Gelum Resources in the Heart of Nuevo Cobre District as JV Advances Porphyry Targets

Important Disclosures:

1. Gelum Resources Ltd. is a billboard sponsor of Streetwise Reports. The company pays a monthly sponsorship fee of US$3,000–US$6,000 for banner advertising and an enhanced company profile page. Streetwise Reports’ editorial content is fully independent and is not influenced by sponsorship. 
2. As of the date of this article, officers, contractors, shareholders, and/or employees of Streetwise Reports LLC (including members of their household) own securities of Gelum Resources Ltd. 
3. Cori Fisher wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an employee. 
4. This article does not constitute investment advice and is not a solicitation for any investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Each reader is encouraged to consult with his or her personal financial adviser and perform their own comprehensive investment research. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company. 

For additional disclosures, please click here.

1. Disclosure for the quote from the Stewart Thomson article published on July 6, 2026

1. For this article, Gelum Resources Ltd. has paid Street Smart, an affiliate of Streetwise Reports, US$3,500
2. Author Certification and Compensation: Stewart Thomson was retained and compensated as an independent contractor by Street Smart for writing this article. Mr. Thomson is a retired Canadian financial advisor who has passed the Canadian Securities Course as well as additional technical analysis courses that were mandated by his former employer and approved by Ontario regulatory bodies. For the past 15 years, he has been editing and writing numerous financial newsletters that have a strong focus on charts.  The recommendations and opinions expressed in this content reflect the personal, independent, and objective views of the author regarding any and all of the companies discussed. No part of the compensation received by the author was, is, or will be directly or indirectly tied to the specific recommendations or views expressed.

2. Ownership and Share Structure Information

The information listed above was updated on the date this article was published and was compiled from information from the company and various other data providers.

Gelum Resources Ltd. (GMR:CSE; GMRCF:OTCQB) may earn a 100% interest in the 2,600-hectare Las Tinajas Gold Project at the northern end of Chile's Maricunga Belt, encircled by the Codelco and Rio Tinto Plc. (RIO:NYSE; RIO:LSE) Nuevo Cobre joint venture that is exploring for porphyry copper-gold beneath the area's epithermal gold deposits.

Key Investor Takeaways

• Gelum may earn a 100% interest in the Las Tinajas project, which is completely surrounded by the Codelco-Rio Tinto Nuevo Cobre JV land package, placing it in the center of district-scale porphyry exploration.
• Gelum completed a 403-sample rock geochemical program in July 2026. In an August update, the company reported expanded exploration targets and additional areas where gold and/or copper mineralization may occur beneath thin post-mineral cover.
• The VIP-MT geophysical survey, half complete by August 2026, aims to map deeper targets beneath post-mineral cover across the 2,600-hectare package.
• Codelco and Rio Tinto’s 2025 district initiative underscores the region’s exploration potential. Rio Tinto holds a 57.74% interest in Nuevo Cobre, while Codelco holds 42.26%.
• Recent funding of CA$4.3 million supports ongoing exploration in one of Chile's most prolific gold-copper belts.
• CEO comments highlight the project's location within the emerging district, while the Codelco–Rio Tinto collaboration underscores the area’s broader copper exploration potential. 
• Investors should monitor further geophysics results and any drill permitting updates for catalyst potential.

Positioned in the Nuevo Cobre District

In July 2026, Gelum completed a second rock sampling program at Las Tinajas, collecting 403 samples. In its August 11 update, the company announced that it had extended known gold targets and identified new copper-molybdenum anomalies, particularly in the southeast sector near a dacitic porphyry plug. The property-wide VIP-MT geophysical survey reached 50% completion by August 2026, with electrodes installed on the eastern portion to map resistivity and chargeability to depths of several hundred meters.

The entirety of Las Tinajas is surrounded by the Nuevo Cobre land package under development by the joint venture between Rio Tinto (57.74%) and Codelco (42.26%). The JV targets porphyry copper mineralization below epithermal gold deposits in the Potrerillos Cu-Au (copper-gold) District, where several porphyry copper deposits lie within 10 km (kilometers) of the project. In the company's July 7, 2026, press release, CEO Hendrik van Alphen stated that the region promises to be an entire mining district, and Gelum is fortunate enough to be right in the middle. Nuevo Cobre was formed in 2023. In May 2025, Codelco and Rio Tinto announced a broader collaboration to develop a copper-mining district in northern Chile, supported by a joint committee and shared funding for preliminary studies.

Las Tinajas hosts historical drilling beginning in 1986 and totaling over 10,990 m in 64 holes, with multiple intervals exceeding 1 g/t Au and several holes ending in mineralization, pointing to potential bulk-tonnage open-pit systems. Gelum completed due diligence and announced that it had signed an option agreement to earn 100% interest in Las Tinajas in April 2026, followed by private placements, including CA$4.3 million closed in June 2026 to fund exploration and working capital.

