Drilling & Exploration
Antakena Mining has selected the following contractors for the Pre Feasibility Study, which is to be completed by October 2010:
| Project Managers: MTB Project Management Metallurgy: CIMM (Feasibility Level Testing to be completed 4Q2009) Structural Geology: Warren Pratt Surface Mine Slope and Geotechnical Engineering: Golder Associates Mine Design Engineer: Mine Development Associates Environmental Studies: Mineria & MedioAmbiente Geological Model: Geovectra Process and Infrastructure Engineer: Samuel Engineering Easements and Permitting: Lopez & Ashton Condemnation, Infill and Geotechnical Drilling: Antakena Mining |
Work Program 2009-2010
- Minera completed its 50% earn-in of C$10.8M in the 1Q2010
- Drilling program completed with a total of 9400m of Diamond and 48,000m of RC drillholes.
- Updated NI 43-101 Resource Calculation expected in Q3 2010.
- Pre Feasibility report to be completed in early Q4 2010.
- Focus of the pre-feasibility work is the Elenita deposit
- Madrugador option was dropped
The Antakena Joint Venture saw the completion of a drill program of 9400m of diamond and 48,000m of reverse circulation drillholes. The program included drilling for metallurgical samples, condemnation of potential plantsite and waste dump areas, geotechnical, geology, infill and exploration. An updated NI 43-101 compliant resource for Elenita is expected to be ready in the Third Quarter of 2010.
Pre feasibility metallurgical testwork performed includes bottle tests, short and long column tests, and VAT leaching tests. The results will be included in a pre feasibility report that is being coordinated by MTB (see News Release dated May 27, 2009) and is expected to be completed early in the Fourth Quarter of 2010. .
The main focus of the work program to date has been at the Elenita copper oxide deposit, which is hosted by volcanic and sedimentary rocks of La Negra Formation. Copper occurs in mantos, veins, hydrothermal breccias, veinlets and disseminated bodies, hosted principally in volcanic and sedimentary rocks and in intrusive rocks in a smaller proportion. Prior to Minera's work program and as reported by AQM in the March 17, 2009 press release, the compliant resource at Elenita was 19.7M tons at 0.87 TCu of Measured and Indicated resources at 0.2 cutoff and 4.8M tons at 0.73 TCu of Inferred resources. The deposit was open in several directions and at depth and Minera's drilling program was designed to test these areas.
The Madrugador option to purchase agreement was dropped in March 2010 as a result of an Antakena management committee decision, due to the high cost of maintaining the option and lack of progress in consolidating the mining properties surrounding the deposit.
Antakena also holds an option to purchase mining properties owned by Soquimich ("SQM") which surround the Elenita deposit. The purpose for acquiring these properties is twofold: some of the Elenita mineralization extends onto the Soquimich mining property, and for placement of future plant and facilities, once project feasibility is completed.