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Mandrake Resources Managing Director James Allchurch said the Delfin project provides the company with an “advanced high-grade copper project” in a prolific jurisdiction.

The Delfin project hosts multiple prospects with the Delfin 1 prospect being the focus of historical exploration.

Delfin 1 was subject to 15,000 metres of drilling which encountered high-grade copper mineralisation at shallow depths including 86m at 4.83 per cent copper from 121m and 27m at 7.1 per cent copper from 134m.

Outside of Delfin 1, the Delfin 2 and Cami 9 prospects represent promising targets as they show similar structural settings to Delfin 1, with rock chip samples of up to 10.17 per cent copper from Cami 9 and 3.26 per cent copper from Delfin 2.

In the June quarter, Mandrake plans to undertake an exploration program which will involve re-interpreting existing geophysical data, assessing recently submitted rock chip samples, and drilling.

“We see a clear opportunity to apply modern exploration and interpretation techniques to understand these zones and look to grow them ahead of a maiden JORC resource,” Mr Allchurch said.

“This transformational acquisition of an advanced high-grade copper project gives the company exposure to a metal with a robust supply demand thematic, driven by the global transition to a green economy.”

https://themarketherald.com.au/mandrake-resources-asxman-to-acquire-high-grade-copper-project-in-chile-2022-03-25/