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King Copper Discovery Corp. reports mineral exploration developments tied to the Colquemayo copper-gold-silver project in southern Peru. The company, formerly Turmalina Metals Corp., trades on the OTCQB under TBXXF and on the TSXV under KCP, with updates centered on the Colquemayo option property, historic drilling, geological modeling, and exploration planning.
Recurring announcements include technical-team and board appointments, strategic advisory additions, private placement financings, warrant or share issuances, and equity incentive grants. Company news also addresses community and social-affairs capacity in Peru, conference participation, and the completed corporate name and symbol change that aligned the issuer with its copper-focused exploration strategy.
Turmalina Metals Corp. (TBX-TSXV, TBXXF-OTCQX) has received TSXV approval for its Mineral Property Option Agreement with Compania De Minas Buenaventura S.A.A. The agreement grants Turmalina's subsidiary the option to acquire 100% interest in the Colquemayo Project, consisting of nine mining concessions in Peru.
To exercise the option, Turmalina must:
- Pay US$1,560,000 in cash over four years
- Incur $6,200,000 in exploration expenditures
Turmalina Metals Corp. (TBX-TSXV, TBXXF-OTCQX, 3RI-FSE) has provided an update on its recently announced option to acquire 100% of the Colquemayo Project in Peru. The project is an epithermal and porphyry copper-silver-gold exploration property in Moquegua Province, Southern Peru, spanning 6,600 hectares. Historic drill results include impressive intersections such as 237.3 m at 2.4% Cu, 0.08 g/t Au & 10 g/t Ag.
The company is undertaking initial permitting steps, community meetings, and data review. Exploration will focus on validating geology, determining breccia body geometry, and interpreting geophysical data. Turmalina aims to explore areas outside the three known hydrothermal alteration centers, which may represent less eroded parts of epithermal systems with potential for new discoveries.
Turmalina Metals Corp. has entered into a Mineral Property Option Agreement with Compania De Minas Buenaventura and Aurora Copper Peru. The agreement grants Turmalina the option to acquire 100% interest in the Colquemayo Project, an epithermal and porphyry copper-gold-silver exploration project in Southern Peru.
Historical drilling results at Colquemayo have shown significant copper, gold, and silver intercepts, including 237.3 meters at 2.4% Cu, 0.08 g/t Au & 10 g/t Ag.
The project covers 6,600 hectares and includes several high-potential targets for further exploration. Turmalina will pay $1.56M in cash and incur $6.2M in exploration expenditures over four years to exercise the option.
The company plans to advance the project through systematic exploration and aims to define resources and evaluate the project's economic potential.
Turmalina Metals Corp. continues expanding mineralization in the epithermal vein camp at the San Francisco project in Argentina. They have mobilized heavy equipment to prepare drilling platforms and access roads to explore new vein systems like Veta Blanca, Veta 21, and Mosquete. The company is advancing seven vein systems within a recognized epithermal gold belt, with high-grade gold discoveries similar to nearby mines like Casposo. The exploration team has been successful in identifying new mineralized targets and extending the known epithermal vein systems, showcasing the project's potential.
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Turmalina Metals Corp. (TBXXF) has announced an aggressive exploration strategy for 2023 at its Chanape and San Francisco projects located in Peru and Argentina, respectively. Results from prior drilling show high-grade mineralization, notably at Chanape with up to 48.05 m of 3.80% CuEq. In San Francisco, the land position expanded to 40,340 ha, with seven new priority targets identified. A drilling program is set to commence in late March at San Francisco, targeting new high-priority areas, while Chanape awaits permit approvals for further drilling. The Company is also granting stock options and has entered marketing agreements to enhance investor exposure.
Turmalina Metals Corp. (TBXXF) announced the final results from its 2022 diamond drilling program at the Chanape project in Peru. The drilling program, totaling 2,257 m, intersected extensive gold-silver-copper mineralization across multiple breccia targets. Highlights include significant intercepts from CHT-DDH-043, with 49.05m @ 1.14 g/t Au and 30.63m @ 0.54 g/t Au from CHT-DDH-044. CEO James Rogers expressed enthusiasm for the high-grade results that will inform further drilling in 2023.