The Altar porphyry was deposited in an environment that transitions from the basal roots of a high sulfidation epithermal lithocap to a sub-volcanic porphyry copper environment at depth. The deposit is described as telescoped because of the close spatial distance between the porphyry and the high sulfidation alteration systems. The age of the porphyry copper mineralization is estimated to be Miocene, approximately 10 to 12 million years old.
There are adjacent properties under exploration or development in the district surrounding Altar. Los Pelambres (Chile), El Pachon, and Los Azules (Argentina) are within 60 km or less of Altar.
There are two main ore zones within the Altar Main Area of the deposit that are called the Altar Central and the Altar East zones. Three km west of the Altar Central zone is a gold deposit called the Quebrada de la Mina (QDM) that is included in this statement of mineral resources. There were 28 drill holes completed at QDM during 2012.