Excava Holding (“Excava”) is pleased to announce that the company has completed the staking of 4,000 ha of exploration concessions and initiated the development of the Jupiter project in the coastal belt in the Antofagasta region, Chile.
Copper mineralization observed to date at Jupiter, both mid-grade and high-grade, are observed to be both feeder/vein hosted as well as manto or stratabound hosted, similar to that observed at Marimaca.
Targets 1 & 2 host robusts Cu grades in proximity to historic workings and mine developments.
The Jupiter project is accessible by paved road 90kms south of Antofagasta city, the major mining hub in northern Chile, with access to renewable power and adjacent to the ocean to secure access to sea water. The underexplored Jurassic Volcanic/IOCG Belt is host world class mine operations including Michilla, Antofagasta’s Antucoya (2021 production: 76kton Cu), Mantos Copper’s Mantoverde and Mantos Blanco (2021 production: 59kton Cu), Teck’s Carmen de Andacollo (2021 production: 49kton Cu), Lundin’s Candelaria (2021 production: 178kton Cu), Anglo American’s El Soldado (2021 production: 42kton Cu); and major projects including Marimaca Copper Corp’s Marimaca (113 Mt @ 0.57% Cu), Hot Chili’s Productora-Cortadera (724 Mt @ 0.48% CuEq) and Capstone’s Santo Domingo (584 Mt @ 0.3% Cu).
Overall Jupiter distric is underexplored yet hosts many established and documented working in/around its 4,000 hectares. Excava recently commissioned a preliminary reconnaissance field work program which identified two initial extensive target zones hosting high-grade oxide Cu outcrops, warranting immediate follow-up mapping and detailed sampling. Outside of the initial target areas, the remaining extents of the exploration claims offer substantial upside to identify additional mineralized trends and outcrops as well as areas under shallow colluvial cover.
The abundant microdioritic dykes are interpreted to be feeders of high-grade copper mineralization in both gabros and andesites.
Numerous blind targets are interpreted to be present under local thin veneer of colluvial cover in proximity to contact zones of mafic intrusives and La Negra Fm volvanics – favourable for hosting hydrothermal solutions rich in copper.
The main alteration associated with Cu mineralization is albite – epidote – magnetite.
Mineralization is observed as disseminations and in quartz-albite-epidote veins & in fractures as oxide Cu (atacamite – crysacola – malachite & black oxides).
Airborn MAG show that mineralization is consistent with low mag, signaling several untested areas.
Target 1 has evidence of copper mineralization in a corridor of at least 3 x 2 kms.
Fig 2: Jupiter target areas, surface rock sampling and MAG (click to enlarge)
Both Target 1 and Target 2 have high exploration potential similar to that discovered at Marimaca (see section A-A’ in Target 1). NW-SE trending major structures appear to be conduits/feeders for high-grade copper mineralization forming mantos or stratabound horizons in receptive Andesitic volcanics adjacent to gabbro-microdiorite intrusives – many blind targets remain.
Excava will be looking for partners to advance the project.