St Francis hits Bolivia

THE current focus for Perth-based St Francis Mining NL is Bolivia, where it has acquired 60 per cent equity in the Chacarilla project.

High-grade copper samples from the prospect have been collected from more than 30 kilometres along a mineralised corridor about 35km long and 2km wide. This trend hosts some old copper workings.

Reports put the copper resource at 18.9 million tonnes at a grade of 2.44 per cent copper.

Independent consultant Terence Willstead & Associates Pty Ltd has valued the project at between US$14 million and US$35 million, with a most likely project value of US$25 million.

The company has reestablished a camp at the mine site and an office in the city of La Paz, and is negotiating with United States parties interested in assisting with raising funds for the project.