Vancouver — Peru-based Mauricio Hochschild & Co. has launched a US$1.3-million exploration program over Minera Andes‘ (MAI-V) El Pluma-Cerro Saavedra silver-gold property in southern Argentina.
The program will target 9 prospects around the Huevos Verdes high-grade gold vein with 3,600 metres of trenching followed by 3,000 metres of drilling. The partners are testing for “low-sulphidation style” epithermal gold mineralization hosted in Jurassic volcanic rocks overlain by Cretaceous sediments and Tertiary basalts.
Previous drilling by Minera Andes on the Huevos Verde vein returned up to 7 metres grading 9.74 grams gold and 630.3 grams silver per tonne. Hochschild plans to evaluate the vein by underground exploration later in the year.
Hochschild can earn a 51% interest in the 880-sq-km property by spending US$3 million over three years, as well as making cash payments of US$400,000 per year.
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