Kobrea completes new payment for seven copper projects in Malargüe

Kobrea Exploration made a new disbursement to advance the acquisition of up to 100% of seven copper projects located in Malargüe, Mendoza. The transaction included a cash payment of US$500,000 and the issuance of 300,000 common shares.

The portfolio comprises a total area of 733 km² in the southwestern part of the province and brings together assets at different stages of exploration. The option agreement, signed on August 14, 2024, provides for cumulative payments of US$6.76 million and the issuance of 3.5 million shares over a five-year period.

The original owners, including a mining company from Mendoza, will retain a 1.5% net smelter returns royalty. The package also includes targets associated with copper porphyries, copper-gold-molybdenum geochemical anomalies, hydrothermal alteration, quartz stockworks, breccias and porphyritic intrusions.

Since August 5, the seven properties have been part of an exploration alliance with BHP Metals Exploration. In an initial stage, BHP will contribute US$3 million and fund a project generation program with at least US$5 million over the first two years. In addition, it may select up to four assets to advance through earn-in agreements.

Kobrea will continue to operate the activities, under the oversight of a management committee with representatives from both companies. Within the portfolio, El Perdido is the project with the most progress: during the 2025-2026 season, six diamond drill holes were completed there, with a cumulative footage of 2,358 meters.

With information from Panorama Minero.