Condoto Platinum Project
The Condoto Project is located in the historical platinum and gold production Choco region of Colombia. There is extensive historical data available with a potential for discovery of hard rock source for alluvial PGM’s and gold.
Choco, Colombia, is a known platinum district and historically was the world’s only source of platinum until 1820. Prior to WW2 Colombia was a major producer of platinum, ranked first in the world between 1917 and 1923.
Extensive mapping by the German government in the early 1990’s identified a series of zoned ultramafic intrusions as a possible source of alluvial platinum. The drill-ready targets were abandoned due to past political instability.
The current average reported alluvial production is over 1,000kg platinum per year – USGS. Condoto vendors have extensive experience with alluvial and hard rock PGM and gold mineralisation.
Condoto Platinum holds 14,000 hectares (140km2) of concessions in Choco with additional applications to be granted.
Colombia is politically stable with a favourable mining environment. The government is pro-business and pro-foreign investment. It has a modern and incentive structured Mining Act. There is active international mining company presence in the country, including BHP, Xstrata, Anglo American and Anglo Gold and there foundation for economic growth.
Bailey's 3 Stage Exploration Strategy
- Define alluvial accumulations of both PGM’s and gold.
- Commence alluvial mining operations.
- Explore known layered ultramafic complexes as the source of the PGM’s and gold.