BHP completed a preliminary assessment of the 172,800ha hectares of exploration land held by Polar Star.
The mining major will earn a 51% share in each block by investing $3.5m into each block in the selected 130,900ha exploration area over 30 months, beginning 13 August.
Polar Star president and CEO Colin Bird said stated: "We are pleased that BHP Billiton have elected to continue with the majority of the projects and the diligent manner in which they have carried out their initial work program."
The Properties are, in general, situated south of Polar Star’s wholly-owned Montezuma Property along approximately 360km of the Domeyko Fault System in Northern Chile, commonly referred to as the Mega Porphyry Belt.
This regional fault system also hosts the Chuquicamata and Escondida mines.
