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ALTO DE LIPANGUE
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Key Facts
Location:
Chile
30 km NW of SANTIAGO Commodities: Copper, Gold, Silver
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Comparable Properties
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Latest Information February 1, 2002 California-based Medinah Minerals has completed a USD5 million financing package, and a company spokesperson told BNamericas it will use some of the funds to resume drilling at its Alto de Lipangue copper-gold project in central Chile, reports BNAmericas.com. The Alto de Lipangue project area is located in central Chile, approximately 30 km northwest of Santiago in the coast range mountains at an elevation of approximately 2,000 metres.  May 14, 2001 Medinah Minerals announced that financing is proceeding on a joint venture agreement with a London-based joint venture capital corporation first announced on April 14, 2001. The group has agreed to provide US$5 million in exchange for 25% ownership of the Alto de Lipangue claims in Chile, after the completion of a due diligence study. Any mining revenues will be shared on a 75% to 25% basis in favour of Medinah. March 31, 2001 A contractor recommended that the property area should continue to be evaluated for large tonnage, bulk mineable, breccia hosted gold-copper +/-silver and/or copper porphyry style mineralization, according to the suggested two phase, results driven exploration program. The total approximate cost for Phases 1 (US$415,000) and II (US$605,000) is US$1,020,000. |
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