The Project is ideally located at approximately 2,900 masl, with road access, an available workforce in neighbouring communities, and 80 kms from tidewater. Zafranal is adjacent to the power grid and is along strike with existing world-class mines and several mega deposits.
The Zafranal Project is operated by AQM Copper through the joint venture company, Compañia Minera Zafranal S.A.C. ("CMZ"). AQM has had an extensive drilling programme in which over 137,000 metres have been drilled since 2010. Based on those results, AQM issued a second NI 43-101 compliant Technical Report in April 2012, which reported 510.7Mt of 0.36% Cu and 0.07 g/t Au M&I resources. AQM is now in the process of preparing a Preliminary Economic Assessment, to be issued later in 2012.
The Company is committed to fostering effective community relationships through various programmes. These include promoting community participation in environmental monitoring programmes, hiring local labour, supporting local businesses and encouraging social development initiatives. CMZ has held workshops and meetings with local and regional authorities and community representatives, have conducted guided site tours to familiarize the community with the project and have been assisting the efforts of the Regional Authority of Arequipa to formalize the artisanal miners.