Global Hunter Corp.
Global Hunter's La Corona de Cobre project is approx. 15,000 hectares of land located in the Coast Range of the Andean Cordillera, Chile, an area often referred to as the Chilean Iron Belt. The property is on the Pan American Highway, 70-kilometres north of the port city La Serena.

The property is located at the southern end of the Atacama Fault Zone, a north-northeast regional feature that stretches for over 1,000 kilometres and hosts several large copper deposits in Chile including Phelps Dodge's Candelaria (400 million tonnes grading 0.95% copper and 0.2% gold) and Anglo-American's Manto Verde (100 million tonnes averaging 0.80% copper) deposits.

La Corona de Cobre Highlights:
  • Positive Preliminary Economic Assessment (PEA) on Las Posadas, one of 14 mineralized shear zones
  • Significant NI 43-101 Copper Oxide Resource (leachable) defined on Las Posadas
  • Substantial upside potential through additional drill ready shear zones ranging from 10 to 150m in widths and 0.5 to 9.0km in length
  • Short timeline to production
  • ~15,000 hectare land package
  • 70km north of La Serena (deep water port)
  • Pan American Highway and major transmission lines pass through property
  • Railways adjacent to property
  • Management with proven track record

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La Corona de Cobre Property

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Property Geology

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The eastern portion of the property is underlain mainly by lower cretaceous andesites while the western portion of the property is underlain predominantly by granodiorites. The miocene and quaternary gravels cover linear quebradas, or basins mostly trending northerly, concordant with the AFZ. There are generally two types of widespread alteration in that area, a northerly calc-silicate, chlorite-silica, sericite zone and a southern zone of disseminated silica with phyllic alteration. The southern zone has local developments of quartz-hematite veins and stockworks.

As many as twelve shear zones have been recognized on the property. A central group of shears radiate outward in a northerly direction from a four square kilometre alteration zone of albitization and sericitization known as El Tazon. Eight kilometres to the east a second group of shears radiate outward in a northerly direction from Cerro Barrocho. Cerro Barrocho is characterized by copper oxides and magnetite associated with widespread biotite alteration.

The shear zones are generally 50 to 150 metres wide, with segments up to 400 metres in width. The Las Posadas shear zone is the least exposed on surface, however its proximity to drilling has traced the zone along a strike length of at least 2,300 metres. Copper oxide mineralization reached depths of 170 metres, with an average depth of at least 150- meters. The oxide minerals identified are: chrysocolla, malachite, and with copper wad, pitch, cuprite, and some native copper, among others. There is a thin transition zone to primary sulfides. Lenses of actinolite and apatite are frequently found on the hanging wall of the mylonitized structure. Thin mafic dykes accompany all of the major shears.

The shear zone most explored and most developed is the Las Posadas. Reverse circulation drilling and one NQ diamond core hole defined a continuous mineralized zone with copper oxides up to 170 meters deep, and across 20 to 120 meters with a soluble oxide grade range from 1,000 PPM to 4% (Cu sol.). Sulfide grades over the same shoot assayed close to 5% Cu. The undisturbed surface sampling gave copper values ranging from 500 PPM to 10,000 PPM; trenched (¡À 2.5 meters depth) gave values 1,000 PPM to over 1.5% copper. This section model with confirmed continuity (Las Posadas Central - No 1 zone) corroborates the values obtained on the surfaces of the other shear zones, and the assay values received from sampling 180-250 metres below surface; La Mascota (4.3%); and Golondrina (4.6%). The depth of oxides in the latter group corresponds to that established by drilling. This provides a model for preliminary estimating, as well as for drill-hole targeting. A total of 7.500 ML, average length of 165 metres was drilled.

IOCC Potential

La Corona de Cobre comprises a sector of the Atacama Fault Zone (AFZ) at the intersection of a major E-W regional fault system, the Tres Cruces Fault zone which runs to the Argentinean Cordillera. The AFZ is a complex of deep fissures that can be traced for 2,000 kilometres along the Coastal Belt. There are numerous intrusives and plugs along the AFZ. The sector from Gran Copiap¨® to La Serena (350 kilometres) has been called The Iron Belt. The many gashes and structures contain massive iron oxides -- mostly magnetite and specimen specular hematite. These also carry, and are associated, with copper and gold mineralization. These have been mined either selectively high graded or in bulk-high volume.

The iron camps operated with major concerns from 1920 to the end of 2001. There are many old camps, very rich in gold and copper which were worked from 1890 through 1968. Some of these are Carrizal Norte (Asarco 1890 -- 1999), Carrizalillo (15 g/t -- 50 g/t Au, and Cu 1 --5%) and Santa Dominga 1% Cu, and 3 to 10 g/t Au. The latter two are within 15 kilometres of the La Corona de Cobre.

The La Corona de Cobre District, covering approximately 16,000 hectares, embraces an exposed swarm of ten strong shear zones in the double intersection of the AFZ with the Tres Cruces and Agua Grande faults. To the west of the district is the Santa Dominga mine camp, and to the south is the El Tofo iron ore mines.

Following the drilling in 1994 by Andal¨¦/R¨ªo Bravo, and further definition by Noranda in 1995/97 of the Las Posadas, other similar mineralized shear zones in the area were targeted and identified. The geology, mineral assemblages, alteration and morphology compared very closely to Anglo American's Manto Verde, north of Copiap¨® and also on the east side of the AFZ, in the Coastal Belt.

La Corona de Cobre District was expanded to encompass all of the large shear zones with the same style of mineralization. This expansion also embraced other target types held over the same time frame by Andal¨¦. These are stand-alone porphyry-copper and copper-gold with iron oxide plays, exhibiting typical alteration: albitization, phyllic, serecitic, potassic, hydrothermal schist silicic; and cut frequently and repetitively by structures/gashes with iron oxides (magnetite and specimen hematite); hosting copper (1-2%) and gold anomalies up to 10 g/t.

The evolving knowledge of the geological features of the major copper-gold, with Fe-oxides (IOCG) or Olympic Dam model attributed to Freeport-McMoran's (formerly Phelps Dodge's) Candelaria and Anglo's Manto Verde (+ 400 Mt. With 0.7 -- 1% Cu) and probably Andacollo, in the same, or very similar geological environment have raised a high priority profile model for exploration along the AFZ in the Iron Belt.

In the La Corona de Cobre District, a number of potential IOCG/Porphyry copper-gold targets have been identified, including Cerro Borracho/Golondrina, La Marinera (Central zone); El Taz¨®n, south of La Marinera, and Los T¨¢banos on the west side of the sector. El Taz¨®n, for example, is a prospect within the Corona de Cobre concession characterized by four square km of albitization cut by W-NW structures hosting limonite and sericite stockworks.

There is a large hidden target, under the same Atacama gravels, in the south sector of Las Posadas and Ponderosa zones, east of Santa Dominga and El Tofo camps, and north of the El Caballo Blanco (Andal¨¦) project, where drilling by Andal¨¦ disclosed economic mineralization. The structural complexity of this segment of the Atacama Fault Zone in this district with the styles of alteration and persistence of mineralization suggest a singular, or possibly interconnected, potentially large economic target.

High grade open cut at Las Posadas

Exploration team at La Corona de Cobre
High grade open cut at Las Posadas
Exploration team at La Corona de Cobre
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