Revelo Resources has signed an exploration option agreement with Sociedad Quimica Y Minera de Chile S.A. regarding two of Revelo’s assets.
Revelo Resources (TSXV:RVL) has signed an exploration option agreement with Sociedad Quimica Y Minera de Chile S.A. (NYSE:SQM), which allows the latter to acquire up to 80 percent interest in two of Revelo’s copper assets in Chile.
As stated in the press release:
Both Calvario and Mirador display widespread geological characteristics indicative of the upper parts of possible porphyry copper systems, with Calvario having been the subject of minor historic drill testing, and Mirador representing an undrilled prospect. The two projects are contiguous and lie along one of the most prospective mineral belts in northern Chile, which includes major producing copper mines.
Tim Beale, Revelo CEO and President, commented:
“We are very pleased to have SQM, a major mining company with significant interests in Chile, as a partner at our Calvario and Mirador projects. This is Revelo’s third currently active JV partner, with 4 projects currently subject to third party expenditures in northern Chile. We view both Calvario and Mirador as priority targets due to their overall geological characteristics, the widespread and intense nature of the hydrothermal alteration zones, and presence of important geochemical anomalies of interest. We are excited to see this exploration program develop.”