Western Mining teams up with Argentina Gold

A subsidiary of Western Mining of Australia can acquire a 60% interest in three of the Argentine properties of Argentina Gold (VSE).

In return for the option, Western has paid the vendor US$3 million and is required to spend US$3 million on exploration in the first year. To earn the interest, it must spend a further US$19 million over four years, as well as pay an additional US$8 million.

The three properties — Rio Frio, La Poposa and Olivares — will immediately undergo trenching and drilling.