Vancouver Anglogold (AU-N) has paid Candente Resource (DNT-V) $10,000 for the right oif first refusal over ten of the junior’s properties in Peru.
The deal allows the South African-based major to match any price made by a competetor over a six month period for the projects. Anglogold will carry out evaluation programs on each of the ten properties and give Candente the results.
Nine of the properties, covering 16.1 km of ground in southern Peru, are considered prospective for high sulphidation gold targets. Previous woprk incluides rock chip samplings, which yielded values as high as 282 grams silver per tonne.
One of the southern Peru properties, dubbed Millo, is held jointly with fellow junior Geologix Exploations (GIX-V). The property hosts a 3-by-4 km hydrothermal alteration zone. Geochenical results over the zone show anomalous values of mercury and gold around a zone of massive to vuggy silica, hydrothermal breccias, pervasive silicification and quartz-alunite-dickite, argillic clays and native sulphur and crystalline barite.
In central Peru, the Pamel property hosts the same Tertiary volcanic belt that contains the Pierina and Yanacocha gold deposits. Pamel was the first high sulphidation target acquired by Candente as a result of the Company’s initial regional exploration program carried out in 1997. Hydrothermal alteration typical of a high sulphidation epithermal gold deposit covers a 2-by-4 km area
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