UK-based copper miner Antofagasta is advancing a new exploration phase at its Cachorro project in northern Chile.
The company has submitted an environmental impact statement (DIA) for the project, which sits between Antofagasta’s Centinela and Antucoya operations, allowing potential synergies with existing infrastructure and processing facilities.
Pending approval of the DIA by Chilean regulators, Antofagasta plans to invest $220-million over seven years to drill more than 700 holes and construct a horizontal tunnel for underground exploration down to 300 m.
The next exploration phase includes infill drilling to improve geological modelling and resource categorisation. Baseline environmental monitoring, biodiversity protection, groundwater assessments, and archaeological surveys are part of the permitting process, as well as commitments to create local jobs and support regional suppliers.
Discovered in 2017, Cachorro hosts a mineral resource of 255-million tonnes at 1.26% copper, along with silver at 4 g/t. The grade and scale position it as one of the most important manto-type deposits in Chile’s coastal belt, says Antofagasta. 