Argentina
The Company’s first acquisition was the purchase of Puna Metals S.A., the wholly owned Argentine subsidiary of Bezant Resources Plc, an AIM-quoted mining company. Puna Metals holds the mining rights to 12 licences that collectively comprise the Eureka Gold and Copper Project, located in the north-western region of Jujuy Province, Argentina.
Eureka hosts a historical mine called the “Eureka Mine”, where historical gold and copper extraction activities commenced during the 16th and 17th century, and which has been mined as recently as the 1980s for both gold and copper.
- The Eureka project is in the advanced exploration stage and is drill-ready
- It has the potential to become a low-cost gold/copper mine within approximately 3/4 years subject to permitting and other variables
- No mineral resource estimate to a recognised standard has been historically produced for the Eureka project
- The publication of a JORC-compliant Mineral Resource Estimate is a primary objective for the Board during the next year
A non-compliant study, undertaken by former owners in the 1990s, suggested around 620,000 tonnes of Copper and 52,000 ounces of Gold.
The Company has also announced its conditional second acquisition of Minas La Escondida, comprising of two licences, sharing the same geological prospectivity and mineralisation for Copper and Gold, located contiguous to Eureka, specifically in the immediate vicinity to the historical Eureka Mine.
Our operations
The Company is focused on building a portfolio of highly prospective gold and copper assets in Argentina, beginning with its flagship Eureka Project and a pipeline of complementary acquisitions.