PERU – Toronto-based CHARIOT RESOURCES reports long, high-grade copper sulphide intercepts from its Marcona copper project near an iron mine of the same name south of Lima. Five of the intersections are over 50 metres long at grades of 1.28-3.37% Cu, including two longer than 100 metres at 1.54-2.55% Cu and seven intersections of more than 4% Cu.
The assays were returned from the HG target of the Mina Justa prospect, which contains a currently defined zone of very high-grade copper sulphide mineralization approximately 400 metres long, 300 metres wide and up to 46-metres-thick. The zone is open on three sides. An earlier estimate put inferred resources at Mina Justa at 218.3 million tons at 0.80% Cu.
Chariot and its joint venture partners KOREA RESOURCES and LG-NIKKO COPPER acquired the Marcona project in January 2005. It was obtained from RIO TINTO and SHOUGANG for a price of between US$33.5 million and US$43.5 million.
Additional information is available at www.ChariotResources.com.