MENDOZA, ARGENTINA. July 10, 2014. Argentina Mining is pleased to announce that First Quantum Minerals Limited, a Canadian company that recently acquired Taca Taca project in Salta, will join us as Copper Sponsor at the 10th International Convention on Business Opportunities in Exploration, Geology and Mining, Argentina Mining 2014, which will take place September 3-5, 2014, in Salta Province.
The copper producer First Quantum Minerals Limited recently announced the purchase of Canadian junior Lumina Copper Corp., operator of the Taca Taca copper project, which is located in the Puna in Salta, in a transaction valued in the order of $ 470 million Canadian Dolars.
Under Canadian NI 43-101 regulations, Taca Taca has an indicated resource of 9.6 MT of copper resource, contained 2,170 MT grading 0.44% copper, 0.08 g / t gold and 0.013% molybdenum, implying an equivalent grade of 0.57% copper, and an inferred resource of 3.4 MT of contained copper resource at 921 MT grading 0.37% copper, 0.05 g / t gold and 0.012 % molybdenum, implying a copper equivalent grade of 0.47%, using a cutoff grade of 0.3% copper.
These estimates are defined by a total of 148,000 meters drilled over several exploration campaigns. The deposit remains open in some depth and extent areas.
First Quantum executives have reported that after the transaction is completed, they will begin a review of Taca Taca project to define the most economical and efficient field development scenario.
"We are pleased by the support of First Quantum Minerals and we welcome them for the first time to Argentina Mining. Taca Taca is a particularly significant project for our company, as its director Nivaldo Rojas, participated in the discovery. The reactivation of Taca Taca will be essential for the mining development in Argentina, "said Javier Rojas, General Coordinator of Argentina Mining, organizing company of the Convention Argentina Mining 2014.
First Quantum joins other companies to participate in the 10th International Convention on Business Opportunities in Exploration, Geology and Mining to be held in Salta. The convention offers a 3-day conference program, exhibition of mining projects, products and services of main suppliers, and multiple networking opportunities.
About Argentina Mining:
Argentina Mining is an Events and Marketing firm focused on the Argentinean mining market, with offices in Mendoza and Salta. Its objectives are gathering the mining community in Argentina and providing a place to promote the activity in the world, developing business opportunities for its members. The company organizes the premium international event of the Argentinean mining sector, the Argentina Mining Convention, which takes place biennially in Argentina since 1996, and the Latin Exploration Conference, among others. Additionally, it provides advisory services in public relations and marketing and develops supplementary products. For further information, please visit www.argentinamining.com
About First Quantum:
First Quantum Minerals Ltd. is an established and rapidly growing mining and metals company operating seven mines and developing five projects worldwide. The company currently produces copper, nickel, gold, zinc and platinum group elements. For further information, please visit: http://www.first-quantum.com/