Gelum Plans Acquisition of Las Tinajas Gold Project, Northern Maricunga Belt, Chile

Core Viewpoint - Gelum Resources Ltd. has entered into a letter of intent to acquire a 100% interest in the Las Tinajas Gold Project, which spans 2,600 hectares in the Maricunga Gold Belt, Chile, marking a significant step in the company's corporate development and positioning it as a premier gold exploration company focused on South America [1][2]. Acquisition Details - The Las Tinajas Gold Project is located 120 km northeast of Copiapó, Chile, within the Maricunga Gold Belt, which contains a total of 103 million ounces of gold [1][2]. - The acquisition will involve a total consideration of USD 9 million, with a structured payment plan over four years, including a minimum work commitment of 4,000 meters of drilling [12][13]. Geological and Exploration Highlights - The Las Tinajas project features gold mineralization associated with silicified porphyry intrusions and diatreme breccias, with significant historical drilling results indicating intervals of over 1 g/t gold [2][4]. - Historical drilling campaigns have revealed multiple significant gold intervals, including 43 meters of 1.18 g/t Au and 26 meters of 2.09 g/t Au [9]. - The project area has not been fully explored, with potential for expanding known mineralized centers and testing favorable geological contacts [2][4]. Upcoming Work Program - Gelum plans a two-phase work program to validate historical data and expand surface exploration, followed by drilling to define mineralization and complete a maiden NI 43-101 mineral resource estimate [7]. - Preliminary metallurgical work will also be initiated on representative mineralized samples to establish recovery parameters [7]. Management and Corporate Strategy - Gelum's CEO, Henk Van Alphen, emphasized that the acquisition of Las Tinajas will significantly enhance shareholder value and transform the company into a leading gold exploration entity [2]. - The company is led by experienced management and advisors in the mining and financial sectors, indicating a strong foundation for future growth [16].