https://www.engineeringnews.co.za

Aethon to acquire base metals project in Chile

17th May 2018

By: Creamer Media Reporter

     

Font size: - +

JOHANNESBURG (miningweekly.com) – TSX-V-listed Aethon Minerals has entered into an option agreement with private Chilean company Sociedad Legal Minera La Florida De Canela to acquire a 100% interest in the Llanos De Llahuin project, in Chile.

The project is considered to have potential for a substantial copper/gold/molybdenum porphyry body, together with associated higher-grade breccia and shear zone bodies.

Under the terms of the option agreement, Aethon will be required to pay Sociedad Legal Minera La Florida De Canela $100 000 within ten days. It will make further payments, in stages up to 48 months after the agreement is signed, totalling $6.2-million.

Further, Sociedad Legal Minera La Florida De Canela will retain a 2% net smelter return royalty, but Aethon has the exclusive option to acquire the royalty at any time for $4.5-million.

Aethon’s first phase exploration programme on the Llanos De Llahuin project will include detailed geological mapping, chip and channel sampling, ground magnetics and induced polarisation surveys. 

The programme will help define drill targets for an initial 1 000 m of diamond drilling which is expected to be conducted within the first six-month period. 

Edited by Chanel de Bruyn
Creamer Media Online Managing Editor

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

Astore Keymak
Astore Keymak

Astore Keymak is one of South Africa’s leading suppliers of high-quality Thermoplastic Pipeline Systems, with branches in the major provinces.

VISIT SHOWROOM 
ACTOM
ACTOM

Your one-stop global energy-solution partner

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







301

sq:0.047 1.066s - 140pq - 2rq
Subscribe Now