Alturas Continues to Maintain Its Interest in the La Corina Copper-Gold Project in Northern Chile
April 13 2012 - 11:26AM
Marketwired
Alturas Minerals Corp ("the Company") (TSX VENTURE:ALT)(LMA:ALT) is
pleased to announce that it is continuing to maintain its interest
in the La Corina copper-gold porphyry property in northern
Chile.
Pursuant to the Final Option Agreement (as amended) with the
owners of the property (the "Owners"), the Company has made the
required staged cash payment of US$70,000 to the Owners.
Pursuant to an assignment agreement with the two individuals who
had a previous right to acquire the La Corina project from the
Owners (the "Original Optionors"), the Company issued 836,066
common shares at the price of $0.1195 per share to the Original
Optionors. The common shares are legended and restricted from
trading until August 11, 2012.
For further details regarding the Final Option Agreement, please
see the Company's press release dated April 30, 2010 and subsequent
press release on the amendment dated March 2, 2011.
About the La Corina Copper-Gold project
La Corina copper-gold project, located 70 kilometers northeast
of La Serena in Region IV of northern Chile lies on the interpreted
southerly extensions of the porphyry belt of northern Chile, the
world's most productive copper province. La Corina represents an
important development for the Company in Chile, one of Latin
America's premier mining jurisdictions.
In La Corina district, a Paleocene volcanic complex has been
intruded by Eocene intrusive rocks; strong hydrothermal alteration
and mineralization are associated with the intrusive phases. The
presence of abundant tourmaline-bearing breccias within the project
is also encouraging, and is a geological feature common to many
large porphyry deposits such as El Teniente and Los Bronces in
Chile, and Toquepala and Cuajone in Peru. Targets at La Corina
consist of bulk tonnage, low grade, copper-gold porphyries
concealed beneath an extensive copper-gold in soils anomaly plus
smaller tonnage, higher grade, gold-copper breccia pipes.
Alturas completed a 1,400 meter drilling program in September
2010, which tested high priority copper-gold targets defined by
detailed geochemical and geophysical surveys previously conducted
by the Company.
Encouraging drilling results from the central segment of the
east-west gold trend of up to 47.8 meters grading 0.90 grams/tonne
gold, including sections of 3.05 meters grading 2.33 grams/tonne
and 4.0 meters grading 2.87 grams/tonne gold, were reported by the
Company in a press release dated October 13, 2010.
About Alturas Minerals Corp
Alturas is a Canadian corporation, and is the indirect parent of
the Peruvian company, Alturas Minerals S.A. ("Alturas Peru") and of
the Chilean company, Alturas Chile Limitada ("Alturas Chile").
Alturas Peru has been exploring various mineral projects in Peru
since January 2004. Alturas Chile initiated exploration activities
during the second quarter of fiscal 2010. Alturas' exploration
strategy is focused on the discovery of large copper-gold
porphyry/skarn deposits and epithermal gold mineralized
deposits.
The principal assets of Alturas are six drill-ready mineral
exploration projects located in Peru and Chile, including the Chapi
Chapi-Utupara, Sombrero, Huajoto, Ccaccapaqui and Pampa Colorada
projects in Peru, and La Corina property in Chile. In addition,
Alturas Peru has interests in three other less-advanced exploration
projects in Peru Callejones, San Antonio and La Divina.
For further information, please visit the Company's website at
www.alturasminerals.com.
Should you wish to receive Company news via email, please email
investor@alturasminerals.com and specify "Alturas News" in the
subject line.
Cautionary Language and Forward Looking Statements
This press release may contain "forward-looking statements",
which are subject to various risks and uncertainties that could
cause actual results and future events to differ materially from
those expressed or implied by such statements. Investors are
cautioned that such statements are not guarantees of future
performance and results. Risks and uncertainties about the
Company's business are more fully discussed in the Company's
disclosure documents filed from time to time with the Canadian
securities authorities.
The TSX Venture Exchange and the Bolsa de Valores de Lima do not
accept responsibility for the adequacy or accuracy of this
release.
Contacts: Alturas Minerals Corp. + 51-1-372-3739 (Lima, Peru) +
1-416-363-4900 (Toronto, Canada)investor@alturasminerals.com
www.alturasminerals.com Alturas Minerals Corp. 67 Yonge Street,
Suite 1102, Toronto, ON Canada M5E 1J8 Alturas Minerals Corp. Av.
Del Pinar 180, Suite 804, Chacarilla del Estanque, Lima 33,
Peru