Investor Perception
With belongings situated in a historic copper mining district in Chile that boasts high-grade mineralization and low-cost operations, Purple Steel Assets represents a compelling funding alternative and plenty of potential for growing shareholder worth.
Overview
Purple Steel Assets (CSE:RMES) is a Canadian-listed junior mining firm specializing in copper exploration, with a specific concentrate on Chile’s Carrizal Alto mining district within the Atacama Area. The corporate’s exploration targets, primarily the Farellon and Perth tasks, are well-positioned to profit from Chile’s globally vital copper sector.
Chile is the largest producer of copper worldwide, accounting for almost 28 p.c of the worldwide provide. Given the nation’s favorable mining insurance policies, skilled workforce, and well-established infrastructure, Purple Steel Assets is well-placed to leverage these benefits because it advances its tasks on this prolific area.
The corporate’s Carrizal property contains two key undertaking areas: the Farellon undertaking within the south and the Perth undertaking within the north. The famend Carrizal Alto mining district has a wealthy historical past of copper and gold manufacturing relationship again to the nineteenth century. Traditionally, the district was considered one of Chile’s most efficient copper areas, located inside Chile’s prolific Coastal Cordillera belt, which boasts high-grade copper mineralization and low-elevation, cost-effective operations. Purple Steel Assets is working to rejuvenate Carrizal’s legacy by bringing trendy exploration methods to the area’s underexplored deposits.
Purple Steel Assets’ administration crew brings collectively a mix of technical and enterprise experience, driving the corporate towards its objective of contributing to the rising international demand for copper and clear vitality transition. The corporate additionally advantages from a board of administrators and advisors with substantial expertise in capital markets, exploration, and the Chilean mining trade. This mixture of technical experience and enterprise acumen is vital for Purple Steel Assets because it seeks to advance its tasks from exploration to potential manufacturing.
Prolific mining district
The Carrizal Alto mining district, situated in Chile’s Atacama Desert, is understood for its mineral wealth, significantly copper, gold and cobalt. The district’s mining historical past dates again to the early nineteenth century when it turned one of the crucial essential copper manufacturing areas in Chile.
One of many key benefits of the Carrizal Alto district is its favorable geographic place. The realm is situated at a low elevation of round 500 meters above sea stage, which reduces the logistical challenges typically related to exploration in higher-altitude areas. Moreover, the district is well-connected by infrastructure, together with highways and proximity to main city facilities. The property is located simply 150 kilometers south of Copiapó, 25 kilometers from the coast, and solely 20 kilometers west of the Pan-American Freeway. This shut entry to infrastructure permits for simpler transportation of kit and provides, in addition to streamlined entry to labor and different sources.
The Carrizal Alto district gives a mix of historic mining information and trendy exploration potential. Whereas the area was closely mined within the nineteenth and early twentieth centuries, a lot of the realm stays underexplored utilizing trendy strategies. Immediately, the district is experiencing a revival, thanks partially to Purple Steel Assets’ exploration efforts. The corporate’s Carrizal property spans 3,278 hectares, comprising 21 safe mining claims, and contains two tasks: Farellon and Perth.
Firm Highlights
- Purple Steel Assets holds 3,278 hectares throughout 21 safe mining claims inside the Carrizal Alto mining district within the prolific Coastal Cordillera.
- The corporate’s Carrizal property contains two tasks – Farellon and Perth – situated in an space with a wealthy historical past of copper and gold manufacturing.
- The Farellon undertaking has over 9,000 metres of drilling, figuring out 1.5 kilometres of mineralized strike size with potential for a further 3.5 kilometres.
- In 2022, a high-grade floor pattern from Farellon returned 5.77 p.c copper, 1.55 p.c cobalt, and 0.11 g/t gold.
- Administration and insiders management roughly 35 p.c of the corporate’s shares, aligning their pursuits with buyers.
Key Undertaking
Farellon Copper Undertaking
The Farellon undertaking is Purple Steel Assets’ flagship asset, situated within the southern portion of the Carrizal Alto mining district. The undertaking is a high-grade iron-oxide-copper-gold vein deposit that has been the main focus of a lot of the corporate’s exploration actions. The mineralization at Farellon is primarily hosted in quartz-calcite veins that comprise chalcopyrite, bornite and chalcocite sulphide mineralization. These veins vary from 3 to six meters in width, with a halo of lower-grade mineralization extending 15 to twenty meters across the veins.
Farellon is situated adjoining to the historic Carrizal Alto mine, considered one of Chile’s most prolific copper mines through the nineteenth century. The mineralized veins on the Farellon property are believed to be a part of the identical geological construction that hosted the mineralization on the Carrizal Alto mine. Historic mining within the space offers invaluable insights into the area’s geology, which Purple Steel Assets is leveraging to information its exploration technique.
