The property has two distinct mineralized zones: Lagunillas and West Wall Norte. The mineralization zones are a part of an in depth north-northeast placing hydrothermal alteration zone of roughly 9km by 4km. The royalty bought by Nova covers each zones, which comprise the present useful resource on West Wall.
Again in October 2010, Anglo American reported a maiden inferred useful resource at West Wall, targeted solely on the Lagunillas zone. The acknowledged inferred useful resource at the moment was 750Mt at 0.54% Cu, 0.05 g/t Au and 0.01% Mo.
Since then, Anglo and Glencore have accomplished exploration actions ensuing within the identification of a brand new mineralized zone, West Wall Norte, and a major enhance in whole mineral assets.
The West Wall venture is positioned in the identical geological belt as a few of South America’s largest copper deposits, together with Andina, Los Bronces, Los Pelambres, El Pachon and El Teniente. The Vizcachitas copper-molybdenum growth venture, on which Nova has an present 0.98% royalty and is owned by Los Andes Copper (TSXV: LA), is roughly 20km away from West Wall.
“West Wall is without doubt one of the world’s premier greenfield copper initiatives. Along with the 0.98% NSR that we already personal on the neighboring Vizcachitas venture, by means of this transaction, Nova now owns royalties on two of the biggest and most superior growth initiatives in one among Chile’s most strategic copper producing areas,” Alex Tsukernik, Nova’s president and CEO, stated in a information launch.
Shares of Nova Royalty superior 6.9% by midday EST time. The firm, primarily targeted on buying royalties on copper and nickel deposits, has a market capitalization of roughly C$244.3 million.