Paramount Ventures & Finance (VSE) is preparing to drill its Rio Juramento project, 50 km southeast of Salta, Argentina.
The property features a ridge known as Cerro del Cobre, which consists of an extensive zone of sedimentary-hosted, copper mineralization with significant silver values.
Since optioning the property, Paramount has acquired additional ground in the area on the premise that Cerro del Cobre represents part of a significant copper-mineralized belt similar to the Zambian-Zairian copper belt of Central Africa.
The company now controls 128,096 hectares, covering some 132 km of the upper Cretaceous, Salta Group stratigraphy.
Initially, drilling will be concentrated in an area where trenching returned up to 65 metres grading 0.97% copper, plus 24 grams silver per tonne.
Surface mineralization consists mainly of malachite and azurite within calcareous and fine-grained, silty sandstones and shales; these, in turn, overlie quartz sandstone and redbeds.
The program will include 2,000 metres of drilling in up to 20 holes.
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