Altamin Limited (ASX: AZI) has been granted the Corchia Exploration Licence (EL) in Emilia Romagna, northern Italy with an approved exploration work programme involving historical data assessment, geological mapping, sampling, and geophysics.
The EL grants the right to explore for copper, cobalt and associated metals.
The EL of some 2,675 hectares extends over all of the historical mining sites, including near-mine and step- out strike extensions of the favourable host rocks. The EL offers significant potential for further mineral discoveries.
The Corchia mineral field contains several historical copper-cobalt production sites with the last being closed in 1943 due to World War II. Available records indicate that two of the significant mines, Donnini and Speranza, exploited only the surface gossan material and immediate down-dip massive sulphide extensions to depths no greater than ~40m.
Mineralisation at Speranza is described as up to 5.0m thick, dipping at 70- 80 degrees to the south, and significantly remains open both down dip and along strike.
Historical production records from the mines indicate high average copper grades, up to 4.7% copper, with significant associated grades of nickel, cobalt, gold and silver.
The mineralisation style is volcanic associated massive sulphide (VMS) of the Cyprus style hosted by ophiolite rocks which are partially overlain by sedimentary rocks. Modern electromagnetic geophysical techniques have proven to be a highly effective exploration method for this style of mineralisation, and their use will be assessed at Corchia.
We are delighted to see our Corchia copper-cobalt Project granted. The Corchia mining district was an important source of metal for the Italian market up to their forced closure some eighty years ago,” MD, Geraint Harris, said.
“So far, our initial research indicates that the mineralisation remains open down-dip and along strike at several of the larger historical mines.
“I am very encouraged that our cost-effective and low environmental impact modern exploration techniques will generate valuable results for follow up work.
“Corchia and our other metal Projects clearly show the dormant mining potential of Italy, and our projects are clearly of relevance to the Italian and European mission of exploring and developing domestic sources of critical metals”.
