South American explorer company Latin Metals Inc has acquired the 2,900-hectare Auquis Copper Project property located in the Peruvian Coastal Copper Belt, the company said in a statement.
The region has witnessed many recent discoveries, including copper porphyry, VMS, IOCG, and intrusion-related gold deposits.
The Auquis Project is a copper-molybdenum porphyry exploration project that has multiple untested geochemical stream sediment anomalies, including a single target area measuring 3.5km by 2.0km, where all stream sediment samples grade >300pmm copper.
It has a total of 42 historical stream sediment samples that contain multi-element anomalies across multiple drainages, with copper assay results ranging between 48.7ppm to 607ppm.
The company also said that a clearly defined metal zonation is evident with a central core of copper-molybdenum anomalies and distal silver and zinc-lead anomalies in the area.
Latin Metals already has several projects in Argentina and has been actively seeking to acquire copper and precious metal projects in Peru. In August, it had announced staking of the 4,000-hectare Lacsha Copper Project in Peru.
The country is a vital producer of base metals and precious metals and the second-largest producer of copper in the world.