Estrella Resources (ASX: ESR) has completed Induced Polarisation, Resistivity and Magnetotelluric surveys at its Antucoya West copper prospect within project Altair in Chile.
The surveys have identified a 7 square kilometre high chargeability zone, less than 2 kilometres east of Antofagasta Minerals’ (LON:ANTO) Antucoya porphyry deposit.
The most noteworthy characteristic about the new target is that it trends west along the known magnetic anomaly that extends over the Antucoya Deposit.
Estrella is currently incorporating hyperspectral data image processing and ground reconnaissance of identified geological alteration areas of interest to constrain the prospective surface area.
Infill geophysics is also in planning to assist in further identifying fault structures and zones of high strain which are more likely to host mineralisation.
Once these activities have been completed, Estrella plans to drill test the area.
Antofagasta's Antucoya porphyry project is currently being developed at a CAPEX of around $2 billion, will have a 20 year mine life, is expected to produce 85,000 tonnes per annum of copper cathode for the first 5 years.
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