ATERRA Metals Inc. has commenced the preparation of a maiden independent Mineral Resource Estimate (MRE) for its Totora copper-gold project in Chile. The company has engaged SRK Consulting (Chile) SpA to deliver the estimate, which will define the project's initial mineral inventory and serve as a technical foundation for future economic studies.

The MRE will be prepared in accordance with National Instrument 43-101 standards and will synthesize data from ATERRA’s recently completed Phase I drill program with historical drilling conducted on the property. The scope of the estimate covers the project’s three principal copper-gold porphyry systems: Frontera, Totora, and Clinton. These targets currently represent the most advanced exploration areas within the project.

The integration of data will include specific results from the Phase I program, such as the Frontera intercept of 284 metres grading 0.64% copper equivalent, which featured a higher-grade core of 180 metres at 0.71% copper equivalent. Another notable result from the Totora target included 194 metres grading 0.41% copper equivalent from 254 metres downhole.

“Our objective is to establish the first independently verified mineral resource at Totora by integrating the results from a number of historical drill programs with our successful Phase I drilling. A maiden resource will provide investors with the first quantitative assessment of the scale of the Project and guide ATERRA's future exploration and development plans. This work marks an important step toward unlocking the value of the Totora Project.”

— Carl Hansen, Chief Executive Officer

To facilitate the calculation of copper equivalent grades, ATERRA has adopted specific technical assumptions. The company is using a copper price of US$4.00 per pound and a gold price of US$3,500 per ounce. Given that no metallurgical testwork has been completed to date, the company has applied estimated recovery rates of 85% for both copper and gold. ATERRA has cautioned that actual metallurgical recoveries will likely vary from these estimates.

The company anticipates that the maiden Mineral Resource Estimate will be available for release in September 2026. The technical data supporting this work has been reviewed and approved by ATERRA’s chief geologist, Francisco Bravo, who serves as the project’s Qualified Person.

Read the full announcement: ATERRA Metals Commences Preparation of Maiden Mineral Resource Estimate for the Totora Cu/Au Project