Capstone completes acquisition of nearby San Pietro that consolidates Atacama assets
TSX- and ASX-listed Capstone Copper has completed the acquisition of copper assets at the San Pietro copper/gold/iron/cobalt project, in Chile.
The acquired project and its Rincones and Colla deposits are strategically located between Capstone's Monteverde, Santo Domingo and Sierra Norte properties in the Atacama region.
San Pietro adds about 16000 ha of highly prospective, underexplored land to Capstone's district-scale land position.
The Rincones and Colla deposits jointly host an inferred mineral resource of 492-million tonnes grading 0.23% copper and 0.05 g/t gold.
Capstone paid a total consideration of $25-million in shares to New Golden Exploration Chile - which is a joint venture (JV) indirectly owned by Golden Arrow Resources Corporation and its JV partner Sociedad de Servicios Andinos.
The acquisition represents a cost-effective expansion of Capstone's position in the Atacama region, providing an immediate increase in mineral inventory and a platform for further resource growth.
