Optioned to Solaris Resources
Capricho is a 3,768 hectare concession package with a porphyry copper target. Pucara has an option agreement with Lowell Copper S.A., a wholly owned subsidiary of Solaris Resources Inc (TSX:SLS.V), where Lowell Copper has the option to earn 75% interest over three stages. Recent prospecting work on the claims has uncovered porphyry mineralization in stockworks and altered intrusive rocks. The concessions contain enrichment zones of up to 3% copper. Lowell Copper has planned community engagement, sampling, mapping, and geophysics in order to define drill-ready targets.
The option with Lowell Copper/Solaris gives the company the right to earn up to 75% interest in Capricho. Lowell Copper must obtain all necessary agreements and permits for drilling and spend US$5 million during the first three years for interest of 51%. The remaining 24% interest will be granted when Solaris spends US$11.5 million over the next four years, solely funding a Pre-Feasibility Study (PFS) on the property. Additionally, they will pay US$500,000 to Pucara.