. Kinross's La Coipa gold mine sits just east of Nessa. Gold Hart Copper also controls the Mantocobre copper-gold IOCG property, which sits just south of Capstone's Mantoverde copper mine, with numerous areas of historic mining pits and mineralization on surface.
Qualified person
The technical information contained in this news release related has been reviewed and approved by Jonathan A. Warner, executive vice-president of Gold Hart Copper and a qualified person within the meaning of National Instrument 43-101.
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