Best known for its exploration projects in Newfoundland, Noveder (NED-M) has acquired 7,400 ha near the producing Refugio gold mine in Chile’s Maricunga district.
The deal comprises two properties, the Maria Emilia and Maricunga.
The Quebec-based junior says the newly acquired Maria Emilia property covers a geophysical anomaly and alteration zone. Noveder paid US$180,000 to acquire the property, of which US$120,000 was paid by the issuance of shares. The junior also agreed to spend US$300,000 on exploration work over three years.
The work program will include geophysics, to be followed by a drill program.
The 5,400-ha Maricunga property shares its northwestern boundary with the property that hosts the Refugio mine. Noveder acquired 90% of Maricunga for US$145,000, of which US$90,000 is payable by shares. The junior must also spend US$300,000 on exploration over three years.
The exploration program at that property will include geophysical surveys and drilling to test several targets covering surface alteration zones.
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