Medinah Minerals (MDMN)

[Hookmeistr]

For those who don't believe this region is worth very much:

Geology

Chile owes its mineral riches to its location over a subduction zone. Chile is part of the “Pacific Ring of Fire” a zone where the pacific plate dives below various continental plates. The less dense oceanic plate slips at a gradual angle below the continental plate, creating a zone of high-friction, high-temperatures and high-pressures. This is a dangerous zone, prone to volcanoes and earthquakes. In fact, 90 percent of the earth's earthquakes happen along the "Ring of Fire."

Being located in such a seismically active zone is not only dangerous, it is also financially rewarding. The tectonic stresses have granted Chile with unprecedented mineral riches. Where there are subduction zones, there are porphyry deposits- the most valuable copper deposits in the world. These deposits may be low-grade, but they are impressive in size and accompanied with valuable secondary minerals, such as gold, copper, silver and molybdenum.

Porphyry deposits are formed in zones of hydrothermal alteration, and subduction zones create the prime environment. As the Pacific Plate plunges below Chile, it is heated, melted and chemically differentiated. Masses of magma push up through the crust wherever they can. This magma comes into contact with water along its path and heats it. The water, carrying minerals which have been partly supplied by the intruding magma, moves closer to the earth's surface, cooling and depositing minerals. Simply put, this is how porphyry deposits form. The subduction zone in Chile has forged the geology, and geography of the region. The Andes, the Intermediate Depression, and the Coast Range have all been formed as a direct result of the subduction zone.

(Source: http://www.ibtimes.com/articles/109376/20110207/copper-mining-in-chile-part-i.htm) - thanks to Jai Ho.