El Indio Gold Belt
Encyclopedia
The El Indio Gold Belt is a mineral rich region spanning the border between Chile and Argentina that contains large quantities of gold, silver and copper. On both sides of the border the belt is located within the Andes
.
The El Indio mine within the district was the first mine in Chile to produce gold as its main product. In Chile the main precious metal containing mineral is enargite
. The El Indio belt is bordered in the north by another gold-silver mining district known as the Frontera District. Rodalquilarite, alunite
and poughit are some of the minerals present in the area. It formed during the Late Miocene
period.
The world's largest gold miner Barrick Gold
used to be the only foreign company heavily invested in the region however more recently a number of other companes have begun exploratory activity.
of a volcanic caldera. In 1981 Compania Minera El Indio was the first company to exploit the area's mineral resource.
Chile's portion of the belt consisted of 3 major mines; El Indio, Pascua Lama, and Tambo (since 1995). Gold reserves in the belt located within Argentina could be as high as 40 million ounces.
One of the largest mines in the belt, the Tambo Mine operated by Barrick Gold, closed in 2001 after unsuccessful attempts by the company to replace reserves. The mine, with a design capacity of 200,000 ounces a year was deplete of gold by 1999-2001.
Andes
The Andes is the world's longest continental mountain range. It is a continual range of highlands along the western coast of South America. This range is about long, about to wide , and of an average height of about .Along its length, the Andes is split into several ranges, which are separated...
.
The El Indio mine within the district was the first mine in Chile to produce gold as its main product. In Chile the main precious metal containing mineral is enargite
Enargite
Enargite is a copper arsenic sulfosalt mineral with formula: Cu3AsS4. It takes its name from the Greek word enarge, "distinct." Enargite is a steel gray, blackish gray, to violet black mineral with metallic luster. It forms slender orthorhombic prisms as well as massive aggregates...
. The El Indio belt is bordered in the north by another gold-silver mining district known as the Frontera District. Rodalquilarite, alunite
Alunite
Alunite is a sulfate mineral that was first observed in the 15th century in Monti della Tolfa, north of Rome, where it was mined for the manufacture of alum. First called aluminilite by J.C. Delamétherie in 1797, this name was contracted by François Beudant in 1824 to alunite.Distinct crystals of...
and poughit are some of the minerals present in the area. It formed during the Late Miocene
Late Miocene
The Late Miocene is a sub-epoch of the Miocene Epoch made up of two stages. The Tortonian and Messinian stages comprise the Late Miocene sub-epoch....
period.
The world's largest gold miner Barrick Gold
Barrick Gold
Barrick Gold Corporation is the largest pure gold mining company in the world, with its headquarters in Toronto, Ontario, Canada; and four regional business units located in Australia, Africa, North America and South America...
used to be the only foreign company heavily invested in the region however more recently a number of other companes have begun exploratory activity.
History
In Chile the district was first officially recognized in 1975 and operated in 1979. El Indio, the main mine in the area was purchased by Barrick Chile in 1994; that mine is associated with a hydrothermal systemHydrothermal vent
A hydrothermal vent is a fissure in a planet's surface from which geothermally heated water issues. Hydrothermal vents are commonly found near volcanically active places, areas where tectonic plates are moving apart, ocean basins, and hotspots. Hydrothermal vents exist because the earth is both...
of a volcanic caldera. In 1981 Compania Minera El Indio was the first company to exploit the area's mineral resource.
Chile's portion of the belt consisted of 3 major mines; El Indio, Pascua Lama, and Tambo (since 1995). Gold reserves in the belt located within Argentina could be as high as 40 million ounces.
One of the largest mines in the belt, the Tambo Mine operated by Barrick Gold, closed in 2001 after unsuccessful attempts by the company to replace reserves. The mine, with a design capacity of 200,000 ounces a year was deplete of gold by 1999-2001.
Companies with interests in the region
- Malbex () - Mid micro cap company that operates 3 projects 2 near the Valadero and Pascua-Lama mines (Arroyo de Los Amarillos and Los Despoblados). The largest is the Del Carmen gold-silver project on the Argentine side of the belt (south end).
- Barrick GoldBarrick GoldBarrick Gold Corporation is the largest pure gold mining company in the world, with its headquarters in Toronto, Ontario, Canada; and four regional business units located in Australia, Africa, North America and South America...
- Owns the Valadero and Pascua LamaPascua LamaPascua-Lama is an open pit mining project of gold, silver, copper and other minerals. Pascua Lama is located in the Andes mountains, south of Atacama, straddling the border between Chile and Argentina at an altitude of over 4,500 metres. Toronto-based Barrick Gold, the world's largest gold mining...
deposits (over 17.5 million ounces of gold at Pascua Lama). It is also engaged in exploration activity in Chile. Has operated in the region since 1994. - Silver WheatonSilver WheatonSilver Wheaton is a pure play silver mining company, the largest in the business of silver streaming. It produces over 23 million ounces and sells over 20 million ounces of silver mined by other companies as a by product...
- has an agreement with Barrick Gold to purchase 25% of the silver mined at Pascua LamaPascua LamaPascua-Lama is an open pit mining project of gold, silver, copper and other minerals. Pascua Lama is located in the Andes mountains, south of Atacama, straddling the border between Chile and Argentina at an altitude of over 4,500 metres. Toronto-based Barrick Gold, the world's largest gold mining...
between 2013 and 2017. - ATW Gold Corp. () - Borderline nano cap Australian mining company that oversees the Amarillo project in San Juan Province (Argentina)San Juan Province (Argentina)San Juan is a province of Argentina, located in the western part of the country. Neighbouring provinces are, moving clockwise from the north, La Rioja, San Luis and Mendoza. It borders with Chile at the west....
. - Yamana Gold - Explores east of the Los Amarillos concessions. Yamana signed 4 gold exploration agreements in Region de Coquimbo, Chile in 1996 (13,200 hectares of land).
- MegaMoly Inc. () - Has interests through the Amarillo property in San Juan, Argentina (7,200 hectares on the Argentine side of the Andes). Primarily in the business of Molybdenum and Tungsten exploration (in Slovakia), it is part of Terreno Resources Corp.
- NGEx Resources Inc. () - Small cap (over $100 million) Vancouver based company with copper containing assets in central Chile. Owns 100% of Colmillos and Andrea copper projects.
- Royal GoldRoyal GoldRoyal Gold is a precious metals company with royalty claims on gold, silver, copper, lead and zinc at mines in over 20 countries...
- Royalty company with a 3% to 5% claim on Barrick Gold's Pascua Lama mine.