Alta Copper Achieves Significant Milestones with Drill Permit Approval and Receipt of CIRAS
Alta Copper Corp. (TSX:ATCU)(OTCQX:ATCUF)(BVL:ATCU) has announced two significant milestones:
- Approval of its Declaración de Impacto Ambiental (DIA) drill permit application by Peru's Ministry of Energy and Mines (MINEM)
- Receipt of Certificates of Non-Existence of Archaeological Remains on Surface (CIRAS) from Peru's Ministry of Culture
The DIA approval allows for drilling up to 42,400 meters in phases of 10,000 meters, targeted to commence before Q2-2025. The CIRAS certificates cover all known copper resources for the Cañariaco project. These achievements will enable Alta Copper to advance towards a new community agreement and social license to operate.
The company has completed a new geological model for the Cañariaco Norte deposit, identifying significant mineralization potential and high-priority drill targets. The proposed drilling program aims to expand resources and enhance project economics.
Alta Copper Corp. (TSX:ATCU)(OTCQX:ATCUF)(BVL:ATCU) ha annunciato due traguardi significativi:
- Approvazione della sua richiesta di permesso di perforazione nella Declaración de Impacto Ambiental (DIA) da parte del Ministero dell'Energia e Miniere del Perù (MINEM)
- Ricezione dei Certificati di Non Esistenza di Resti Archeologici in Superficie (CIRAS) dal Ministero della Cultura del Perù
L'approvazione della DIA consente di effettuare perforazioni fino a 42.400 metri in fasi di 10.000 metri, con inizio previsto prima del secondo trimestre del 2025. I certificati CIRAS coprono tutte le risorse di rame conosciute per il progetto Cañariaco. Questi risultati permetteranno ad Alta Copper di avanzare verso un nuovo accordo con la comunità e ottenere la licenza sociale per operare.
La società ha completato un nuovo modello geologico per il deposito di Cañariaco Norte, identificando un significativo potenziale di mineralizzazione e bersagli di perforazione ad alta priorità. Il programma di perforazione proposto mira ad espandere le risorse e migliorare l'economia del progetto.
Alta Copper Corp. (TSX:ATCU)(OTCQX:ATCUF)(BVL:ATCU) ha anunciado dos hitos significativos:
- Aprobación de su solicitud de permiso de perforación en la Declaración de Impacto Ambiental (DIA) por parte del Ministerio de Energía y Minas del Perú (MINEM)
- Recepción de Certificados de No Existencia de Restos Arqueológicos en Superficie (CIRAS) del Ministerio de Cultura del Perú
La aprobación de la DIA permite perforaciones de hasta 42,400 metros en fases de 10,000 metros, con un inicio programado antes del segundo trimestre de 2025. Los certificados CIRAS cubren todos los recursos de cobre conocidos para el proyecto Cañariaco. Estos logros permitirán a Alta Copper avanzar hacia un nuevo acuerdo comunitario y obtener la licencia social para operar.
La empresa ha completado un nuevo modelo geológico para el depósito de Cañariaco Norte, identificando un potencial significativo de mineralización y objetivos de perforación de alta prioridad. El programa de perforación propuesto tiene como objetivo expandir recursos y mejorar la economía del proyecto.
Alta Copper Corp. (TSX:ATCU)(OTCQX:ATCUF)(BVL:ATCU)는 두 가지 중요한 이정표를 발표했습니다:
- 페루 에너지 및 광업부(MINEM)에서 환경 영향 선언서(DIA) 채굴 허가 신청을 승인함
- 페루 문화부에서 표면에 고고학적 유물이 존재하지 않음을 증명하는 인증서(CIRAS)를 수령함
DIA 승인은 42,400미터까지의 굴착을 10,000미터 단계로 수행할 수 있으며, 2025년 2분기 이전에 시작될 예정입니다. CIRAS 인증서는 Cañariaco 프로젝트에 대한 모든 알려진 구리 자원을 포함합니다. 이러한 성과는 Alta Copper가 새로운 지역 사회 협약과 운영을 위한 사회적 라이센스를 취득하는 데 기여할 것입니다.
회사는 Cañariaco Norte 광상에 대한 새로운 지질 모델을 완성하였으며, 중요한 광물화 가능성과 높은 우선 순위의 굴착 목표를 확인했습니다. 제안된 굴착 프로그램은 자원을 확장하고 프로젝트의 경제성을 향상시키는 것을 목표로 합니다.
Alta Copper Corp. (TSX:ATCU)(OTCQX:ATCUF)(BVL:ATCU) a annoncé deux jalons importants :
- Approbation de sa demande de permis de forage dans le cadre de la Declaración de Impacto Ambiental (DIA) par le ministère de l'Énergie et des Mines du Pérou (MINEM)
- Réception des Certificats de Non-Existence de Restes Archéologiques en Surface (CIRAS) du ministère de la Culture du Pérou
L'approbation de la DIA permet de réaliser des forages jusqu'à 42 400 mètres par phases de 10 000 mètres, visant à commencer avant le deuxième trimestre de 2025. Les certificats CIRAS couvrent toutes les ressources en cuivre connues pour le projet Cañariaco. Ces réalisations permettront à Alta Copper d'avancer vers un nouvel accord communautaire et d'obtenir la licence sociale pour opérer.
