Celeste Copper Corporation plans to divest its remaining Chilean claims to focus on the development of its South Crofty mine in Cornwall UK.

The tin and copper miner as it realizes its main focus on its UK operations is planning to rid itself of the claims in Chile either on JV basis or through an outright sale.

The Celeste IV to X claims in Chile are located 70 kilometers southeast of Copiapo, Chile. They cover mining concessions totaling an area of 24 square kilometers.

The Candeleria IOCG deposit with reported reserves of roughly 400 million tonnes is located around 40 kilometers from the property on the other side of the Cabeza De Vaca intrusion.

Celeste said that the Chilean property is a non material component of the company with nearly 100 per cent of management time and efforts being spent on its South Crofty, England property.

As divulged earlier this month, the company will shortly be filing the updated NI 43-101 compliant estimate for the Dolcoath section of the South Crofty project. The estimate holds an inferred resource of 2.47 million tonnes grading 0.46% tin, 0.54% copper and 0.23% zinc.

The property is also projected to hold an exploration target of between 6.7 and 13.5 million tonnes with grades ranging between 1.4% and 1.8% tin in an area east of the Great Crosscourse within the South Crofty mine.

In addition, there is another exploration target estimated of between 1.25 and 2.5 million tonnes with grades ranging between 1.25 and 1.6% tin in the Dolcoath deep and Roskear areas of the property.

The estimate, prepared by Micromine Consulting Services includes all project exploration drill hole and channel sampling data from work completed from 2008 to February 2012.

Source - Proactive Investors

(www.steelguru.com)