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Southern ITS International, Inc. and Atacama Minerals Inc. Sign Definitive Agreement
Southern ITS International, Inc. and Atacama Minerals Inc. Sign Definitive Agreement.
About this update from Southern Its International Inc.
[{"type":"text","content":"\n Palm Desert, CA, Aug. 26, 2021 (GLOBE NEWSWIRE) -- Southern ITS International, Inc., (OTC Pink: SITS) announced that it and Atacama Minerals, Inc. have signed a definitive agreement, whereby Southern ITS International, Inc. will own a thirty percent (30%) interest in Atacama Minerals, Inc.  James Shipley, President of Southern ITS International, Inc. said, “We look forward to our relationship with Atacama Minerals and their successes with their mining projects.”     Mr. Daniel Miroli, Chief Operating Officer of Atacama Minerals and its wholly owned Chilean subsidiary, Minera Los Apires SpA, said, “We are 100% owners of the Flamenco Gold Mining project located in the world-renowned Atacama Desert Fault, regional home of several major gold and copper mining operations and exploration projects.   Our mineral leasehold is 1830 hectares, approximately 4500 acres.” He went on to say, “The Flamenco Project is located in the coastal Chilean mountain range some 15 kilometers from the ocean, surrounded by a number of world-class mining operations. Twenty kilometers to the East is Mantoverde Mine, a major copper-gold mining operation in the process of a billion-dollar production and processing expansion plan.   South and West next of our Flamenco project, is El Zorro, a large exploration project headed by Tesoro Resources which is an Australian public company.  They recently announced an initial maiden gold resource estimate of 660 kilo ounces representing a dollar value of around $1.15 billion.  These estimate results only represent less than 1/3 of the 60,000-meter drilling campaigns completed. The announcement by Tesoro Resources is a confirmation of Flamenco's own geological study findings and results since both projects are in the same mineralized geological structural body. We are extremely excited about these new developments, and we are looking forward to commencing our own initial drilling campaign to establish proven and inferred gold reserves. Since the commencement of the El Zorro project which started approximately two years ago, we have been closely following and analyzing their strategy as a model to our Flamenco project.”  Further information concerning the Mantoverde Mine can be found here:https://mantoscopper.com/ Further in...