Capstone Copper has finalized the purchase of the San Pietro project located in the Atacama Region of Chile. This acquisition adds 16,000 hectares of land and a 492 million tonne Inferred Mineral Resource to the company's existing Chilean holdings.
The 492 Million Tonne Resource at San Pietro
The San Pietro project, which includes the Rincones and Colla deposits, brings a significant volume of raw material into the Capstone Copper portfolio. According to the report, the project hosts an NI 43-101 compliant Inferred Mineral Resource of 492 mlilion tonnes, with grades of 0.23 percent copper and 0.05 grams per tonne of gold.
This resource is split between 83 million tonnes of oxide material and 410 million tonnes of sulphide material. These figures were calculated using a 0.3 percent cut-off grade and a US$4.80 per pound pit shell, based on a technical report dated January 24, 2025. While the volume is immense, Capstone Copper notes that these inferred resources have not yet demonstrated economic viability.
A 1.6 Billion Tonne Hub in the Atacama Region
The acquisition of San Pietro is not an isolated bet but part of a broader strategy to dominate a specific corridor in Chile. By securing this land, Capstone Copper has created a contiguous footprint that links its Mantoverde, Santo Domingo, and Sierra Norte properties. This consolidation allows the company to leverage shared infrastructure and geological data across a massive district.
Within a twenty-kilometre radius of this hub,Capstone Copper now controls approximately 1.6 billion tonnes of Measured and Indicated Mineral Resources (including reserves) and roughly 1.4 billion tonnes of Inferred Mineral Resources. This aggressive expansin follows the 2024 acquisition of Sierra Norte and a 2025 exploration option agreement with the Empresa Nacional de Minería (ENAMI), signaling a concerted effort to lock down the Atacama's premier copper jurisdictions.
The Golden Arrow Resources and Sociedad de Servicios Andinos Exit
The transaction was executed through New Golden Exploration Chile SpA, a joint venture that previously held the rights to the San Pietro project. As reported, the joint venture was owned by Golden Arrow Resources Corp., which held a 75.019 percent interest, and Sociedad de Servicios Andinos SPA, which held the remaining 24.981 percent.
Cashel Meagher, the President and CEO of Capstone Copper, described the move as a "natural fit" due to the company's existing permitted infrastructure and deep familiarity with the local geology. By absorbing the assets of Golden Arrow Resources and its partner, Capstone Copper aims to utilize its experienced project development team to unlock production growth that smaller joint ventures might lack the capital to realize.
The Search for Higher-Grade Zones within the 0.23% Copper Base
Despite the massive scale of the acquisition, a critical question remains regarding the actual profitability of the San Pietro deposits. The current average grade of 0.23 percent copper is relatively low, leading Capstone Copper to initiate a recommended exploration program specifically designed to find higher-grade portions within the existing footprint.
The company believes that identifying these high-grade zones will provide essential oxide and sulphide feed for its district processing facilities. However, the source does not disclose the final purchase price paid to New Golden Exploration Chile SpA, nor does it provide a timeline for when the San Pietro resources might be upgraded from "inferred" to "measured" or "indicated" status.
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