About AQM Copper Inc.
AQM Copper Inc. is a Canadian-based company, exploring and developing copper deposits in South America. Through its wholly-owned subsidiary, Minera AQM Perú S.A.C., the Company's focus is on developing the Zafranal Project located in Southern Peru. The Company continues to explore within the 32,000 hectares of the property and investigate other properties in South America. Zafranal is located in the resource rich district of the Southern Peru Porphyry Copper Belt, and is ideally situated amongst the world's largest operating copper mines. AQM Copper is listed on the TSX-Venture and BVL exchanges, trading under symbol "AQM".
AQM Copper is the operator of a 50/50 Joint Venture with Teck Resources Limited through a sole purpose Peruvian company. Since 2010, more than 130,000 metres have been drilled on the property. In April 2012, a NI 43-101 compliant Resource Report was issued that incorporates results from the Main Zone, Victoria, Sicera Sur and Sicera Norte zones. The resource estimate is summarized below:
Zafranal Project Resource1
1 released on April 3, 2012 Category |
Tonnes (in millions) |
Cu% |
Au g/t |
Measured |
138.2 |
0.39 |
0.07 |
Indicated |
372.5 |
0.35 |
0.07 |
Measured + Indicated |
510.7 |
0.36 |
0.07 |
Inferred |
4.9 |
0.26 |
0.04 |
These resources represent a 70% increase in tonnage and 23% decrease in grade, compared to the first, in-situ, resource estimate released in early 2011. The increase in tonnage is due to the inclusion of tonnage from the periphery of the Main Zone and the new Victoria deposit, plus the absence of a grade shell when constructing the resource, which tends to incorporate additional lower grade into the resource as the search ellipsoid in no longer constrained by a hard boundary, thus increasing tonnage and decreasing grade. In addition, the increase in tonnage is the result of the lower grade Inferred Resource being converted to Measured and Indicated Resource. Ongoing exploration continues on five other targets on the property.
AQM is working on the Preliminary Economic Assessment for Zafranal and expects to release the results later in 2012.
AQM's Management Team includes members with extensive experience working for the world's largest copper and gold producers in South America. The Company's President and CEO, Mr. Bruce Turner, was former President of BHP Billiton's Minera Escondida, and played a significant role over 19 years in the development and management of Escondida, which became the world's largest copper producing mine. Mr. Alvaro Fernandez Baca. Consulting geologist to AQM, has over 13 years of experience exploring in Peru, and formerly was General Manager for Gitennes Exploration and Head of Exploration for Entrée Gold in Mongolia. Mr. Ahlgren, the Company's Chief Financial Officer brings over 25 years of finance and accounting experience, including First Coal Corporation and Kinross Gold.


