Welcome To The Antares Minerals HUB On AGORACOM

A Canadian exploration company acquiring copper and gold exploration properties in Latin America.

Antares Minerals Profile

Antares Minerals Inc. (TSX V.ANM) is a Canadian exploration company, formed in 2004, with the objective to acquire copper and gold exploration properties in Latin America that can be quickly and cost-effectively advanced to discovery and profitable production. Antares’ team of well-qualified and experienced explorationists has met this challenge by assembling a strong portfolio of projects in Peru and Argentina and continues to seek additional high quality opportunities throughout the region. Antares has strategic alliances with Farallon Capital (San Francisco) and the International Finance Corporation (IFC; member of the World Bank, Washington DC).

The company’s most advanced project is the Haquira Cu-Mo-Au porphyry deposit, located in southern Peru; immediately adjacent to Xstrata Copper’s Las Bambas copper-gold porphyry skarn project. Antares has the option to earn a 100% interest in the Haquira project from a subsidiary of the Phelps-Dodge Copper Corporation (now Freeport-McMoRan). A total of 69,036.70 m in 286 drill holes have been completed on the Haquira project to-date (2001-2008). The best drill hole ever drilled at Haquira (and ever drilled by Antares Minerals) was completed during 2008; AHAD-159 which intersected 937.30 m with 1.14% Cu, 0.034% Mo and 0.10 g/t Au (1.42% CuEQ), which included 331.00 m with 1.76% Cu, 0.013% Mo and 0.20 g/t Au (1.94% CuEQ).

In late 2006, Antares discovered the high-grade, primary Cu-Mo-Au porphyry deposit beneath the secondary copper blanket at the Haquira East zone. In November 2008, an interim 43-101 resource prepared by TetraTech of Golden Colorado for the primary sulphide portion of the Haquira East deposit (using a 0.3% Cu cut off) was released. The resource includes: (a) Primary Sulphide Indicated Resource of 147.9 MMt @ 0.71% Cu EQ 2.31 billion lbs Cu EQ, and (b) Primary Sulphide Inferred Resource of 304.6 MMt @ 0.64% Cu EQ 4.31 billion lbs Cu EQ.

The project consists of a upper secondary Cu blanket, amenable to SX-EW processing, with a NI 43-101 compliant indicated resource of 133.7 million tonnes at 0.53% CuT and an additional inferred resource of 43.6 million tonnes at 0.44% CuT (using a 0.3% CuT cut-off). This represents a total of 1.98 billion lbs of in situ copper metal amenable to low-cost SX-EW processing (0.3% CuT cut-off). This estimate includes an indicated resource of 52 million tonnes at 0.75% and an additional inferred resource of 10.7 million tonnes of 0.63% (using a higher cut-off grade of 0.5% CuT).
Last changed at 09-Dec-2009 02:43PM by renaissance