The global economic slump of 2008 had a significant impact on a considerable portion of the worldwide minerals and mining sector. Its lasting implications continue to weigh heavily on many junior exploration businesses, making it difficult for them to get investment capital.
Chilean Metals Inc. is one company that has defied the extended downturn and achieved significant success. It is a junior mining company based in Toronto that is largely focused on the exploration of IOCG deposits in Chile.
Chilean Metals is exploring IOCG deposits in its different holdings in Chile. The corporation owns 100 percent of over 100 mineral claims, which are spread over five properties.
Chilean Metals has bought properties in Chile, where about half of the world’s copper is located, over the last four to five years. With a worldwide deficit of base metals at the moment, this is an excellent time for the company.
According to the company’s president and CEO, Patrick Cruickshank, everyone is very bullish on bulk products and basic metals right now. This is mostly due to the environmental and infrastructure initiatives made by the United States, China, and India.
Cruickshank put together one of the most capable IOCG technical advisory teams. They spent around six months preparing for the drill program, which was staffed by experienced veterans with more than three decades in the business and strong knowledge of geology.
Zulema is Chilean Metals’ number one priority on the Atacama fault, and it is now undergoing drilling. This area is expected to yield 100 million ounces of gold and a billion ounces of copper, according to the company.