20 Aug 2010 07:00
Metminco Limited (LSE: MNC)
("the Company")
Metminco Shareholders
20 August 2010
Metminco Increases Interest in Hampton from 71.9% to 72.3%
Metminco Limited (Metminco), the ASX and AIM listed mining exploration company with assets in Chile and Peru, is pleased to announce that it has increased its interest in Hampton Mining Limited (Hampton) from 71.9% to 72.3%. Metminco accepted its full entitlement in accordance with a Hampton pro rata rights offer dated 26 July 2010 and was allotted 3,509,339 fully paid ordinary Hampton shares for a total cost of A$982,615.
Hampton's premier project is the Los Calatos copper and molybdenum porphyry deposit located in southern Peru, near and in a similar geological setting to three large existing copper-molybdenum porphyry mines. At Los Calatos, Hampton has recently announced estimated JORC compliant resources (at a 0.2% copper cut-off grade) of 926 million tonnes, made up of Indicated Resources of 111 million tonnes at 0.39% Cu and 380ppm Mo and Inferred Resources of 815 million tonnes at 0.37% Cu and 260ppm Mo.
Hampton's other advanced projects are the Mollacas copper leach project and the Vallecillo gold-zinc project. Both these projects are located in Chile, approximately 500km north of Santiago.
For further information contact:
Metminco Limited Tel: +61 (0) 407 524 235
John Fillmore
Daniel Stewart & Company plc Tel: 020 7776 6550
Oliver Rigby
Buchanan Communications Tel: 020 7466 5000
Tim Thompson / James Strong /
Katharine Sutton