SITS and Atacama Minerals Inc. Sign Definitive Agreement
On August 26th SITS announced that it and Atacama Minerals, Inc. signed a definitive agreement, whereby SITS will own a thirty percent (30%) interest in Atacama Minerals, Inc.
Mr. Daniel Miroli, Chief Operating Officer of Atacama Minerals and its wholly owned Chilean subsidiary, Minera Los Apires SpA, said,
“We are 100% owners of the Flamenco Gold Mining project located in the world-renowned Atacama Desert Fault, regional home of several major gold and copper mining operations and exploration projects. Our mineral leasehold is 1830 hectares, approximately 4500 acres.”
The Flamenco Project is located in the coastal Chilean mountain range some 15 kilometers from the ocean, surrounded by a number of world-class mining operations. Twenty kilometers to the East is Mantoverde Mine, a major copper-gold mining operation in the process of a billion-dollar production and processing expansion plan. South and West next of the Flamenco project, is El Zorro, a large exploration project headed by Tesoro Resources which is an Australian public company. They recently announced an initial maiden gold resource estimate of 660 kilo ounces representing a dollar value of around $1.15 billion. These estimate results only represent less than 1/3 of the 60,000-meter drilling campaigns completed.
The announcement by Tesoro Resources is a confirmation of Flamenco’s own geological study findings and results since both projects are in the same mineralized geological structural body.
Further information concerning the Mantoverde Mine can be found here:
Further information concerning the Tesoro Resources El Zorro Project can be found here:
Letter of Intent To Acquire 30% Ownership Interest in Atacama Minerals, Inc. Signed
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Palm Desert, California , July 22, 2021 (GLOBE NEWSWIRE) — Southern ITS International, Inc. (OTC Pink: SITS) announced today that it has entered into a Letter of Intent with Atacama Minerals, Inc., to acquire a Thirty percent ownership interest in the Wyoming-based company with plans to engage in the mining of gold in the Atacama Desert region of northern Chile.
James Shipley, CEO of Southern ITS International, Inc., commented,
“We are excited at the prospect of our investment in Atacama Minerals and look forward to finalizing the stock for stock transaction. With Atacama Minerals being the owner of mining rights in this mineral-rich region of Chile, we look forward to assisting them with their capital needs for their exploratory drilling operations and, hopefully, long-term production, depending upon the results of the exploratory drilling. With the Atacama Desert region being renown for its vast gold, copper, and other mineral deposits, we are hopeful for positive results.”
Mr. Shipley added,
“The closing of this transaction is subject to due diligence by both parties and the entering into of a definitive agreement. We expect to consummate the transaction during the current quarter. When completed, this acquisition will be one of the first of many which we hope will be defined by our goal of seeking companies with excellent growth potential.”
About Southern ITS International, Inc.
Southern ITS International, Inc. intends to own and/or control a portfolio of highly- successful businesses and will focus on a being a multi-national conglomerate. As a holding company, Southern ITS International will be in the market to acquire a stake in various companies both public and private. It will also focus on building a direct sales network of various e-commerce internet applications, manufacturing, and internet sales of various products.
We will build an experienced management team that will build a diverse portfolio, buying entire companies, or interests therein, involved in technology, oil and gas, manufacturing, real estate, and other sectors, which will then become operating subsidiaries of Southern ITS International.
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