Wild Acre acquires Peruvian triple-header

THE BOURSE WHISPERER: Wild Acre Metals has acquired three drill‐ready projects located within the Southern Peru porphyry copper belt.

The acquisitions include the Sambalay gold / silver / copper project and the Chaparra and Yauca iron oxide copper gold (IOCG) projects.

 

Wild Acre Metals ‐ Peru projects location map. Source: Company announcement

Wild Acre said the Sambalay copper‐gold project is host to surface rock chip samples grading up to 15.1 grams per tonne gold, 2,780 grams per tonne silver and 10.55 per cent copper situated directly above an identified resistivity anomaly.

The project is located in a fairly respectable neighbourhood being surrounded by Anglo‐American, Teck and BHP Billiton exploration concessions.

These projects are situated within the Peruvian‐Chilean coastal IOCG belt that hosts the Marcona (1.4 billion tonnes at 55.4 per cent iron) and Pampa De Pongo (863 million tonnes at 41.3 per cent iron) and Mina Justa (400 million tonnes at 0.76 per cent copper) mines.

 “The acquisition of the Sambalay, Chaparra and Yauca projects positions Wild Acre in one of the best districts for exploration in Peru, with excellent targets to make a discovery,” Wild Acre Metals chairman Grant Mooney said in the company’s announcement to the Australian Securities Exchange.

“We have spent considerable time over the last six months evaluating numerous opportunities in South America and believe our new Peruvian project portfolio and potential opportunities will bring great value to Wild Acre in the foreseeable future.

“We are looking forward to getting a drill rig on the ground at each of the three projects.”

Wild Acre said it was pleased to have acquired three projects located in key areas of the highly-regarded Southern Peru Porphyry Copper Belt with projects previously untested by drilling that it described to be, “exhibiting surface geochemical and geophysical anomalies that may lead to a major discovery”.

The company has planning currently underway to commence drilling of priority targets in 2012‐13.