Minsud Releases Maiden Mineral Resource Estimate for Chinchillones Complex in Argentina

Minsud Resources (MSR.V) late on Friday said it has completed a maiden, pit-constrained mineral resource estimate for the Chinchillones Complex deposit at the Chita Valley project in Argentina. The mineral resource estimate yielded indicated resources of 188 million tonnes at 0.41% copper equivalent, 0.25% copper, 0.11 grams per tonne (g/t) gold, 10.6 g/t silver, 36 parts per million (ppm) molybdenum and 0.16% zinc, containing 776,000 tonnes of copper equivalent, 466,000 tonnes of copper, 674,000 ounces of gold, 63.5 million ounces of silver, 6,800 tonnes of molybdenum and 291,000 tonnes of zinc. Inferred resources were 573 million tonnes at 0.36% copper equivalent, 0.22% copper, 0.09 g/t gold, 9 g/t silver, 93 ppm molybdenum and 0.11% zinc, containing 2 million tonnes of copper equivalent, 1.2 million tonnes of copper, 1.7 million ounces of zinc, 165.6 million ounces of silver, 53,200 tonnes of molybdenum and 616,000 tonnes of zinc. The resources are considered suitable for open-pit mining and the use of the flotation process. Copper, silver and gold are the primary contributors to the mineral resource estimate. Mineralization remains open at depth, with further molybdenum potential identified in unexplored areas. Minera Sud Argentina, a joint venture between a South32 subsidiary at 50.1% and Minsud at 49.9%, has led exploration at the Chinchillones Complex since 2019. Minsud's share price gained 3.1% to $1.00 on Friday.