American Mineral Resources (OTC:AMLM) is evaluating a mix of traditional financing, as well as strategic structures, to finance exploration and development of its newly acquired La Grande Plata and Furano projects in Chile.
Speaking to Mining.com.au, President Frank Kristan says the company is actively arranging financing commitments tailored to the stage and scale of each project, with the aim of minimising dilution while maintaining operational momentum.
“These discussions are well advanced, and the company expects to update the market shortly once terms are finalised,” Kristan says.
Earlier this month, American Mineral Resources acquired the two Chilean projects from privately held Aeramentum Resources – which reflects a strategic broadening focus rather than a departure from lithium.
The company notes the move into other critical and industrial metals, particularly silver and copper, is strategic, given current market dynamics and long-term demand fundamentals.
Entering active execution
Kristan says while there have been no material new discoveries since the deal closed, the technical team has been able to refine its understanding of the projects by consolidating historical data, surface sampling, and regional geological context.
“This work has helped prioritise specific target zones and structures that appear most prospective for follow-up drilling,” he tells this news service.
“Importantly, the projects are located in well-understood mineral belts, which gives the company confidence that upcoming drilling will meaningfully expand on known mineralisation rather than starting from a greenfield position.
“More definitive geological insight is expected once drilling begins, which is anticipated within the next six to 12 months.”
Over the next three to six months, American Mineral will focus on advancing the projects from an evaluation and permitting phase into active execution. The activities include finalising drill plans, securing contractors, and completing any remaining regulatory or logistical requirements ahead of drilling.
In parallel, the company expects to provide clear updates on project sequencing, including which assets will be prioritised.
“Success during this period would be defined by being fully positioned to initiate drilling and early-stage mining activities, while also strengthening the balance sheet to support sustained field work,” Kristan notes.
The La Grande Plata Project, covering 1,325 hectares, is a drill-ready asset with 39 permitted drill pads and roads constructed. The company plans to undertake a 2,000m drilling program.
Meanwhile, the Furano Project covers 9,000 hectares of exploration licences and is drill-ready with plans for a 1,500 to 2,000m program planned this year following induced polarisation surveys.
American Mineral Resources is a diversified mineral explorer focused on consolidating mining assets and innovating through blockchain technology.
Write to Aaliyah Rogan at Mining.com.au
Images: American Mineral Resources
