Toronto-based MacMillan Gold (MMG-T) and a subsidiary of Cambior (CBJ-T) are teaming up to explore several properties in the Huamachuco area of north-central Peru.
Both companies will fund a preliminary reconnaissance program aimed at exploring three concessions believed to be prospective for gold mineralization.
Upon completion of the initial program, the partners will consider forming a joint company to conduct further work. Cambior will act as operator.
Combined, the three concessions comprise 1,600 ha, which are underlain by Cretaceous-age quartzites and Tertiary-age intrusives. To date, gold mineralization has been found in disseminated stockworks, quartz veins and breccias in association with intrusive contact zones.
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