INTRODUCTION

A joint venture in Region IV of Chile between Teck and Milena Resources LLC transformed a greenfields anomaly on 15 square km (1500 hectares) into a new high sulfidization alkali-like Au-Cu porphyry with inferrable resources of 22 million cubic meters of 0.15-0.35% Cu based on drill hole assays (Fig 1).

The concession block is located in región IV, Chile, 115 km east of La Serena (see fig 2) in the center of a world-class Miocene Porphyry Cu-Mo belt. North of Milena are gold deposits such as the very high grade El-Indio and the Tambo mine. Teck geologists report an alteration age at Milena that is consistent with economic mineralization. Teck reported 14.3my Ar-Ar on sericite. The date suggests mineralization is related to the “Infiernillo” hornblende diorite intrusion dated by Sernagiomin as 16my..

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Figure 1. After: Teck, Exploration 2009, F. Daley, VP Exploration Presentation (porphyry model inset from Holliday & Cooke, 2007).