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• Ramadilla

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Introduction

The Ramadilla property is located 650 kilometers north of Santiago and is readily accessible by paved and good gravel road from the city of Copiapó 130 kilometers to the northwest.

Claims & Ownership

The property consists of 88 exploration concessions totaling 25,100 hectares owned 100% by Polar Star.

Property Geology

The Ramadillo property area covers a large north-south elongate faulted monoclinal basin filled with a thick young Miocene-Pliocene sequence of interbedded sandstones, conglomerates, shales, epiclastic sediments, acid tuffs and ignimbrites, showing both oxidized and reduced facies. The acid tuffs and ignimbrites are uraniferous with high backgrounds of 10-20 ppm U. This is a classic South West United States sandstone roll front setting. The oxidized sandstone and conglomerate beds are multiple and occur throughout the basin.

Mineralization

The current showings are in fact uranium and copper bearing hang ups on reduced mud ball clasts within oxidized channel conglomerates and are classic “trails” found up dip from roles. The principle mineralization observed to date is a distinctive yellowish green oxide, possibly a mixture of green copper oxides and coffinite which coats the mud balls and locally impregnates the surrounding sandstone.

Exploration History

There are no records of recent systematic exploration in the property area however limited test mining was carried out in the early 1950’s for copper at the Piadosa showings however, this was abandoned when the first shipments of ore were rejected by ENAMI due to their highly radioactive nature, reportedly grading 0.3% U3O8.

Resource Potential

Exploration on the property is still at to early a stage comment on resources however, a 1953 report prepared for CORFO indicates the Piadosa workings are on a “horizontal manto 600m long with potential for several hundred thousand tones of ore close to surface”.