They are in a trading halt at the moment, could be interesting.
SHAREHOLDER ANNOUNCEMENT - 14 SEPTEMBER 2009
PERUVIAN GOVERNMENT APPROVES LOS CALATOS EXPLORATION DRILLING
• Hampton Mining Limited (Hampton) has received approval from the Peruvian Government for a new 20,000 metre diamond drilling program at its Los Calatos copper-molybdenum project in southern Peru.
• Hampton plans to drill 26 diamond drill holes to test the porphyry system, including the depth potential to 1,000m below surface.
• Hampton previously reported total resources for Los Calatos of 262 million tonnes at 0.43% Cu and 0.042% Mo (0.74% CuEq)*at a cut off grade 0.2% Cu.
Peruvian Government approval for drilling at Los Calatos
In Peru, exploration drilling requires an Environmental Impact Statement. After completion of an environmental assessment, Hampton has now received signed authorisation from the Peruvian Government for further drilling campaigns at Los Calatos. This follows an earlier drilling program at Los Calatos in late 2008 (Phase 1 - 6,387 metres of core drilling in 13 holes).
In the next phase of drilling (Phase 2) the Company plans a combined program of 26 diamond holes comprising 10,000 metres of infill drilling, to be followed by a further 10,000 metres (Phase 3) focused mainly on extending resources. Drilling is expected to commence in October.
Background
The Los Calatos project is located in far south Peru and occurs in dry desert topography approximately 100km from the coast at an elevation of 2800-3000 metres (Figure 1).
Total project tenements at Los Calatos are now 133 sq.km, including three original licences held by Cerro Norte Peru, under option agreement to Hampton and 13 separate licences held by Hampton Mining Peru SAC, a wholly owned subsidiary.
Metminco’s interest in the Los Calatos project is held through Hampton, in which Metminco holds a 36.5% equity interest.
Figure 1: Los Calatos – location near other porphyry deposits, southern Peru
Mineral Resources
In September 2009 Hampton reported a revised resource estimation. At a cut-off grade of 0.2% copper, the total resources are estimated to be 262 million tonnes @ 0.43% Copper & 0.042% Molybdenum (0.74% CuEq)*, broken down into;
• Indicated Resources of 69.2 million tonnes @ 0.44% Cu and 510ppm Mo • Inferred Resources of 192.4 million tonnes @ 0.42% Cu and 382ppm Mo
* Copper equivalence (CuEq) assumes ratio of Mo / Cu prices of 7.5
