Flagship acquires Anglo American's Pantanillo exploration data
ASX-listed Flagship Minerals has struck a binding agreement with Anglo American Norte to acquire a large historical exploration dataset for its Pantanillo gold project in Chile.
The move, Flagship says, could fast-track resource conversion and project development at a fraction of the replacement cost.
The dataset includes nearly 33 000 m of drilling from 148 holes, including 13 949 m of diamond core, as well as more than 2 100 geochemical samples and ground magnetic survey data. The materials, which Flagship estimates would cost up to A$31-million and four to five years to replicate, are being transferred from Anglo’s storage facilities in Copiapó.
“This is an exceptional milestone,” MD Paul Lock said. “The Anglo dataset gives us access to all historical drilling at Pantanillo – almost 33 000 m across 148 holes – of which over 12 000 m was previously unavailable and therefore not included in the current foreign estimate of 1.05-million ounces of gold.”
Lock added that the newly acquired data, including diamond core available for re-sampling, will allow the company to accelerate a Joint Ore Reserve Committee-compliant mineral resource estimate and “potentially grow the existing gold inventory significantly – without drilling".
Flagship said the transaction required an initial $100 000 payment, followed by staged installments of $750 000 over two years, and a final $1-million only if it exercises its option to acquire Pantanillo before April 2030.
Comments
Projects
Latest News
Showroom
As one of South Africa's leading manufacturers, Bell Equipment distributes and exports its wide range of heavy equipment globally to mining,...
VISIT SHOWROOM
Advancing leadership in technology, innovation, and project management excellence
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
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?
Receive 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)
➕
Recieve 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
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
