The property is located in the district of Farellón Sanchez, Choapa province, capital Illapel, Coquimbo Region, Republic of Chile, South America, located about 40 km northwest of the city of Illapel, and about 330 km from Santiago city, capital of Chile. The Claim is centered in the UTM coordinate system, Datum Provisional South American 1956, zone 19, meters 70 ° 58’48” O Longitude and 31 ° 26’53” S Latitude.
FIPE S. A., a Chilean corporation, R.U.T. No 76.242.662-5, contracted TCT Exploraciones Mineras S. A., a chilean corporation, R.U.T. No 76.212.335-5, to prepare an independent Technical Report on the Juncal Project and to propose, if warranted, an exploration program. This report was prepared in accordance with the guidelines of the National Instrument 43-101F1 Technical Report of Canada. The report was prepared by Pedro Garmendia Ponce, B. Sc., M. Sc., TCT Exploraciones S. A. Geologist, an independent Qualified Person as defined by NI 43-10The Property is located in the District of Farellón Sánchez, Choapa Province, capital Illapel, Coquimbo region, Republic of Chile, South America; approximately 40 Km. west of Illapel city, and approximately 330 Km. of Santiago city, capital of Chile. The claim is centered on Universal Transverse Mercator system, Provisional South American Datum 1956, zone 19, 70° 58 ́48” O Longitude and 31°26 ́53” S Latitude.
The claim, called Juncal 1 al 20, covers an area of 100 hectares, which is owned in 100% by the Investment Fund FIPE S. A.. To date, the mining fees applicable to the property are paid and the claim is in force.
The main rocks identified in the property are sequences of volcano-sedimentary rocks, volcano andesitic and ocoitic rocks which belong to Upper Cretaceous Viñita formation from, and are intruded by granodiorite minor bodies from Upper Cretaceous – Lower Tertiary. The primary ore consists of copper oxides and sulfides, and gold, silver and iron, which have been determined by chemical analysis. The oxidized minerals corresponds mainly to chrysocolla, atacamite and and brochantite. The major sulfide minerals are chalcopyrite, bornite, chalcocite, covellite and pyrite in lesser degree.
The site presents a clear structural control. The mineralization is contained in veins and lenticular bodies product of the intersection of district faults with minor secondary faults and oblique, which is manifested by filling the open space caused by regional faults.
There is currently no exploration, development and operations activity on the Property.
The goals of this report were to confirm the existence of Copper mineralization on the Property, produce and independent NI 43-101 Technical Report summarizing the geological knowledge accumulated and to recommend further exploration if warranted. The present report has met its original objectives.
The Property offers good copper exploration points and Cu equivalent (IOCG) and it has a potential of not less than 20 MT to host an economically mineable deposit, however, the geophysical survey, its results and the interpretation of them suggests a reservoir considerably bigger, that it will have to be drilled in order to verify such potential. In light of the results obtained to date, with past and present work, the site has a level of geological knowledge and interpretation that allowed us to identify the occurrence of mineralization and their main controls, recommending at this time, to continue exploring through of a drilling campaign in order to penetrate the geophysical anomalies.
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