Altair Minerals Restricted (ASX: ALR) (‘Altair or ‘the Firm’) is happy to announce the proposed acquisition of the Venatica Copper Challenge which highlights a serious enlargement to Altair’s portfolio of Tier-1 sized discovery alternatives, moving into South America with an exceptionally high-grade porphyry. Positioned ~60km from the Las Bambas Mine which produces 2% of worldwide copper provide, Venatica shares the identical host rocks, constructions, geological controls with outcroppings of >6% copper.
Key Highlights:
- District Scale Alternative | 337km2 Landholding
The Venatica Copper Challenge spans 337km2 over 34 claims, located on Peru’s prolific Andahuaylas- Yauri Porphyry belt, host to three deposits that are >1Bt alongside strike of Venatica1. - Giant Scale Targets | >16km2 of Porphyry Targets, open in all instructions
Venatica West has two key targets amongst a regional system – (1) Irka NE: high-grade felsic copper-silver-moly porphyry >4km2 and (2) Irka SW: copper-gold porphyry-skarn >6km2, with the true lateral extent of each methods fully open. The Irka NE porphyry represents an exceptionally giant goal, which has proven an abundance of copper throughout a major 3.4km strike which samples vary 3,000ppm to >60,000ppm Cu. Majority of Venatica stays untested with potential for subsequent high-grade copper methods to be found. - Excessive-Grade Floor Outcrops | 20% of samples >3,000ppm Cu
Irka NE Porphyry Goal: Historic pattern reported by INMET (acquired by First Quantum) reported 9.5% Copper, 471ppm Mo, 160g/t Ag and 4.59g/t Au. With subsequent outcrop sampling applications on the high-grade Irka NE Porphyry (>3km strike) returning:- 5.7% Copper and 43g/t Silver (Pattern 4807)
- 4.8% Copper and 32g/t Silver (Pattern 15245)
- 4.7% Copper and 40g/t Silver and 31ppm Molybdenum (Pattern 646141)
- 7.0% Copper and 33g/t Silver (Pattern 2254)
Irka SW Porphyry – Skarn Goal: Observe-up sampling applications by INMET returned distinctive copper-gold outcomes of 4.8% Copper & 0.40g/t Gold (Pattern 4801) and 6.5% Copper & 0.52g/t Gold (Pattern 4803)
- A number of Regional Anomalous Targets | 17km of anomalous strike
Stream sampling at Venatica East has returned 4 distinct copper targets which has proven >5x background ranges of copper that has an excellent mixed anomalous strike of 17km. Stream sediments at Venatica East are analogous to the stream anomalies to Haquira (Determine 6) additionally >5x background ranges of copper, which led to 1.4Bt @ 0.46% Cu discovery alongside strike Venatica1,2,8. - Historic Excessive-Grade Manufacturing | Common 6% Copper Ore
Reported historic small-scale mining at Irka NE exploited dykes at 6% Copper, whereas on Irka SW goal, a pit (50m x 50m x 10m deep) exploited at 4% Copper from the bottom of pit (10m depth). - Confirmed Geological Mannequin | Untested Northen Extension
Venatica is sitting on the big margin contact of the Andahuaylas-Yauri Batholith intrusion, the identical Batholith contact which is the important thing structural management that has led to the invention of 5x copper deposits with >1Bt assets on this belt (See Fig. 1)1,3. Altair holds first-mover benefit to systematically take a look at the northern extension of the development, with Venatica overlaying the important thing controlling and confirmed geological formation. - Growth of Technical Staff | 11.4Mt Cu & 26Moz Au of Discoveries
Project of knowledgeable geologist group within the discovery of porphyry/skarn deposits inside the Andahuaylas-Yauri Batholith. The Peru exploration group has important expertise in characterization of the high-grade traps on this type of deposit, which turns into key within the preliminary drill program at Venatica. Altair’s strengthened Technical Staff have been collectively chargeable for discoveries of over 11.4Mt Copper & 26Moz Gold. - Established Social Credentials | Quick-Tracked for drilling by Q2 2025
Irka Vendor (Venatica West) has established social relations over 10-years with a supportive neighborhood. Irka has the extra good thing about small-scale exploitation and provisional permits granted, permitting capacity to leverage Peru’s REINFO course of to obtain drilling permits inside months. Ample infrastructure, energy and entry roads, resulting in exceptionally low exploration and drill prices.
ACQUISITION OF VENATICA PROJECT
Overview
The Venatica Challenge is a district scale and superior discovery alternative, situated ~7km South & Southeast of Abancay, within the Apurimac area of Peru. The venture has ample close by infrastructure, with important latest funding into energy traces, entry roads, manpower and pro-mining social integration because of the on-going growth of two world-class mines and development of three world- class mines within the area. The venture is linked to all primary roads in South Central Peru both by way of asphalt or paved roads, with a supportive neighborhood whereby relationships have been constructed over a decade. Two large public roads facilitate the logistics entry and join the area with the principle seaports of southern Peru for shipments of minerals: the Marcona Seaport accessed by way of Ayacucho and Ica, and the Matarani Seaport accessed by Cusco and Arequipa.
The Venatica transaction represents a non-dilutive thrilling discovery alternative, which consists of the acquisition of 100% owned Mining Course of’s alongside an choice to amass 80% of the Irka Mining Concession (“Irka Allow”), Allow Code: N010184917, which sits inside the Western half of Venatica. Altair has entered into an settlement with Crhistian Enrique Vargas Serna (“The Vendor”) for an unique 120-day due diligence interval for the price of USD $10,000. Upon satisfaction of preliminary due diligence, Altair has the choice to both lengthen the due diligence interval by 3 months for USD $10,000 or has the choice to buy 80% of Irka for USD $60,000 – see phrases part beneath for full particulars.
Geologically, Venatica is situated on the Andahuaylas-Yauri Porphyry Belt, a prolific mining hall identified for internet hosting quite a few Tier-1 copper deposits and just lately has led to the development of a number of world-class copper mines within the final 10 years (Las Bambas, Constancia, Antapaccay) run by majors similar to MMG & Glencore. This belt represents a globally important geological development, extending over 300km and containing a few of the largest copper assets on this planet.
The northern portion of the Andahuaylas-Yauri Porphyry Belt is famend for internet hosting 5x copper deposits every with >1Bt assets, together with one of many lowest quartile producers in Peru (Constancia), and the third largest copper producer in Peru (Las Bambas) accounting for two% of worldwide copper manufacturing1,4, situated simply 60km from Venatica. The belt stands out as a consequence of its simplicity in discovering these globally important deposits which usually happen on the margin contact of the Batholith Intrusive.
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