Tinajas is located in the relatively low-altitude Paleocene porphyry belt of southern Peru. The 28.8-square-kilometre licence area is held by Teck Peru. HPX holds the option to earn up to 65% in the project.
Elsewhere in the Andean cordillera, Paleocene porphyry mineralization is the focus of some of the largest deposits: Spence (Chile), Cerro Verde (Peru), Tia Maria (Peru) and Cerro Colorado (Chile).
This project is located 55 kilometres from the coast with established highways and infrastructure.
HPX’s partner, Teck Peru, has recognized porphyry stockwork in an erosional window through volcanic cover. Drilling through cover nearby has intersected several encouraging intercepts that appear to increase in thickness and tenor toward an interpreted blind porphyry center to the northwest.
HPX flew an airborne magnetic survey in 2016 and has identified a compelling magnetic target that exactly coincides with the interpreted center of the copper-gold porphyry system. This is a binary drill target with good odds of success, and it will be efficiently evaluated using the HPX technology and team.