The right to earn a half interest in an Argentine exploration company gives Viceroy Resources (TSE) a valuable foothold in that country.
Viceroy can gain its stake in Minas Argentinas by spending US$3 million on exploration and additional property acquisitions by June 30, 1996. Minas holds prospective gold properties within five provinces in Argentina, covering more than 280,000 acres. The holdings constitute 30 separate projects, and field work is being managed from an exploration office in the city of San Juan.
Viceroy plans to form a public company named Oro Belle Resources, which would hold the interest in Minas Argentinas as well any other future South American acquisitions.
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