Introduction and Location
The 32 mineral exploration and exploitation concessions covering approximately 6,600 hectares are located within the Chilean iron belt in the Atacama Desert at an altitude of 380 metres above sea level and 10 kilometres south from the city of Vallenar in the Third Region of Chile.
The mineral concessions are owned by Admiralty’s subsidiary Admiralty Minerals Chile Pty Ltd (“AMC”), through its Chilean branch “Agencia en Chile”. They are nestled in the Chilean iron belt, between the largest iron ore mines in Chile: Cerro Negro and Los Colorados, owned by Compañía Minera del Pacífico (“CMP”).
The tenements are in a prime location from the infrastructure point of view: 2.5 kilometres away from the Pan American Highway, 7.5 kilometres from a railway transportation service privately owned by Ferronor S.A., 60 kilometres from the Port of Huasco and between the cities of Copiapó and La Serena, communicated by regular air services with Santiago.
The above mentioned infrastructure places Admiralty Minerals Chile Pty Ltd Agencia en Chile (“AMC”), Chilean branch owned by Admiralty and the legal holder of the tenements, in a position that can have a very positive impact on the mine development, construction and operating costs.
Demonstrating the prospectivity and activity in the region, Admiralty’s Harper South project is located near to the El Algarrobo iron ore mine, one of the four main magnetite-apatite deposits in the Chilean iron belt.
El Algarrobo’s current Reserves are around 3.6 million tonnes at 47.5% iron, although other occurrences in the surrounding district are believed to contain resources of 130 million tonnes.
This information is currently being updated.