Sep 14 2015
Arena Minerals Inc. ("Arena" or the "Company") is pleased to announce that a reverse circulation drill rig has been mobilized and commenced drilling the Baquedano NE Project ("Baquedano") under Joint Venture with Japan Oil, Gas and Metals Corporation ("JOGMEC").
The exploration program is designed to drill the entire land package under option to JOGMEC (for further details please refer to press release dated July 15, 2015). The program will systematically drill the land on a 1.5 km by 1.5 km grid, reducing the chances of missing a world class copper porphyry deposit. The approach was to design a grid that was tightly spaced enough so that drill holes would minimally intersect the alteration halo of classic porphyry hosted copper deposits. The spacing was determined using sizes and geometries typical of deposits in the area and, in particular, the known characteristics of the Spence and Sierra Gorda deposits.
The technical and scientific aspects of this news release have been reviewed and approved by Mr. Vernon Arseneau, P.Geo, who is a qualified person pursuant to NI 43-101. As the Vice President of Exploration of the Company, Mr. Arseneau is not considered independent.
Technical Report
Arena also reports that it has filed a technical report (the "Technical Report") in respect of the Company's Atacama Copper Property, in the municipalities of Sierra Gorda and Maria Elena, Antofagasta Region (II), Chile (the "Project").
The Technical Report, entitled "NI 43-101 Technical Report on the Atacama Copper Property, Communes of Sierra Gorda and Maria Elena, Antofagasta Region (II), Chile", was authored by James Albert McCrea, B. Sc., P. Geo, who is an independent "qualified person" as defined by National Instrument 43-101. The Technical Report is dated July 16, 2015 and may be found under the Company's profile on SEDAR at www.sedar.com.
About Arena Minerals
Arena Minerals is a prospect generator that has two properties under option covering approximately 153,000 hectares within the Antofagasta region of Chile. The properties are at low altitudes, within producing mining camps in infrastructure rich areas. The Company's flagship asset is the Atacama Copper Property, consisting of 149,235 hectares of essentially undrilled ground in the heart of Chile's premier copper mining district. Currently, approximately 40% of the Atacama Copper Property is under option to third parties. Pursuant to an option agreement entered into between the parties B2Gold Corp and Japan Oil, Gas and Minerals National Corporation each have the right to earn into 20% of the land holdings within the property, representing a total of 40% of the land holdings. Collectively, B2 Gold and JOGMEC are to spend over US$36 million in exploration expenditures, amongst certain other commitments, to earn into 60% of the respective claims blocks. In addition the Company has the Pampas El Peñon project, comprising a total of 3,400 hectares which is less than 1 km from Yamana's Agusta Victoria project which forms part of the El Peñon mine complex. The Pampas El Peñon and Atacama Copper Property properties comprise Arena Minerals highly prospective copper and gold properties within an active mining region.
To view the website, please visit www.arenaminerals.com.
In addition to featuring information regarding the Company, its managements and projects, the website also contains the latest corporate news and an email registration allowing subscribers to receive news and updates directly.
On behalf of the Board of Directors of
Arena Minerals Inc.
William Randall, President, and CEO