The Rosario Copper Project is a very high grade copper-silver project located in an infrastructure rich setting in northern Chile. It is situated 10km to the north of the Codelco owned El Salvadore mine and ~130km from the Chanaral port and township.
The Rosario Copper Project is located in the commune of Diego de Almagro, Chanaral Province in the Atacama region of northern Chile. The Project is situated at ~2,500m altitude and about 10km north of the El Salvador mine (owned by CODELCO) and the town of El Salvador with a population of about 7,000. Access to the Project is via well-formed paved roads and then well formed dirt roads for the last 10km.
Flagship Minerals has an option to purchase 100% of the Project.
The Project is interpreted as highly prospective yet significantly under explored Manto style copper-silver project. This style of mineralisation occurs throughout the northern parts of Chile and is responsible for significant historical and current copper production. The largest examples of this deposit style have historic production and Mineral Resources of plus 200Mt at grades of 1% Cu or better along with by-product silver. These include the Mantos Blancos, El Solado and Michilla mines, along with a host of ‘smaller’ but significant high grade copper deposits.
A program of geochemical exploration was completed in late 2024, with 316 samples collected comprising 193 soil samples, 100 rock-chip samples and 23 stream sediment samples.
The objective of the rock chip sampling program was to verify, and follow-up work conducted by previous explorers, and develop a better understanding of mineralisation potential more broadly.
Rock chip assay results of up to 8.9% copper (Cu) with silver (Ag) to 50ppm were received. The results generally enhanced previous exploration results with many samples containing Cu and silver (Ag) mineralisation:
The results are compelling and demonstrate the large scale nature of highly elevated copper across much of the Rosario project area.
Rosario Copper Project and its regional setting
The Project is approximately 120 kilometres east of the port city of Chanaral and 160km north of the mining city of Copiapo. ENAMI’s El Salado Oxide and Sulphide copper ore processing plant is located 100km from the Project.
Rosario Copper Project relative to Codelco’s El Salvador Copper Projects
Pantanillo is an oxide gold project located in the Maricunga Gold Belt (MGB), which hosts ~100Moz Au. Gold majors Barrick, Newmont, Kinross and Goldfields present. Pantanillo has a 47.4Mt at 0.69g/t for 1.05Moz Au MRE (NI 43-101) supported by ~20,500m of drilling, and is open up and down dip, and along strike.
At Rosario Flagship is targeting oxide copper. Rosario has 15km of strike across three zones. The eastern zone is interpreted to be 20-200m wide with assays up to 8.9% Cu. 100 non-selective rock chips and channel samples average 2.16% Cu and 12g/t Ag (0.1% cutoff) and 3.15% Cu and 18g/t Ag (0.75% cutoff).
RK is a hard rock lithium project located in Southern Thailand. The project has an MRE, ~165kt LCE, and positive metallurgy. The MRE relates to 1 of 3 prospects, the other two prospects are supported by strong drilling and geochem results. As Thailand is Southeast Asia’s largest EV producer, RK has strategic value.
