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Tolu Minerals Limited (“Tolu”) is pleased to announce the granting of its Ipi River tenement EL 2780 (Figure 1) covering 395.56 km2 of highly prospective copper-gold mineralisation. The historically discovered Ipi River porphyry deposit within EL 2780, located 55 km northwest of the Tolukuma gold mine is one of several under-explored porphyry style Cu-Au-Mo systems with epithermal Au overprint within Tolu’s exploration portfolio.
HIGHLIGHTS:
- Ipi River tenement EL2780 granted by the Mineral Resource Authority
- Preliminary interpretation of Airborne MT imagery indicates five previously unknown copper-gold targets that require further exploration and drill testing
- The newly advanced Airborne MT survey provides electrical resistivity imaging of the top 1km to define geological targets and structures related to copper-gold mineralisation, as well as magnetic data to assist in the exploration process
- Ipi River Porphyry System represents a historically under-explored Cu-Au-Mo system where previous rock sampling results returned up to 10.10% copper and 167g/t gold
- Douglas Kirwin, renowned porphyry and epithermal specialist, is appointed to the Advisory Board
Iain Macpherson, MD & CEO of Tolu Minerals Ltd. said:
“I’m pleased to report the progression of our exploration strategy with the award of Exploration License EL 2780 consisting of highly prospective ground within the Ipi River tenement. This award, coupled with our recent and historical exploration programmes at Ipi River, reinforces Tolu’s position as an emerging, important explorer and operator in what is rapidly becoming one of the great gold/copper provinces of the world.
Recently flown Airborne MT preliminary imagery reinforces historical exploration data and indicates a number of porphyry or intrusive related copper-gold targets. The tenement also includes historical copper-gold-molybdenum, late-stage epithermal gold, and peripheral unexplored Au targets. This latest addition to our tenement portfolio allows us to proceed with our next stage of exploration on a more detailed evaluation of the Airborne MT results and target areas.
The award of the Ipi River exploration license is a significant addition to Tolu’s highly prospective exploration and development portfolio that provides a number of compelling targets and potential for further major discoveries.
In line with the Company’s vision to reveal the porphyry and epithermal deposit potential at Tolukuma, Mt Penck and now Ipi River, the appointment of Doug Kirwin to Tolu’s Advisory Board is a testament to the Company’s broader commitment to defining a substantial resource within Tolu’s exploration targets, further to the re-start of the Tolukuma Gold-Silver Mine.”
Chris Muller, Tolu’s Executive Group Geologist commented that “the continuous progress towards growing Tolu’s exploration portfolio with high potential tenements has reinforced my view that Tolu is among the most exciting growth companies in one of the great underdeveloped and underexplored gold mining provinces on the planet.”
The advanced Airborne Magneto Telluric (“Airborne MT” or “MT”) survey was flown over the Eastern 209km2 of the EL to help in identifying a new generation of geophysical targets related to gold and copper-lead-zinc mineralisation for ground follow-up and drilling.
Airborne MT is an advanced geophysical technology providing high-resolution, deep resistivity/conductivity 3D mapping to over 1km depth. Final data from the recently completed airborne MT survey flown over the known Ipi River porphyry and Mt. Yule “Bulls- eye” magnetic porphyry gold-copper systems have diagnostic sub-surface conductivity, resistivity and magnetic signatures that are calibrations for identifying similar integrated anomalies.
An additional five, previously unexplored discrete geophysical target areas, have already been identified, proving the technique to be a cost-effective compliment to historical exploration results. A more detailed desktop review of historical exploration and airborne geophysics will now be completed ahead of fieldwork on ground.
Target mineralisation within the tenement includes an extremely intense and large 6km x 6km dipolar “Bulls-eye” magnetic anomaly (Figure 2) at Mt. Yule (IPI06), located at a major structural intersection of the NE-trending Yule Transfer Structure and orthogonal structure related to a deep-set high electrical resistivity trend (Figure 3).
The IPI06 occurs as an exceptionally high magnetic signature (>1,730nT dipolar variation) and geologically related to a diorite/monzonite intrusive. The magnetic characteristics are like that of the Indonesia Grasberg monzodiorite and Ertsberg diorite Cu-Au-Ag mineral deposits, located on the Western half of New Guinea island1.
