Red Metal Resources Ltd. (RMESF)

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Chile’s Booming Copper Production Entices Red Lake Exploration Inc. (RLKX.OB)

Chile’s copper mines provide more than 40 percent of the world’s copper output, according to the U.S. Department of the Interior. Chile’s mining industry employs about 6 percent of the country’s workforce, and as more mines come into operation, the demand for output is expected to rise.

Red Lake Exploration Inc. (OTCBB: RLKX) engages in the acquisition, exploration and development of mineral properties in Chile. Headquartered in Richmond, Canada, the company focuses on its primary project, the Farellon property, in the Candalaria Iro Oxide Copper Gold Belt.

Red Lake is reviewing options to purchase Santa Rosa and Camila Mineral Properties, both of which have identified drill targets and development stage drilling plans. The properties are located in III Region, Chile. According to geological interpretations, the properties are expected to hold significant copper and gold resources.

Last month the company released information regarding its exploration program in the Camila Breccia. The program consists of six drill holes totaling 1,000 meters of diamond drilling on two previously mineralized structures.

Chile’s copper production has contributed to the country’s status as one of the world’s fastest growing economies, accounting for 8.5 percent of the country’s GDP and 47 percent of its exports. Red Lake has positioned itself to take part in the growing industry with its exploration programs.