An Argentine firm will earn a 67% stake in Northern Orion’s (NNO-T) El Dorado project in Santa Cruz province.
To earn the interest, Minera Mincorp must pay US$5 million over four years.
Northern Orion has traced an epithermal vein system over a 4,000-metre length and, in the process, identified breccia bodies with potential for disseminated bulk-tonnage-style mineralization. Mincorp will explore the system extensively
in the first year of the agreement. The project encompasses 12,500 ha of the 200,000 ha that Northern Orion holds in Argentina.
Northern Orion is 54%-owned by Miramar Mining (MAE-T) and has interests in more than 30 Argentine projects.
Minera Mincorp is held 50-50 by Amcorp Argentina, a unit of Luxembourg’s Minorco, and Perez Companc, an Argentine industrial group.
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