A 86% owned subsidiary of Crown Resources (TSE), Solitario Resources, has an option to buy seven properties containing copper, gold and silver mineralization in the western Argentine province of Mendoza. The most prospective of these is the 14,000-acre Cerro Amarillo concession, where surface mineralization averages greater than 0.1% copper and 0.01 oz. gold per ton over an area 1,500 ft. long and 1,000 ft. wide. Crown hopes to encounter higher grades at depth, noting that in the Andes region, surface mineralization is typically depleted, with an enrichment blanket occurring within several hundred feet of surface.
One of the other properties, El Manzano, contains seven known copper-silver manto deposits which have returned surface values exceeding 10% copper and 10 oz. silver per ton.
The five other concessions contain strongly anomalous
copper-gold-molybdenum-lead-zinc mineralization at surface.
None of the properties has been drill-tested and Crown is now reviewing title and technical representations.
The agreement calls for a series of escalating cash payments to be made over four years, with no underlying royalties.
Crown plans to move quickly to establish drill targets.
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