Copper Remains a Necessary Industrial Metal

Demand for copper is expected to increase as data-center construction, power-grid investment, electric vehicles, and defense applications expand. A 2026 study from S&P Global projected that global copper demand will rise from approximately 28 million metric tons in 2025 to 42 million metric tons by 2040, representing an increase of about 50%. The study identified core economic activity and energy source transitions as the largest reasons for additional demand, while AI data centers and defense represent emerging demand drivers.  

Supply growth remains a consideration as demand expands. In a separate January 2026 report, S&P Global argued that, without significant additions to global supply, the copper market could face a shortfall of approximately 10 million metric tons by 2040. The study projects that mined copper production could peak around 2030 before declining as existing mines age, while recycled copper would cover only part of the additional demand. The International Energy Agency also continues to track copper as a critical mineral, with its 2026 Critical Minerals Data Explorer providing updated projections for copper demand under multiple energy and technology scenarios.

"Gelum is outperforming the underlying CDNX index," wrote technical analyst Stewart Thomson on July 6, 2026, calling it "a bullish sign that could attract momentum-oriented investment funds."¹

U.S. trade policy has also affected copper markets and inventories. On April 2, 2026, the White House modified the Section 232 tariff regime for copper, among other metals, so that applicable duties would generally be assessed on the full customs value of covered products rather than only their metal content. The proclamation established additional duties ranging from 10% to 50%, depending on the product, its origin, and its treatment under the applicable provisions.

The tariff changes have contributed to unusual flows of copper into the United States. Reuters reported in August 2026 that U.S. copper imports had reached 885,000 metric tons during the first half of 2026, while COMEX inventories had climbed to a record 675,185 tons as traders responded to the prospect of future tariffs on refined copper. At the same time, copper prices on the London Metal Exchange approached record levels, illustrating how U.S. tariff expectations have affected the distribution of available metal even as the broader global market remained sensitive to supply disruptions and demand growth.

U.S. copper supply remains an important consideration for the domestic market. The U.S. Geological Survey's 2026 Mineral Commodity Summaries estimated U.S. mine production at approximately 1 million metric tons in 2025, down from 1.05 million metric tons in 2024, while refined copper production was estimated at 850,000 metric tons. The USGS also added copper to the U.S. critical minerals list in 2025.

Thomson Says Stock is "Overperforming"

¹"Gelum is outperforming the underlying CDNX index," wrote technical analyst Stewart Thomson on July 6, 2026, calling it "a bullish sign that could attract momentum-oriented investment funds."

Thomson listed the following investor highlights:

• Gelum appears poised to burst out of a significant inverse H&S pattern.
• An enormous volume is present in the right shoulder zone; bullish.
• MFI (Money Flow Index) and OBV (On Balance Volume) are surging, suggesting an upside breakout from the H&S pattern is imminent.
• RSI (a momentum oscillator) is in a strong rising trend.

At the time of his writing, Thomson gave the company a short-term price target of CA$1.25, a medium-term price target of CA$2.50, and a long-term price target of CA$4.00, rating Gelum a "Speculative Buy".

Maricunga Belt Center of Focus

With sampling results expanding targets and geophysics underway, Gelum is positioned to generate drill-ready porphyry and epithermal targets in a district attracting major JV investment.

The company continues to advance work at Las Tinajas while maintaining its focus on the Maricunga Belt's established gold-copper endowment.

Ownership & Share Information²

Gelum Resources Ltd. has a market cap of CA$25.53 million, with 33.76 million shares outstanding. The company's 52-week range is CA$0.10-CA$1.13.

Institutions own 14.84% of shares, while Management & Insiders own 21.62%. The remaining 63.54% of shares are Retail.

Frequently Asked Questions

Q: What is the relationship between Gelum and the Nuevo Cobre JV?

A: Gelum is not a partner in the Codelco-Rio Tinto joint venture; its Las Tinajas claims are completely surrounded by the JV's land package, positioning the company as a peer explorer in the same emerging district.

Q: Where is the Las Tinajas project located?

A: The 2,600-hectare project lies 120 km northeast of Copiapó in Chile's Atacama Region, at the northern end of the Maricunga Gold Belt near the Potrerillos Cu-Au District.

Q: What recent work has Gelum completed?

A: Gelum completed two rock sampling campaigns in 2026, including 403 samples in the eastern half of the property, and advanced a property-wide VIP-MT geophysical survey that reached 50% completion by August.

Q: How does the surrounding JV activity affect Gelum?

A: The Codelco-Rio Tinto JV's focus on porphyry copper beneath epithermal gold in the district provides geological context and potential validation for similar targets at Las Tinajas, as noted in company disclosures.

Q: What funding has supported recent work?

A: Gelum closed a CA$4.3 million private placement in June 2026, with proceeds allocated to exploration at Las Tinajas and general working capital.