La société a complété un nouveau modèle géologique pour le dépôt de Cañariaco Norte, identifiant un potentiel de minéralisation significatif et des cibles de forage prioritaires. Le programme de forage proposé vise à élargir les ressources et à améliorer l'économie du projet.
Alta Copper Corp. (TSX:ATCU)(OTCQX:ATCUF)(BVL:ATCU) hat zwei bedeutende Meilensteine bekannt gegeben:
- Genehmigung des Antrags auf Bohrgenehmigung für die Umweltverträglichkeitsprüfung (DIA) durch das Ministerium für Energie und Bergbau Perus (MINEM)
- Erhalt von Zertifikaten über das Nichtvorhandensein archäologischer Überreste an der Oberfläche (CIRAS) vom Kulturministerium Perus
Die Genehmigung der DIA ermöglicht Bohrungen von bis zu 42.400 Metern in Phasen von 10.000 Metern, die voraussichtlich vor dem 2. Quartal 2025 beginnen. Die CIRAS-Zertifikate decken alle bekannten Kupferressourcen des Projekts Cañariaco ab. Diese Erfolge ermöglichen es Alta Copper, auf eine neue Vereinbarung mit der Gemeinde und eine soziale Betriebserlaubnis hinzuarbeiten.
Das Unternehmen hat ein neues geologisches Modell für das Vorkommen Cañariaco Norte erstellt, das erhebliches Mineralisierungspotenzial und hochpriorisierte Bohrziele identifiziert. Das vorgeschlagene Bohrprogramm soll die Ressourcen erweitern und die Wirtschaftlichkeit des Projekts verbessern.
- Approval of DIA drill permit application, allowing for up to 42,400 meters of drilling
- Receipt of CIRAS certificates for all known copper resources in the Cañariaco project
- New geological model identified significant mineralization potential and high-priority drill targets
- 32 of 47 drill holes drilled to 400 metres or more bottomed in mineralization, indicating potential for resource expansion
- Drilling program not expected to commence until Q2-2025
- New community agreement and social license to operate still needed before receiving Authorization to Start Exploration Activities
VANCOUVER, BC / ACCESSWIRE / October 10, 2024 / Alta Copper Corp. (TSX:ATCU)(OTCQX:ATCUF)(BVL:ATCU) ("Alta Copper" or the "Company") is extremely pleased to announce that its Declaración de Impacto Ambiental ("DIA") drill permit application has been approved by the Ministry of Energy and Mines of Peru ("MINEM") while also receiving Certificates of Non-Existence of Archaeological Remains on Surface ("CIRAS") from the Ministry of Culture of Peru.
Drill Permit | CIRAS
The Company submitted its DIA to MINEM in December 2023 which included advanced Environmental and Social Impact Assessment studies ("ESIA"). As previously reported the DIA process included a successful community participation workshop held in late October 2023 during which the Executive Management of Energy and Mines for the Regional Government of Lambayeque explained the scope of the environmental studies and the DIA application to the community of Cañaris. The DIA determines the environmental viability to drill 42,400 meters to be completed in phases of 10,000 meters which is targeted to commence prior to Q2-2025.
As required pursuant to the National Environmental Impact Assessment System Law approved by Law Nº 27446, its regulation and the Environmental Protection Regulations for Mining Exploration Activities approved by Supreme Decree N° 042-2017-EM, Alta Copper was required to file an ESIA and obtain an Environmental Management Instrument. The Environmental Management Instrument to conduct mining exploration activities was required in view of the advanced stage of development of the Cañariaco project.
Alta Copper is pleased with the support provided by MINEM. Several in person working sessions and meetings have been held over the course of the last several months that allowed the Company to address all comments received from the General Directorate of Mining Environmental Affairs ("DGAAM") of MINEM, the National Forestry and Wildlife Service ("SERFOR") and the National Water Authority ("ANA"). The Company successfully addressed all observations and comments which resulted in the approval of the DIA.
In addition, several individual CIRAS have now been received from the Ministry of Culture for the Cañariaco Sur and Quebrada Verde areas, such that together with the previous CIRAS certificate granted for the Cañariaco Norte area, all known copper resources for the Cañariaco project have now been determined not to affect any possible archeological remains.
Approval of the DIA and receipt of CIRAS are significant milestones which will now allow the Company to continue advancing towards a new community agreement and social license to operate, so it can receive its Authorization to Start Exploration Activities from MINEM.
Giulio T. Bonifacio, Executive Chair and CEO, commented: "We are very pleased to have achieved two significant milestones with the approval of our DIA and receipt of CIRAS. We consider the level of support we have received from both MINEM and our local community as a clear reflection of positive developments taking place in Peru. We look forward to the commencement of our drilling program as recent results from our 3D geological modelling have allowed us to gain a much better understanding of Cañariaco mineral resources. Results to date have clearly demonstrated considerable upside through resource expansion drilling which will further enhance already robust economics as recently published in our Preliminary Economic Assessment."