So far, the corporate has accomplished over 9,000 meters of drilling at Farellon, figuring out a mineralized strike size of roughly 1.5 kilometers. The mineralization stays open alongside strike for a further 3.5 kilometers, and at depth, indicating vital exploration upside. In 2022, the corporate accomplished a 2,010-meter diamond drilling program that prolonged the identified mineralization at depth and recognized a parallel construction, the Gorda Vein, which provides additional exploration potential.
Latest floor geochemistry work has additionally highlighted a number of new targets for follow-up sampling and drilling. One high-grade pattern, taken 2 kilometers north of the Farellon drilling, returned values of 5.77 p.c copper, 1.55 p.c cobalt, and 0.11 grams per ton (g/t) gold, additional underscoring the potential for added high-grade mineralization on the property. These exploration outcomes place Farellon as a extremely potential undertaking with the potential to turn into a big copper-gold-cobalt useful resource.
Perth Undertaking
The Perth undertaking, situated within the northern portion of the Carrizal Alto district, is Purple Steel Assets’ second main exploration asset. The undertaking holds appreciable potential for copper-gold-cobalt mineralization. Perth is characterised by fault-related quartz veins which have been mapped and sampled throughout the property. Historic prospecting and mapping applications have recognized 12 veins, with a median thickness of two meters and a few zones reaching as much as 6 meters in width.
Exploration at Perth has yielded promising outcomes, with 48 floor samples returning gold values higher than 1 g/t, 46 samples returning copper grades exceeding 1 p.c, and 19 samples displaying cobalt values above 0.05 p.c. These early-stage exploration outcomes are encouraging and recommend that the Perth undertaking has the potential to host vital copper-gold-cobalt mineralization.
Purple Steel Assets plans to conduct extra exploration at Perth to raised perceive the extent of the mineralization and to prioritize drill targets for future campaigns. Whereas the undertaking is at an earlier stage in comparison with Farellon, it gives an essential alternative for the corporate to broaden its useful resource base inside the Carrizal Alto District.
Administration Staff
Caitlin Jeffs – President and CEO
Caitlin Jeffs is a founding companion of Fladgate Exploration Consulting in Thunder Bay, Ontario, the most important, full service, mineral exploration consulting agency in Northwestern Ontario. She has over 20 years of mineral exploration expertise in gold and base steel exploration with junior and main useful resource corporations, together with Placer Dome and Goldcorp. Jeffs can be a director of Kesselrun Assets and TomaGold.
John Da Costa – CFO
John Da Costa has 30 years of accounting expertise managing and reporting for Canadian public corporations, and 10 years with US public corporations. He labored with a Canadian public firm working in Chile within the late Nineties and has expertise with Chilean subsidiaries. He’s the founder and president of Da Costa Administration, offering administration and accounting companies to each private and non-private corporations within the US and Canada since 2003.
Brian Gusko – VP Finance
Brian Gusko has an MBA from the College of Calgary and attended the European Summer time Faculty of Superior Administration. Gusko has over 15 years’ expertise in capital markets and has helped increase over $75 million for numerous enterprises. He has served on the board and as chief monetary officer of assorted non-public and public corporations. Gusko has assisted with the interlisting of greater than 10 corporations on the Frankfurt Inventory Trade and has helped quite a few corporations entry German capital markets. He has labored as chief monetary officer at a number of non-public and public corporations. The final firm he helped take public on the CSE had a market capitalization of over $200 million on the time of itemizing.
Michael Thompson – VP Exploration and Director
Michael Thompson acquired his Honours B.Sc. in Geology from the College of Toronto in 1997, and has since labored for a number of junior and main corporations in each gold and base steel exploration, together with Teck Cominco, Tri Origin Exploration, Placer Dome CLA, and Goldcorp. He focuses on structural interpretation of gold deposits in addition to administration of enormous exploration applications. He’s a founding companion and 33 p.c proprietor of Fladgate Exploration Consulting in Thunder Bay, Ontario.
Marian Myers – Undertaking Supervisor and Director
Marian Myers has an M.Sc (Geology) from the College of the Witwatersrand, South Africa, and has 35 years’ expertise working for a wide selection of main and junior mining corporations together with Gold Fields, Anglo American, AngloGold, Balmoral Assets and Cardero Useful resource. Myer’s breadth of worldwide expertise has taken her from her house city close to Johannesburg, South Africa to work on tasks in Ghana, Zimbabwe, Australia, Alaska, Peru, Chile and now, Canada, the place she resides in Vancouver. She specializes within the GIS integration of geochemical, geophysical and geological data, together with historic information units with experience in QA/QC procedures, discipline information assortment supervision, and evaluation and technical report growth.
Cody McFarlane – Director
Based mostly in Santiago, Chile, Cody McFarlane is managing companion of Axiom Authorized, a world and multidisciplinary legislation agency specializing in cross border transactions between Australia, Canada and Latin America. McFarlane brings in depth expertise within the mining and regulatory setting in Chile.
