Argentina: Commencement of Copper Exploration at the Sapitos Project

Corriente Argentina S.A., a subsidiary of the Canadian company First Quantum, which also owns the copper project Taca Taca in Salta, is aiming to confirm the presence of a copper mineral deposit and has established a camp where 30 individuals are currently employed.

The initial investment for this stage is estimated at around $1.7 million, with plans to continue hiring local labor, procuring goods and services locally, offering internships to students pursuing relevant mining-related careers, and implementing corporate social responsibility initiatives, always in coordination with the Municipality and the Provincial Mining Secretariat.

The company is conducting a small-scale diamond drilling campaign totaling 2,500 meters, comprising 5 boreholes, aimed at demonstrating the potential and determining whether there is mineralization in the area or not,” explained Steve Anderson, the exploration manager at First Quantum Minerals.

Anderson further stated that the exploration campaign is expected to last for two to three months. Company officials communicated this to Mayor Luis Orquera of General Lamadrid and Mayor Hugo Páez of Felipe Varela. Additionally, representatives of First Quantum have made themselves available to provide any necessary information, with the possibility of opening an office for this purpose in Villa Castelli, as well as coordinating training sessions and visits to the camp.

Given that the company mobilizes and utilizes goods and services from Guandacol and surrounding areas for its activities, a meeting was also held with the mayor and other authorities of the Felipe Varela Department to introduce the "Sapitos" project and coordinate joint actions as the project progresses.

In both meetings, provincial government officials, local government representatives, and company officials emphasized the importance of advancing a provincial strategic plan where communication plays a fundamental role, and they pledged to continue coordinating actions and efforts to advance sustainable development in the province through mining activities.

Regarding these engagements, Steve Anderson stated: "We have had meetings with authorities from both the provincial government and the Villa Castelli and Villa Unión departments, explaining and presenting our early-stage exploration project in Lamadrid, which is the Sapitos project."

Regarding the company, the exploration manager commented: "We are a company focused on copper and zinc, the two most interesting metals for the current energy transition the world is experiencing."

"We work in balance and harmony with communities, the environment, legislation, and also the safety of our people," he emphasized. Finally, he stressed that "these meetings serve us to communicate effectively and transparently."