Proposed Drilling Program
In anticipation of the Company's drilling program Alta Copper completed a new geological model for the Cañariaco Norte deposit in 2024 while identifying significant mineralization potential and numerous high priority drill targets which will provide the foundation for future drilling programs. The DIA will allow for up to 42,400 metres of drilling to be completed in phases of 10,000 meters. Figure 1 below highlights both historic drilling and proposed drilling:
The proposed drill holes have been targeted to cross and fill in the recently identified zones of high-grade copper mineralization extending to depth in Cañariaco Norte which are not included in the current mineral resource estimate due to drill spacing between the holes and limitations of drill data at depth (See Figures 2 to 3).
The remaining drill platforms will be used to drill the Cañariaco Sur and Quebrada Verde porphyries, targeting extensions of known mineralization laterally and at depth and near surface geochemical anomalies and mineralization exposed in creek beds.
Geological Modelling completed in 2024 included the re-interpretation of district-scale and project-specific geology including statistical analyses on alteration effects to various lithologies. The 2024 geological modelling identified several high-grade copper zones with previously untested potential depth extensions. These zones as well as internal zones, where infill drilling could expand some high-grade zones, will be drill tested with the goal of further enhancing the current substantial mineral resource already defined at Cañariaco.
The 2024 geological model for alteration and lithologies relies on detailed logging of 85,000 metres drilled between 2004 and 2013, largely in Cañariaco Norte. Information which was captured in historic logs has been recently reviewed. Multi-element geochemical data available for most of the holes was used to establish lithological and alteration zonation modelling. The data collected has not previously been incorporated into a formal three-dimensional geological model.
It is expected that future drilling of our defined high priority targets is expected to improve project economics recently reported in the Company's Preliminary Economic Assessment completed in May 2024. Further drilling and resource expansions will be considered as the project continues along the development and permitting path.
A review of deeper zones of the Norte deposit recently identified that 32 of 47 drill holes drilled to 400 metres or more bottomed in mineralization. DDH 07-135 bottomed in 0.55 per cent Cu (over last 10 metres) at 721 metres. Of the 32 holes drilled to depths between 400 and 770 metres, 27 drill holes intersected grades from 0.31 to 0.74 per cent Cu. (See Figures 4 to 5).
Community Relations
Alta Copper continues to advance its involvement with the community in a manner to benefit all stakeholders while strengthening its positive relations with the residents of the communities in the Cañariaco Project's area of influence.
Our communication efforts regarding mining, its successive phases, the difference between responsible exploration and exploitation, the Project's potential environmental and social impacts, and the benefits that it is bringing and will continue to bring to the community and all stakeholders.
As previously reported, Alta Copper has field personnel working with locals and consultants who are continuing to prepare for the upcoming drill program. Alta Copper's community team has been conducting maintenance work on our field camp as well as other related activities which has allowed for increased community engagement.
In view of the community offices that have opened since 2023 Alta Copper's community team has had many more opportunities to connect with the local community. The dialogues and the exchange of information with the local community are frequent and continuous which was not the case during the period 2016 to 2022. Both the engagement allowed by the offices and that through the increased field presence on the project indicates a greater interest and adhesion in the community to advance more quickly and a clear reflection of positive developments taking place in Peru for advanced staged development projects such as the Cañariaco copper project.
Qualified Person
The scientific and technical information contained in this news release has been reviewed and approved by Joanne Freeze, P.Geo., who is the Qualified Person as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101").
About Alta Copper
Alta Copper is focused on the development of its
Cautionary Note Regarding Forward Looking Statements
This press release contains forward-looking information within the meaning of Canadian securities laws ("forward-looking statements"). Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, plans, postulate and similar expressions, or are those, which, by their nature, refer to future events. All statements that are not statements of historical fact are forward-looking statements, including, but not limited to, statements with respect to the timeline, resources expansions and impact on PEA economics. These forward-looking statements are made as of the date of this press release. Although the Company believes the forward-looking statements in this press release are reasonable, it can give no assurance that the expectations and assumptions in such statements will prove to be correct. The Company cautions investors that any forward-looking statements by the Company are not guarantees of future results or performance, and are subject to risks, uncertainties, assumptions and other factors which could cause events or outcomes to differ materially from those expressed or implied by such forward-looking statements. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. We are under no obligation to update or alter any forward-looking statements except as required under applicable securities laws.
On behalf of the Board of Alta Copper Corp.
"Giulio T. Bonifacio" Executive Chair & CEO
For further information please contact:
Giulio T. Bonifacio
gtbonifacio@altacopper.com
+1 604 318 6760
Email: info@altacopper.com
Website: www.altacopper.com
Twitter: https://twitter.com/Alta_Copper
LinkedIn: https://www.linkedin.com/company/altacopper/
Facebook: https://www.facebook.com/AltaCopperCorp
Instagram: https://www.instagram.com/altacopper/
YouTube: https://www.youtube.com/@AltaCopper
SOURCE: Alta Copper Corp.
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FAQ
What recent milestones has Alta Copper (ATCUF) achieved for its Cañariaco project?
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What did Alta Copper's (ATCUF) new geological model for Cañariaco Norte reveal?
