TD2 is southwest of the main Los Calatos deposit. Surface mapping identified the presence of copper oxides that soil samples indicated was a well-developed copper anomaly similar in character to Los Calatos.
William Howe, managing director, said: "The drilling of the hydrothermal breccia at TD2 is important, as it has the potential to increase the resource base at Los Calatos, and with it to enhance the economics of any future mine development.
“In parallel the process of securing a funding partner is progressing, with a number of interested parties undertaking due diligence, with further site visits planned."
Los Calatos has a total estimated mineral resource of 352 mln tonnes at 0.76% copper, with a Measured and Indicated Mineral Resource of 136mln tonnes.