Two mining companies announced progress on gold projects in the Maricunga corridor in Chile's Atacama region. President José Antonio Kast also backed Kinross's Lobo Marte project.
The Maricunga corridor, a 200-kilometer stretch between Copiapó and the Argentine border, is drawing attention for gold developments. Flagship Minerals reported on May 14 an estimate of 115.2 million tonnes of resources containing 2.1 million ounces of gold at Isidora Norte.
Over 90% of the resource falls into measured and indicated categories. Managing director Paul Lock said it marks a transformational milestone and that the project emerges at the right time amid improved Chilean mining policy.
Tiernan Gold hired Ausenco for the pre-feasibility study of its Volcán project, which already holds 9.8 million ounces of measured and indicated gold. Kinross's Lobo Marte project, with an estimated US$3 billion investment, is advancing through environmental permitting in the communes of Copiapó and Tierra Amarilla.