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Polaris

Project

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Unlocking the Gold Potential in the Prospective Antofagasta Region of Northern Chile’s Coastal Mountain Range.

POLARIS PROJECT

The Polaris Project is Halcones’ flagship gold exploration property, located in Chile’s prolific Antofagasta Region. Spanning 5,777.5 hectares, the project lies within the Coastal Mountain Range, a globally recognized metallogenic belt renowned for hosting world-class mineral deposits. The property comprises 23 exploration concessions and 2 exploitation concessions, strategically positioned near essential infrastructure such as ports, roads, and power lines. 17 former artisanal, high-grade operations have been identified on the Project or in the immediate vicinity tracing back over the last 100 years with no modern exploration performed. Early-stage exploration has identified significant gold mineralization in quartz stockwork veins within dioritic and quartz dioritic host rocks, indicating strong potential for open-pit mining. With its prime location and geological characteristics, the Polaris Project represents a cornerstone asset for Halcones as we advance its exploration and development objectives.

Geology and Mineralization

  • Geological Setting: Situated within the Coastal Mountain Range and Atacama Fault Zone, known for hosting world-class mineral deposits.
  • Host Rocks: Mineralization associated with quartz stockwork veins in diorites and quartz diorites of the Paranal Plutonic Complex.
  • Alteration Patterns: Strong argillic and chloritic alteration observed, indicating potential for gold systems.
  • Mineralization Style: Gold occurs in quartz veins and stockwork, with native gold, pyrite, and minor copper oxides present.
  • Exploration Upside: Geochemical sampling has identified zones with high gold grades near the surface, ideal for open-pit exploration.

Location and Accessibility

  • Strategic Position: Located 150 km south of Antofagasta City, a major mining hub in Chile.
  • Access: Well-connected by the Pan-American Highway, provincial roads, and gravel tracks.
  • Infrastructure Support: Close to industrial ports in Antofagasta and Mejillones, power lines, and water supply points in nearby towns.
  • Altitude: Moderate elevation of ~1,660 meters, enabling year-round road and exploration access
  • Mining-Friendly Jurisdiction: Chile’s Antofagasta Region is a globally recognized mining district with favorable policies and skilled labor.

Exploration and Historical Context

  • Early History: Artisanal mining activities in the early 20th century focused on high-grade quartz veins.
  • Recent Exploration: 350 Initial surface sampling and geophysical surveys conducted by Austral Exploraciones in 2022-2023 with grades reaching up to 55 g/t gold
  • Halcones' Work: Field reconnaissance and geochemical sampling by Halcones confirmed significant gold mineralization.
  • Historical Agreements: Previously under exclusivity discussions with Newmont, showcasing its exploration appeal.
  • Future Plans: Drilling program of 2,000 meters planned to test mineralization at depth and delineate resource potential.

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