Chala Metals Announcement

Iron & Copper Projects - Chala Metals

Chala Metals Limited is pleased to announce that it has appointed Bishop Collins, chartered accountants of Tuggerah NSW to provide a range of bookkeeping, accounting and administration support services to the company. Also, our subsidiary Achatayhua Metals Peru has now received full Government approvals to undertake further exploration including 40 drill holes and an access road to the drilling platforms. Negotiations are now close to a positive conclusion with local farmers who are asking payment for access to both the Achatayhua and Crucero projects. We are hopeful to have both agreements concluded in the coming weeks. In the meantime, CML has commenced confidential  discussions on potential IOCG deposits in Chile. The details will be provided to shareholders once an initial agreement has been reached. The Board believes that Chilean projects, in the Northern deserts, will not be subject to claims, albeit without substance in law, from local people living and farming in the broad vicinity.  This is a common phenonemon in Peru and whilst it can be resolved with a modest access payment, it can result in long delays, as has been the case in 2021 with Achatayhua. So some prospective concessions in Chile, without this issue, can provide a nice hedge for CML shareholders. We look forward to providing some promising news from both Peru and Chile over the following months. 

Mark Newton

Executive Chairman & CEO