en.Wedoany.com Reported - Gelum Resources Ltd. (GMR:TSX; GMRCF:OTCQB) is a Canadian company focused on the exploration of gold projects in the Americas. Its flagship project, Las Tinajas, located in the Maricunga Gold Belt of Chile, is undergoing systematic exploration. Covering 2,600 hectares at the northern end of the gold belt, the area is known for gold-copper porphyry mineralization systems and has potential for open-pit mining scale.
The company recently signed an option agreement to acquire a 100% interest in the project and completed due diligence within the past 60 days. Concurrently, the company has relisted on the U.S. capital market.
The exploration target for the Las Tinajas project is a large epithermal gold deposit within the Maricunga Gold Belt in northern Chile, with mineralization associated with porphyry intrusions and breccia pipes. Since 1986, a total of 64 drill holes have been completed in the area, totaling 10,990 meters, including 16 holes (2,831 meters) drilled between 2024 and 2025. Multiple historical drill holes reported gold grades greater than 1 g/t, with some holes still showing mineralization at the end of the hole. To date, only a small portion of the property has been drilled, indicating significant expansion potential for the known breccia pipe-related mineralization zones.
The project is located in the Atacama region of northern Chile, approximately 120 kilometers northeast of Copiapó, at the northern end of the Maricunga Gold Belt. The Maricunga Gold Belt is Chile's largest gold belt, extending 200 kilometers and containing porphyry and high-sulfidation deposits, with a total potential resource of 103 million ounces. The claim area ranges in elevation from 3,600 to 4,000 meters and is accessible via mine roads maintained by Codelco. The asset is entirely surrounded by the Nuevo Cobre project, a joint venture between mining giants Codelco and Rio Tinto Group, which is focused on searching for porphyry copper-gold deposits beneath the epithermal gold deposits in the area.
Readers are cautioned that the description of historical drilling results reported herein should primarily serve as a reference for exploration drilling. The Qualified Person for this news release has not done sufficient work to independently verify the aforementioned historical sampling results.
Gelum completed project reconnaissance mapping and rock geochemical sampling in May, with results confirming that Las Tinajas may be a large gold mineralization system with potential for large-scale open-pit mining. In April 2026, the company's team conducted a seven-day field operation to verify drill hole collars, re-examine some core, and collect rock geochemical samples. At the end of June, the company commissioned Southern Rock Geophysics to begin MT (Magnetotelluric) and VIP (Resistivity Imaging) surveys in mid-July, aimed at generating resistivity maps to depths of 3,000 meters and 800 meters. Southern Rock was selected for its over 30 years of experience, having completed more than 200 VIP/MT surveys, possessing local Chilean expertise, and utilizing high-resolution 32-bit gDAS32 technology. The first phase of the survey covers the entire area, targeting the regional porphyry copper-gold system; the second phase plans 10 line-kilometers of detailed PDIP/EMAP surveys targeting extensions of the known gold-mineralized breccia pipes.
Subsequent drilling aims to complete the first NI 43-101 resource estimate, with an expected target of 2 to 3 million ounces of gold, or to search for an underlying porphyry copper system. Priority drilling targets include the northwest and northeast extensions of the silicified sulfide-bearing breccia pipes, with secondary targets being blind mineralized horizontal ore bodies in sedimentary rock host rocks. Preliminary metallurgical testing will also be conducted to determine recovery rates. In early May this year, the company's common shares were approved for re-trading on the OTCQB Venture Market under the ticker symbol GMRCF. The company has approximately 33.6 million shares issued and outstanding.
Investor risks include: exploration risk, as historical data requires verification and drilling may not encounter the expected high-grade extensions or deep porphyry systems; regulatory and environmental risks, as operations at high altitude in the Maricunga Gold Belt face stringent permitting hurdles and potential water use conflicts with local communities; financial risk, as a pre-resource stage exploration company, the company relies on equity financing, exposing shareholders to dilution and capital market volatility; technical risk, as extensive post-mineral volcanic cover (accounting for 40% of the claim area) obscures targets, increasing uncertainty in geophysical interpretation. Before making any investment decisions, investors should consult appropriately licensed, experienced, and qualified investment advisors and seek multiple opinions.
