Through staking, options to purchase and joint ventures, Eldorado (TSE) now has mineral rights to 1,000 square miles in northwestern Argentina, along the Chilean border.
The claims extend for 75 miles in a north-south direction, covering a portion of the Maricunga gold belt to the north and extending into the southern gold belt known as El Indio-Nevada.
Eldorado considers the area to be one of the world’s most prospective for gold and silver exploration.
A portion of the claim block was originally staked by privately owned HRC Development, which can form a joint venture with Eldorado by spending the first US$1 million to earn a 55% interest.
The agreement with HRC is subject to the approval of the directors of each company. Certain directors of Eldorado are also directors of HRC. On approval, Eldorado will issue up to 100,000 shares over three years as a finder’s fee.