- Mining district in Chile has been in sharp decline, hit particularly hard in 2020
- Government supports revitalization, has proposed a series of tax breaks for investors
- GOH drilling program anticipated to begin in January 2021
Formerly known as Altum Resources Corp, GoldHaven Resources (CSE: GOH) (OTCQB: ATUMF) is a Canadian junior exploration company active in the Maricunga Gold Belt of Northern Chile. The company has entered into agreements to acquire seven promising gold projects. The company’s goal is to identify and capitalize on valuable precious metal projects in mineral-rich districts with stable political jurisdictions.
In April 2020, GoldHaven entered into an agreement to purchase the Rio Loa and the Coya projects. A few months later, in August, GOH entered into an agreement to acquire five potential gold projects in the same region of Northern Chile: the Alicia, Roma, Jacqueline, Valley and Condor projects.
The gold-rich Maricunga Belt, where all seven projects are located, straddles the border of Chile and Argentina. It is approximately 150 kilometers long and 30 kilometers wide. The mining district has seen a sharp decline over the last decade and has been hit particularly hard in 2020.
According to an article in the “Northern Miner” (https://ibn.fm/nvvSj), new projects in the area could bring revitalization to the Chilean economy, which has suffered greatly due to the coronavirus pandemic. The government is supportive of these efforts and wants to see these new jobs created. A series of tax breaks for investors has been proposed that includes instant depreciation of capital investments begun by December 2022 and a tax credit worth 25% of the salary of each new job created.
This government support of mining is not new. The Chilean Economic Development Agency launched an initiative over a decade ago to finance exploration projects in the country. A fund of $150 million was set aside to develop exploration and boost mining prosperity, with an end goal of becoming a world leader in the industry. To do so, the Chilean government began to promote investments that respected the environment, community and local workforce (https://ibn.fm/UM4kx). The government is looking for companies such as GoldHaven to come in and help revitalize the economy.
GOH has identified four of its seven properties (the Rio Loa, Coya, Alicia and Roma projects) as high-priority targets and plans to begin its drilling program in January 2021. These targets were identified through mapping, geochemical sampling, satellite imagery and location relative to existing discoveries.
For more information, visit the company’s website at www.GoldHavenResources.com.
NOTE TO INVESTORS: The latest news and updates relating to ATUMF are available in the company’s newsroom at http://ibn.fm/ATUMF
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