Paramount expands holdings in northwestern Argentina

The northwestern tip of Argentina continues to attract Vancouver-based Paramount Ventures & Finance (VSE).

The junior can expand its land position in the province of Jujuy — currently about 60,000 hectares — by opting to acquire the 3,000-hectare Minas Azules project.

Situated 15 km east of the Eureka and Torno gold projects, Minas Azules is said to host a series of closely spaced, parallel mineralized quartz veins with a strike length of up to 1,200 metres and widths of up to several metres.

A series of six trenches over a single vein averaged 2 metres of 17 grams gold per tonne over a strike length of 750 metres. Drill targets will be evaluated through further exploration.

To acquire the project, Paramount must spend US$1.2 million over four years.