Electric vehicles (EVs) are expected to make up 50% of new vehicle sales by 2030 and require three to ten times more copper than traditional vehicles, resulting in a significant increase in demand for copper production. With a well-established industry and a long history of robust mining legislation that encourages foreign direct investment, Chile is considered a highly attractive mining destination in South America.
Chris Buncic, the CEO of Interra Copper (IMCX.c or IMIMF for US investors), recently appeared on the Smith Weekly Research Podcast to discuss the company and the new Chilean copper projects it acquired through its merger with Alto Verde Copper. Watch here:
IMCX's new properties include the Tres Marias, Pitbull and Zenaida projects which are situated within Chile's Copper Porphyry, which is where the majority of Chile's copper mines are located. The projects are also within the Central Volcanic Zone, an expanse characterized by significant volcanic activity that arises from the subduction of the Nazca Plate (oceanic) beneath the Central Andes Plate (continental).
As Buncic details, the company's principal project is Trace Maurice. When this project was first taken over, IMCX used the geophysics data that was collected by the previous owner and reinterpreted it using new computer techniques. By doing this, IMCX was able to identify 3 target areas on the 16,000 hectare project. Buncic explains that these targets are all very sizable and worthy of a project on their own.
After identifying the targets IMCX conducted UAV mag and surface IP studies which further solidified that the targets exist. With this, the company designed a 20-hole, 10,500-meter drill program at Trace Maurice's Eastern Drill Target. This drill program is currently underway having begun early last week.
To learn more about this drill program and IMCX in general, make sure to check out their website as well as the interview above: https://interracopper.com/ Posted on behalf of Interra Copper Corp