Hancock subsidiary can earn up to 80% stake in the Linderos project
Hanrine Ecuadorian Exploration and Mining, a subsidiary of Gina Rinehart's Hancock Prospecting, have cemented a joint venture and earn-in agreement with Titan Minerals to acquire up to 80% of the Linderos copper project in Ecuador.Under the agreement, Hanrine will earn an initial 5% interest in the project for US$2 million and can earn up to 80% by achieving specific exploration milestones or by funding up to $120 million.
The project is largely underexplored, but the Copper Ridge Porphyry and Maseta Gold prospects are the most advanced. A maiden drilling campaign of eight diamond holes for 3,702m at the Copper Ridge Porphyry prospect in 2022 included highlights of 308m at 0.4% copper equivalent from 54m and 558m at 0.2% from surface.At the Meseta Gold prospect, meanwhile, diamond drilling at 14 holes over 1,270m returned 7.2m grading 13.77gpt gold and 12.9gpt silver from 66.28m, and 4.9m grading 12.
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