Expanding its existing strategic alliance, Southern Hemisphere Mining has executed a new joint venture agreement with Lundin Mining to secure two new copper-gold projects in central Chile.
Southern Hemisphere managing director Trevor Tennant said the deal will assist the company establish its copper-gold business in South America.
“This is an important and strategic step in our relationship with Lundin Mining,” he said.
Recently both companies have been reviewing new areas in the Coquimbo region for copper-gold opportunities.
“After completing, mapping, channel sampling, and IP surveys at both projects, selected Armandino and Polvareda 2 as the first of the acquisitions under this new JV,” Tennant said.
“Both represent stand-out opportunities and walk-up drilling targets.”
Southern Hemisphere has an existing agreement in place with Lundin at its Llahuin projet, where Lundin is currently sole funding exploration, securing the right to earn up to a 75 per cent interest.
Tennant explained the company likes this region in Chile because of its high prospectivity and proximity to infrastructure and services.
“It is the place to be in Chile to develop large-scale porphyry copper projects in the 400 to 600 million tonne size range,” he said.