Super Copper has agreed to acquire 100% ownership of the Castilla copper project, a 5,800-hectare exploration area in Chile’s Atacama region, from Verdant Resources for $100,000 in an all-cash transaction.
Additional payments are contingent on discovery drilling success, the delivery of a positive preliminary economic assessment with a net present value of at least $50m, and the achievement of the first commercial sale from production.
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Super Copper will gain outright ownership of the Castilla concessions without net-smelter return (NSR) or back-in rights.
The Castilla project, located about 65km southwest of Copiapó, lies within a significant fault system trend and is adjacent to the historic Manto Negro open-pit copper mine.
Government records suggest multiple mineral occurrences within the project’s boundaries, indicating a promising exploration opportunity.
The project’s untested western fault block of the breccia horizon, previously exploited at Manto Negro, suggests potential for heap-leach/SX-EW processing of copper.
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By GlobalDataA recent property visit confirmed the presence of artisanal mine workings and anomalous levels of copper, gold and silver, although Super Copper has not yet collected reconnaissance samples, and the ground remains undrilled.
The logistical synergies of the Castilla project’s location offer Super Copper the advantage of shared personnel, contractors and permitting resources with their Cordillera Cobre project.
Super Copper CEO Zachary Dolesky stated: “Castilla offers an exceptional risk-reward profile: we secure 5,800 hectares on a copper-oxide trend for a small upfront fee with all future payments tied to genuine discovery and development milestones.
“The historical record at the neighbouring Manto Negro pit provides a processing template, while the proximity to Cordillera Cobre lets us stretch each exploration dollar further. We believe Castilla has the potential to deliver results once drilled, and we are eager to begin work.”
The acquisition, to be completed through Super Copper’s Chilean subsidiary, is subject to due diligence, potential Canadian Securities Exchange approval, and standard closing conditions.
The expected closing date is on or around 21 July 2025.
Upon finalising the acquisition, Super Copper will control two complementary projects in Chile: the Castilla project and the Cordillera Cobre project, a larger sulphide target.
With both assets within a 100km radius, the company plans to utilise a single exploration team and shared service contracts to reduce costs and expedite decision-making processes.
