SBN will have shares in the following: The Quince Iron Ore Project is an identified iron (Fe) resource located near a deep-water port on the Coast of Chile.
The mining concessions that make up the Quince Iron Ore Project, covering an area of 1,140 hectars (2,817 acres), were originally established by Asarco Exploration Company-Chile. These concessions were taken up as a result of a systematic search along the Atacama fault in the Salado District of Chile for iron associated copper deposits. The claims were relinquished by Asarco after extensive and intensive work, which indicated iron rather than copper potential. Currently, these properties are privately held. The Quince Iron Ore Project is the northernmost iron deposit in the prolific Chilean Iron Belt and has the potential to become a world class iron producer.
The deposit is located in rolling terrain at an elevation of 800 meters approximately 40 kilometers from deep water, bulk loading port facilities. The ore body itself is covered by recent, unconsolidated gravels with depths of up to 100 meters. The available infrastructure is excellent with major highways, utilities, and labor sources located within 20 kilometers of the properties. The environmental impact caused by mining operations would be minimal.
SBN Price at posting:
0.2¢ Sentiment: None Disclosure: Held
