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Phelps Dodge Corporation exploration is focused on large-scale copper and copper + gold deposits in the four principal copper-producing regions of the world: southwest North America, South American Cordillera, Central Africa, and Australia, as well as in other highly prospective areas.

Phelps Dodge Corporation   PD   (NYSE)

Marty Wiggins is in charge of the Mexican exploration program which now largely runs out of Tucson with a "field office" still kept in Hermosillo.

Piedras Verdes Cu-oxide property, Sonora. Purchased a 70% interest in property from AZCO as part of $40 million Sanchez Cu (Arizona) acquisition deal in December, 1995. During 1996 the 70/30 PD/AZCO JV Cobre del Mayo S.A. de C.V. drilled 16,686 m of core in 58 diamond holes on 5 fences spaced 600m apart. Ten of these were "twins" which confirmed previous RC holes to within 6% in terms of both grade and thickness. Six column-leach tests showed 80% recoveries. Initiating a $4.8 million budget to carry project forward. Purchased adjacent 1,351 ha property from Alamos Minerals. This area includes the El Tabelo Zone which yielded an intercept of 33m of 6.5% Cu including 9m of 19.5% Cu. Four other holes cut similar intercepts.

NMN v83#6 04/07/97
LAMR April, 1997

Suaqui Grande Cu porphyry project, Sonora. Optioned from AZCO. Agreed to form an AZCO/PD JV to explore this property. (Subsequently drilled by Intrepid/BHP-Billiton)

Cerro Verde, Sonora. Optioned from Corner Bay Minerals where a successful 7-hole program in 1996 hit intercepts which included 196m @ 0.34% Cu which contained a 68m interval @ 0.61% Cu as well as 1.7 grams Au over 28m. More work planned for 1997 including the acquisition of more property. Three separate deals stitched together an additional 4 sq km contiguous with and NE of the jointly held property.

NMN 3/10/97

Once upon a time they had the Santa Gertrudis sediment-hosted Au district in northern Sonora, but they sold it outright to Campbell Resources (CCH-TSE, MSE, NYSE) and wrote down a big loss. (Note Campbell has subsequently vended it to Queenstake)

Long time ago they also had an option to earn 55% interest in Las Vigas Cu-oxide deposit in Chihuahua from Corner Bay Minerals and which was drilled in August, 1996 and results fell short of expectations. (Apparently PD bailed on this puppy dog because it has bounced back to Corner Bay).

NMN v82 #40 12/02/96
NMN 8/19/96
NMN v82#19 07/08/96
LAMR v3, #7 July 96
NMN v82 #9 04/29/96

CyprusAmax Minerals (Now Phelps Dodge)

Was purchased/merged with Phelps Dodge Corporation in 1999. 

Through Mexican subsidiary Minera Cuicuilco S.A. de C.V. they recently JV'ed exploration around the Milpillas deep oxide-Cu deposit near Cananea with Medallion Resources Ltd. Note that the already discovered Milpillas deposit once controlled 100% by Cuicuilco was never part of the exploration JV. Incidentally the Milpillas deposit was sold outright to Penoles in 1Q99. 

El Morrow, Zacatecas. CyprusAmax can earn up to a 75% interest from diadem resources Ltd. by spending $3.9M on payments and exploration over a 5 year period. 


NMN v85#30, Sep. 20-26, 1999



Bismark Zinc Mine, northern Chihuahua. Held a 40% interest in the with Peņoles holding 40% and Promociones Industriales Banamex the remaining 20%. Production began in late 1992 with an expected mine life of 13-15 years. Severe water problems continue to hamper mine development. 

Bolaņos Ag Mine in Jalisco State about 100 mi N of Guadalajara. Cyprus once had a 49% interest in the property with the Davila family controlling the remaining 51%. It didn't go well. This particular Bolanos includes the famous "El Alacran" orebody. KCC was involved here in the early days. (NOTE: This is different than First Silver Reserve's San Martin de Bolanos Mine which routinely cranks out over 2 million ounces of Ag a year.) 


GCN #149 1Aug96
NMN 10/25/93
Annual Reports


Zoquite Ag Project, Zacatecas District, Zacatecas. A 70/30 JV between Medallion and Cyprus-Amax exploring the 7 km eastern extension of the Cantera Vein on the Medallion Property in the Zacatecas District. A 1500m drill program is to start on Jan 8, 1999. Shallow drilling has already intercepted the vein at depth with intercepts of 5.5 m of 84 grams Ag and half-gram Au. Typical Zacatecas District ore grades were around 300 grams Ag. 


GCN #6 11Jan99 (with figures)