Premier Cobalt Projects in Chile
San Juan District, La Cobaltera
The La Cobaltera Project covers approximately 1,500 hectares, including past producing mines Despreciada, La Negra, and Rosa Amelia. Multiple cobalt ore veins of cobaltite and erythrite are registered with significant thickness and high grades. The San Juan District successfully exploited cobalt for decades, and a common facility ("La Cobaltera") processed ore. Shutdown in 1944 at the end of World War II, the San Juan District was the largest cobalt producing area in Chile. This is not a greenfield project and the project site is widely considered the best potential future site of cobalt exploitation in South America.
The Carrizal Alto Project includes 650 hectares and is located 100 kilometers north of C3's flagship La Cobaltera project site. The project has a significant history of cobalt and copper production as well as mineralogy similar to the San Juan District. With close proximity to the flagship La Cobaltera project, Carrizal Alto allows for a shared plant and processing facility. Over the next two years, the company will perform exploratory and development work to define the complete ore body and bankable cobalt reserve.
Driven by demand for use in superalloys, cobalt mining occurred in Chile from 1844 thru 1944. Mining focused primarily on oxidized secondary ores, mainly cobaltite and erythrite, and ceased at the end of World War II. Historically, cobalt production occurred in the San Juan District and the Tambillos District.
Chile's Corporation for the Promotion of the Production ("CORFO") issued a report in late 2017, indicating the potential to explore cobalt in the Atacama region. Historical production records, geochemical exploration, and geochemical signatures of mineral deposits indicate cobalt potential in the Chilean Iron Belt along the Lower Cretaceous metallogenic belt of the coastal cordillera of the Atacama region.
In early 2018, representatives of Genlith Inc., Chilean Cobalt Corp's parent company, presented to an investor panel hosted by CORFO, Invest Chile, and the Chilean Association of Investment Fund Administrators ("ACAFI"). During this presentation, the Genlith team announced the revitalization and return of cobalt mining to Chile after a 75-year hiatus.