Camino and Japanese Miner Nittetsu Mining Sign Agreement for Interest in the Los Chapitos Copper Project in Peru - Seite 2

"Our partnership objective with Camino is to advance the Los Chapitos copper project towards a pre-feasibility study over our initial investment period," said Shinichiro Mita, General Manager of Nittetsu. "We see strong geological and development potential at Los Chapitos and a dedicated group at Camino that is committed to develop a copper business with us."

Exploration is expected to commence immediately in June to complete the plan for the first six-month instalment period. The initial exploration program is planned to consist of mapping, geophysics, and road access to identify and prepare high-priority drilling targets. In addition, the Company is anticipating the receipt of an expanded EIA permit that will open more than 6,012 hectares for exploration drilling (see press release February 8, 2023).

The Los Chapitos Project is located in the IOCG belt of the Coastal Cordillera of northern Chile and southern Peru. The Mina Justa IOCG copper mine is located approximately 100 km north of Los Chapitos in southern Peru and is notably one of the world's newest large scale copper producers behind Quellaveco (Peru) and Kamoa-Kakula (DRC). Other major deposits in this IOCG belt include Mantoverde (Chile) and Candelaria (Chile) and there are dozens of other smaller scale copper deposits (see Figure 1).

Foto: Accesswire

Figure 1. Copper rich IOCG deposits extending through southern Peru and northern Chile.

About Nittetsu Mining Co., Ltd.

Nittetsu is a Japanese corporation listed on the Tokyo Stock Exchange with 84-year history as a mining and trading company. Nittetsu is the operator of the Atacama Kozan mine located in the prolific Candelaria-Punta del Cobre copper district which is known to host IOCG type ore deposits. In addition, Nittetsu has made a decision to start construction of its 80% owned Arqueros copper mine in Chile. Nittetsu has expertise in processing, distributing, importing, and exporting copper and other mineral products. Other businesses include: purchasing and distributing coal and petroleum products; developing and distributing equipment, machinery and environment-related products; real estate; power generation using renewable energy; the supply and sale of electricity; and mining and distributing industrial minerals including limestone.