Porphyry Copper Discovery Beneath the Valeriano Lithocap, Chile

ABSTRACT Exploration for porphyry copper deposits beneath barren or poorly mineralized, advanced argillic lithocaps is becoming common­place; however, there have been few discoveries except in cases where the copper ± gold ± molybdenum mineralization has been partly exposed, typically as a result of partial lithocap erosion. At Valeriano, in the high Andes of northern Chile, completely concealed Miocene porphyry copper-gold mineralization was recently discovered beneath a lithocap. Here, the results of the staged drilling program that led to the discovery are summarized, with emphasis on the key geologic, alteration, and mineralization features that provided guidance. The final deep drill holes of the 16-hole program cut well-defined advanced argillic and sericitic alteration zones before entering chalcopyrite ± bornite–bearing, potassic-altered porphyry, with grades of 0.7 to 1.2% Cu equiv, at depths of ~1,000 to >1,800 m.