RLKX.OB is Currently Exploring Three Sites within the III Region of Chile
This Mining exploration company has set its sights on Chile’s III Region, which is well known for gold and copper mining. They are exploring three old mining sites within this region for the viability of mineral extraction. Preliminary results have proven quite promising.
The company’s three projects include Camilla, Santa Rosa, and Farellon. Camilla is in the early stages of exploration, and Santa Rosa and Farellon are in the advance stages of exploration. All three lie within the IOCG belt of copper and gold. With the advances of mining technology, new deposits continue to be found within the belt that were not previously extractable.
In advanced stages of exploration, the Farellon site was not available until 2006. The area was mined until 1891, but was shut down due to flooding problems. It did not see action again until 1997, when the Pan American resources group investigated and found 400,000 tons of 1.78% CU in the dumps and 750,000 tons of 6%CU in the tailings. However, they never extracted any due to the low copper prices at that time. Since then, Red Lake has taken over the property and found other deposits of up to 6.7% copper. They are continuing to explore the property and are now in the process of establishing a base camp as well as new roads.
The company’s other site in advance stages of exploration, Santa Rosa, is 110 hectacres of mining area with copper and gold deposits. Copper structures have already been confirmed with the current explorations. Gold has also been identified and made drill-target ready. Exploration results show this site has a possible giant ICOG system of gold and copper deposits.
Camilla, in the early stages of exploration, is already showing promise of a multimillion-ton deposit near the surface. It has two known mineralized structures with drill targets of copper and gold. The company is continuing to drill and explore the property for mining prospects.
All of these sites are showing lots of promise for the exploration company. With commodity markets hot, the timing is perfect, making many mining operations that were not profitable in the past quite advantageous now.
