The Altar project is a copper-gold porphyry deposit located in San Juan Province, Argentina. The Altar project forms part of a more regional cluster of world-class porphyry copper deposits, which includes Los Pelambres (Antofagasta Minerals), El Pachon (Glencore), and Los Azules (McEwen Mining).
In addition to copper and gold, the Altar deposit contains silver and molybdenum. The Quebrada de la Mina ("QDM") gold and silver deposit is located roughly 3 km west of the Altar porphyry in the same mineral district. Both are supported by a common exploration camp.
The Altar project is currently accessed via two routes in Argentina. The primary access route is shared with the El Pachon project (owned by Glencore) and leads southwestward from the town of Barreal before swinging northwards toward El Pachon, then continuing an additional 25 km to the Altar camp. In total there is approximately 170 km of gravel road from Barreal to Altar that is suitable for exploration support. There is no rail or air access to the Project. The closest airports are in the cities of San Juan and Mendoza. The site is remote and has no local infrastructure apart from the gravel road to the property.
In the future, there is an opportunity to develop alternative property access from Illapel, Chile. This route would require the upgrading of 64 km of existing unpaved public road and the construction of 23.5 km of new roads.
The Altar project consists of eight mining concessions, two exploration permits and nine mining rights of way (servidumbres). It also includes an option on the five adjacent Rio Cenicero concessions. The Altar concessions collectively cover an area of about 8,443.7 hectares and the Rio Cenicero concessions cover an additional 3,716.6 hectares.
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