Don Gregorio


Alta Copper Corp. has 100% interest in the Don Gregorio property which is a copper-gold porphyry target located in northern Peru 140 km NNE of Chiclayo in the department of Cajamarca. The property consists of one mineral claim totaling 900 hectares. The property is located approximately 40 km north of Alta Copper`s Cañariaco Norte Project. The Don Gregorio property is one of the projects held the Company’s wholly owned subsidiary, Cobriza Metals Peru S.A. (“Cobriza”).

The Company entered into an Option Agreement on the Don Gregorio project with Forte Copper in 2017. In November 2020, the two companies entered into an Assignment Agreement which allows Forte Copper to move ahead with applications for drilling permits. Under the Assignment and Option Agreements, Forte Copper has the right to earn a 60% interest in the Don Gregorio property by completing the following terms:

  • Making payments of US$500,000 to Alta; and
  • Drilling 10,000 metres within three years of receiving drilling permits of which 5,000 metres must be drilled within two years; Forte Copper may pay $100/metre cash in lieu of metres not drilled.

The term of the Assignment Agreement is for 5 years; if the 10,000 metres have not been drilled (including cash paid in lieu) by November 2025, then the property must be returned to Alta Copper. To date, the Company has received payments totalling: US$100,000 and reimbursements for fees for annual mineral rights totalling US$95,796.52.