Power Minerals Ltd. has announced plans to relaunch its Santa Inés copper-gold project in Argentina’s Salta Province as it takes advantage of a global upswing in the copper and gold markets.
The company regained control of the project following the termination of a previous agreement in 2023, allowing Power to move forward independently during a period of significant price appreciation in the global copper and gold markets.
Power Minerals Managing Director Mena Habib said: “With copper and gold prices reaching new heights, Santa Inés represents a compelling opportunity for Power.
“We have confirmed the system at the surface and in the first 100 metres. The real prize, however, may lie deeper.
“The fact that geophysics points to a possible major target at 600 metres – untested by our shallow scout drilling – gives Power a clear and exciting path forward to add significant value for our shareholders.”
The Santa Inés project lies within Argentina’s Puna region along the same geological corridor as BHP’s giant Econdida mine.
Power’s initial exploration phase provided a high hit rate, increasing confidence that the mineralised structures seen at the surface could extend into the subsurface.
Significant weighted intercepts during the company’s 2022 drilling include 26 metres at 0.60 per cent copper from 62 metres, including 7.35 metres at 0.89 per cent copper from 74 metres.
Rock chip samples also confirmed exceptional grades exceeding 1 per cent copper and up to 0.8 grams per tonne of gold.
Power noted that the project has significant untapped potential. Drilling completed to date at Santa Inés is extremely shallow and preliminary.
Existing geophysical data reveal high-priority anomalies beginning at approximately 600 metres depth, more than 450 metres below the current deepest drill point.
Power is now commencing a comprehensive program to combine geochemistry, field sampling and drilling data with existing geophysics to define deep-seated targets.
This program will unlock the project’s latent value by integrating high-grade surface results with a new deep-exploration targeting strategy.
