New investor presentation for Chilean copper project
This morning, our junior exploration investment Mandrake Resources (ASX:MAN) put out an updated investor presentation which ran through in detail, the company's newly acquired copper project in the Antofagasta region of northern Chile.
MAN’s project sits in one of the most copper rich regions on the planet. The world's biggest copper mine, operated by BHP/Rio Tinto and contributing ~5% of global copper production, sits only ~100km away from MAN’s project.
MAN’s project is also de-risked to a certain extent, with ~15,000m of historical RC/diamond drilling results on hand, with a highlight intercept returning:
- 86m @ 4.83% copper from 121m
- Which includes higher grade sections of 27m @ 7.1% copper from 134m, and 3m @ 14.4% copper from 164m.
The following slide from today’s presentation stood out to us the most, detailing all of the target generation works that MAN is completing leading up to its maiden drilling program.
- Rock chip sampling combined with geological mapping.
- Geophysical surveys (IP surveys)
- Geochemical sampling (More soil/rock chip sampling)
MAN is sitting on $16.2M in cash, which means its got plenty of runway to deliver on the above exploration plans.
We covered the acquisition and launched our 2022 MAN Investment Memo in our latest note.
To see why like the new copper project and our 2022 MAN Investment Memo, check out our latest note here: Cashed up MAN picks up high grade Chilean copper asset
