The Toro Prospect
The Toro Prospect comprises the Toro-Eulogio concessions located
approximately 60 km to the north-east of the Cerro Maricunga Project.
Atacama Pacific acquired the rights to the Toro and Eulogio concessions
from a local Chilean prospector through an agreement to pay US$1,000
before June 30, 2012. Furthermore Atacama Pacific agreed to pay a 0.6%
NSR royalty from any commercial production however may buy 25% of the
royalty (or 0.15% NSR) for US$1,500,000 at its election. These
concessions were acquired, on the basis of detailed satellite imaging
research, as areas which have characteristics suggestive of the
alteration typical of Maricunga-style high-level (solfataric), high
sulfidation precious metal epithermal systems.
To date, Atacama Pacific has not conducted any geochemical sampling or
on-the-ground geology over these concessions. The color anomalous
alteration areas that have been detected on the basis of satellite
imaging suggest that the altered areas at Toro warrant a first pass
geochemical sampling and geologic mapping program as proposed by Atacama
Pacific. This work would primarily comprise geochemical sampling (soil,
float and rock chip) and limited geological mapping. Dependent on the
results of this work, an expanded Phase II exploration program may be
considered.
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