Three Valley Copper (TSXV:TVC) announced this morning the start of its near mine exploration drilling program at its Minera Tres Valles project in the Salamanca region of Coquimbo, Chile. A geophysical survey of the area was conducted by Zonge Ingenieria y Geofisica Chile (SA) under the previous ownership of Compania Minera Latino Americano (LTDA), a subsidiary of Vale, in 2005. This information was used by the exploration team to plan the 2021 exploration program at the property, including geophysical, magnetic, and IP chargeability anomalies and similarity anomalies related to the Papomono and Don Gabriel mines.
The commencement of the exploration drilling program marks the beginning of a critical prong of Three Valley Copper’s business model. As a company exploring, developing, and producing copper, Three Valley is in a unique position to unlock the value of the assets it explores. Minera Tres Valles could be one of those assets.
Michael Staresinic, President and CEO of Three Valley Copper (TSXV:TVC) had this to say about the news: “Since Vale first staked the property and found our two deposits named Don Gabriel and Papomono in 2005/2006, little further exploration has been performed on the property.
“A majority of Vale’s 170,000 meters of diamond drilling was focused on defining these two deposits. Multiple targets were identified elsewhere on the 46,000-hectare land package although detailed follow-up was postponed while delineation of Don Gabriel and Papomono was prioritized.
“Our drill program will test high-potential copper targets located between Don Gabriel and Papomono, which sit approximately 3 kilometers apart. This initial area of focus represents less than 5 square kilometers or approximately 1% of our land package. We believe this is an excellent opportunity to identify new near-surface copper occurrences close to our existing mines and mineral processing plant.”
The Papomono and Don Gabriel mines are TVC’s two main ore sources but the exploration campaign looks to explore areas where two of the largest and longest third-party miners on the property operate, containing oxide-rich capsthat MTV facilities develop and process. It is also noteworthy that between the Papomono and Don Gabriel mine where Verde is located, there is a collection of artisanal pits. MTV believes similar geophysical features of the District and maps of similar copper mineralized rocks will help determine drilling targets for the upcoming program.
The possibility of being part of a larger mineralized system is consistent with available geophysical soil data. The initial drilling is expected to be between 6,000 and 8,000 meters, with a budget of $2.5 million for the drilling. Drilling will be carried out with existing surface infrastructure and current environmental approvals. The exploration team will evaluate the results of the new drill holes as they become available and incorporate them into a dynamic design and management program.
Mining, The Right Way
Minera Tres Valles is also a symbol of what Three Valley Copper (TSXV:TVC) is aiming for. The mine received visitors from the surrounding communities at the site for a demonstration of an in-situ controlled blasting event. The purpose of the event was to teach the protocols required by the regulatory authorities to the community representatives and show correct compliance with regulations. Now, TVC will put its ESG plan into action with the drill program.
The company produces Electrolytic Copper Cathodes (Grade A) of 99.99% purity. That copper is often used in electric equipment like technology, battery parts, and the copper can easily be drawn and formed into wires.
With the current focus on global decarbonization efforts, this particular type of copper is seeing massive demand growth. Electrolytic copper undergoes refining or purification through the process of electrolysis. That purification is by far the simplest method of achieving purity levels 99.99% in copper and makes Three Valley Copper’s product particularly valuable in a world that is rapidly going electric.