UK giant Antofagasta has confirmed its interest in Diatreme Resources Limited’s Clermont Copper Project in central Queensland, signing the farm-in terms under which it has the option to invest up to US$8 million over four years.

“Diatreme first discovered a zone of copper, gold, silver and molybdenum porphyry-style mineralisation in the highly prospective Rosevale Porphyry Corridor in 2008,” Diatreme executive chairman Tony Fawdon said.

“This commitment by a major international miner confirms our belief in the area’s significant potential, particularly in the central tenement areas, for the discovery of large-scale porphyry mineralisation.”

Initial reverse circulation drilling has now commenced over the Rosevale Project and is to be followed by deep diamond drilling in the quest for discovery of large-scale porphyry copper mineralisation.

The drilling is expected to take up to eight weeks to complete, with mineral analytical results becoming progressively available over a longer period.