Figure 1: Location and Regional Geology of Ipi River EL2780 and Tolukuma Tenements
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This article includes content from Tolu Minerals Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Cash Payment Received from Loreto, Chile Option and Joint Venture Agreement
Transaction Terms
Pursuant to the Agreement, Teck Chile has been granted options, to earn up to a 75% interest in Loreto by making US$600,000 in staged cash payments and spending US$17m on exploration.
First Option
Asara has granted Teck Chile an option to acquire a 55% interest in Loreto (the First Option). Teck Chile may exercise the First Option by incurring an aggregate of US$5,000,000 in expenditures on Loreto and by making US$600,000 in cash payments to Asara as set out in the schedule below. The dates for remaining payments, are tied to the Permit Date.
Second Option
If Teck Chile exercises the First Option, Teck Chile shall have a further option to acquire an additional 20% interest in Loreto, by incurring an additional US$12,000,000 in expenditures over the ensuing four-year period (the Second Option).
Loreto Project Litigation
As announced on 8 May 2025, Asara successfully concluded legal proceedings brought against the Company as outlined in its ASX Announcement dated 15 November 2023. As part of the settlement, Asara was required to sell 25.26% of its interest in the Loreto Project to Costa Rica Dos SpA (Costa Rica Dos) for approximately A$87,122 with payment to be made through future profits generated in the context of the Agreement with Teck Chile. Accordingly, Asara is not required to remit the requisite portion of the recent payment to Costa Rica Dos.
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This article includes content from Asara Resources, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Australian Critical Minerals to acquire significant gold and copper portfolio in mineral rich Peru
Highlights
- ACM has entered into a binding Share Purchase Agreement to acquire 100% of the issued capital of Circuit Resources Pty Ltd which owns several potentially transformational gold and copper projects in highly prospective locations in Peru.
- Targeting gold and copper, with high grade silver and base metals a secondary focus.
- Blanca Gold Project is a low-sulphidation epithermal quartz vein with substantial previous drilling and trenching identifying high grade gold.
- Drill results include:
- Bonanza drill grades to 52.8g/t Au over 1.5 metres within 9.5m @ 11.27 g/t Au
- 4m @ 3.97 g/t Au, including 1.75m @ 7.5 g/t Au
- 1.5m @ 22.68 g/t Au within 5m @ 7.04 g/t Au
- 1.2m @ 8.13 g/t Au within 7.37m @ 2.44 g/t Au
- 6m @ 2.31 g/t Au (refer to Figure 4 and Appendices 3 and 4 for full results of the drill and trench sampling program). (1,2,3)
- Only partially drilled - 2km of the 3km strike remains to be drilled
- Drill results include:
- The Riqueza Copper-Silver Project is a district-scale, intermediate-sulphidation vein system extending over a 10 km strike length, which has undergone substantial exploration by previous operators.
- Copper grades from 1% to 8.7% and silver assays to 2,238 g/t in historic surface rock chip samples
- The Flint Gold Project hosts a 6 sq km high-sulphidation system with strong geophysics and geochemistry,
- directly bordering Peñoles’ San Juan copper deposit—highlighting shallow gold potential.
- Cerro Rayas hosts eight high-grade zinc-lead-silver workings along 8 km, with rock chips grading over 40% Pb+Zn—showcasing standout exploration potential (refer to Figure 15 and Appendix 6 for further details).
- Completion of oversubscribed $1m placement to support exploration across new and existing projects.
Australian Critical Minerals Managing Director, Dean de Largie commented, “The acquisition of Circuit Resources is a significant opportunity for ACM, delivering a pipeline of high-impact exploration projects across gold, copper, silver, zinc, and lithium in Peru. The scale and quality of these assets—spanning over 25,000 hectares— give us immediate drill-ready targets and exceptional scope for new discoveries.
Projects like Riqueza, with high-grade copper-silver veins over several kilometres and proximity to majors like Anglo American, offer Tier-1 potential. Blanca has already demonstrated strong gold mineralisation, while Cerro Rayas and the Salar projects provide exposure to critical metals with potentially strong demand tailwinds.
This acquisition significantly strengthens our portfolio, and we’re excited to begin unlocking value with aggressive exploration in the near term.”
Figure 1 – Location of Circuit Resources Projects
Circuit Resources Project Overview
Circuit Resources owns or has the right to acquire 100% of six projects comprising 37 mining concessions covering 25,600 Ha in Peru. Refer to Appendix 5 for a summary of the mining concessions to be obtained through the acquisition of Circuit.
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This article includes content from Australian Critical Minerals, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
