Business
Minsud Announces South32 to Contribute Funds of Third Tranche to Continue Exploring the Chita Valley Project
Minsud Announces South32 to Contribute Funds of Third Tranche to Continue Exploring the C...
About this update from Minsud Resources Corp.
[{"type":"text","content":"\n \n \n \n Minsud Announces South32 to Contribute Funds of Third Tranche to Continue Exploring the Chita Valley Project\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n TSX-V:\n \n MSR\n \n \n \n \n TORONTO\n \n ,\n \n Nov. 9, 2021\n \n /CNW/ -\n \n Minsud Resources Corp.\n \n (TSXV: MSR)\n \n (\"Minsud\"\n \n or the\n \n \"Company\")\n \n is pleased to announce that a wholly-owned subsidiary of South32 Limited (\"\n \n South32\n \n \") has given notice of its intention to fund the third tranche exploration activities in 2022 as per the earn-in agreement executed on\n \n November 1, 2019\n \n (the \"\n \n Earn-in Agreement\n \n \"). The 2022 program will largely include in-fill and scouting drilling, with the broader objectives of continuing the delineation of the resource footprint at Chinchillones area and establish additional porphyry centres along the Chita Valley Project, in the Province of San Juan, Argentina.\n \n \n Minsud is actively completing the second tranche exploration program at the Chita Valley Project which is also being funded by South32. The current 2021 program is mostly focused on drilling the Chinchillones area, where the drill hole results confirmed the presence of highly significant Zn-Pb-Ag mineralization that overprinted at least two (2) porphyry centres. Partial results of this year's exploration program were released by Minsud on\n \n October 7, 2021\n \n , and\n \n August 26, 2021\n \n . The reported substantial porphyry Cu mineralization supports the potential of Chinchillones to host clusters of intrusion-hydrothermal phreatic breccias affiliated with porphyry mineralization.\n \n \n \n Ramiro Massa\n \n , Minsud's President & CEO, said: \"\n \n The decision by South32, a globally diversified mining and metals company, to partner with Minsud to explore in\n \n Argentina\n \n and advance our Chita Valley Project in San Juan province demonstrates South32's confidence in our exploration strategy, our technical capabilities and commitment. Minsud's management and exploration team are looking forwar...