EXPLORATION & DEVELOPMENT

Miramont to drill new copper target in Peru

Project samples include up to 7.5% copper

Staff reporter
Using the “nail test” for copper at Cerro Hermoso

Using the “nail test” for copper at Cerro Hermoso

Miramont said it had identified a new copper target where 55 samples all contained copper with the highest grading 1.08%, and 14 of the samples contained silver of up to 4.2 ounces per tonne.

It also reported samples grading up to 7.5% copper and 18.8oz/t silver from the Carbonate Replacement Zone.

Hennigh, who is also president and chairman of Pilbara conglomerate gold play Novo Resources Corp, was appointed chairman in November as Miramont completed its all-scrip takeover of privately-held Puno Gold Corp.

"Not only do we see potential for a large volume of mineralised breccia within the diatreme complex, we are compelled by potential for replacement style precious and base metal mineralisation within limestone encircling the diatreme and beneath volcanic cover," he said.

"Such a system is seen at the nearby San Gabriel deposit."

The company had C$4.7 million (US$3.6 million) in cash at the end of January.

It is planning a 5,000m drilling programme at Cerro Hermoso and received environmental approval mid-month.

It shares closed unchanged at C35c, capitalising it close to $17.8 million.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Journal Intelligence team.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Journal Intelligence team.

editions

ESG Mining Company Index: Benchmarking the Future of Sustainable Mining

The ESG Mining Company Index report provides an in-depth evaluation of ESG performance of 61 of the world's largest mining companies. Using a robust framework, it assesses each company across 9 meticulously weighted indicators within 6 essential pillars.

editions

Mining Journal Intelligence Global Leadership Report 2024: Net Zero

Gain insights into decarbonisation trends and strategies from interviews with 20+ top mining executives and experts plus an industrywide survey.

editions

Mining Journal Intelligence Project Pipeline Handbook 2024

View our 50 top mining projects, handpicked using a unique, objective selection process from a database of 450+ global assets.

editions

Mining Journal Intelligence Investor Sentiment Report 2024

Survey revealing the plans, priorities, and preferences of 120+ mining investors and their expectations for the sector in 2024.