Hancock Secures 51% Stake in Linderos Copper Project, Ecuador
Hancock Prospecting's subsidiary Hanrine has successfully earned a 51% stake in the Linderos copper project in Ecuador after investing $20 million in under two years. This achievement accelerates the project's development timeline and presents significant resource potential with extensive porphyry copper mineralization confirmed.
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Hancock Prospecting's subsidiary, Hanrine, has achieved a 51% ownership in the Linderos copper project in Ecuador, completing a $20 million investment in less than two years, significantly ahead of the seven-year target. Titan Minerals retains a 49% interest and is free-carried until Hanrine meets the next milestone, which requires either a mining decision or total expenditures of $120 million, potentially increasing Hanrine's stake to 80%.
Recent drilling has confirmed a large-scale porphyry copper system with substantial intersections at the Copper Ridge prospect, highlighting areas for further exploration. Identifying three primary extensional targets suggests possible expansions of the mineralized footprint, which may enhance the project's overall value and resource estimate.
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