Published: May 19, 2016 |

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Revelo Resources Corp. has established a Chilean joint venture company with a subsidiary of Newmont Mining Corporation, in order to own and manage the Montezuma Project in northern Chile. The JV is currently owned 51 percent by Newmont and 49 percent by Revelo, but Newmont has elected to pursue a further 14 percent (to 65 percent) in the JV company, and has an option to earn up to 75 percent, according to the agreement.

Additionally, Newmont has indicated that it plans to start drill testing of key anomalies on the approximately 45,285-hectare Montezuma Project in Q3 2016.

Through February, 2016, Newmont has spent a total of approximately US$5.6M at Montezuma since the agreement was signed in January 2014. Newmont is exploring the Montezuma Project for porphyry Cu-Au-Mo deposits and related mineralization utilizing historical data sets together with programs of detailed geological mapping and proprietary geophysical and geochemical technologies. Geological mapping has been integrated with downhole data from an extensive re-logging program of over 30,000 m of historic drilling and over 5,000 surface geochemical samples, which have generated three-dimensional geological models of the drill hole geology, hydrothermal alteration and assay data. This work has defined several potential targets of interest for copper, gold and molybdenum.

About Revelo
Revelo is a prospect generator that has consolidated an outstanding portfolio of 21, wholly-owned projects prospective for copper, gold and silver located along proven mineral belts in one of the world’s top mining jurisdictions — Chile. Multiple targets are ready for drill testing within the portfolio, and two projects are subject to option and joint venture agreements with subsidiaries of Newmont (Montezuma Project) and Austral Gold (San Guillermo Project). In addition, Revelo is developing a nascent royalty portfolio and retains a 2 percent royalty interest in the Victoria Project, an important copper-gold-silver exploration project in northern Chile.

To stop by Revelo’s website, CLICK HERE

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