Partners drill in Argentina

Vancouver-based partners Primo Resources (PRI-V) and Golden Peaks Resources (GL-V) have begun diamond drilling at their Los Dos Buhos and Sierra de Las Minas gold properties in southwestern Argentina.

Drilling will target four vein systems — Los Dos Buhos, Vallecito, Portezuelo and Esperanza — that are known to contain several near-surface, narrow, gold-bearing quartz veins. The targets were previously subjected to trenching, geophysical surveys and drilling (T.N.M., Sept. 7-13/98).

Follow-up trenching at three other prospects — Skull, Videla and Corral — will be carried out concurrently with drilling. These vein systems were unearthed earlier this year during a trenching program.

Together, Los Dos Buhos and Sierra de Las Minas comprise 400 sq. km in a region that has been known for its gold and silver potential since the early 1900s. The project benefits from thin-to-non-existent overburden and a relatively low elevation (750 metres maximum).

To date, the partners have discovered 13 gold-bearing quartz-vein systems within a 16-km radius.

Mitsubishi is earning a 30% interest in each property by funding US$1.5 million on exploration. Once the earn-in is complete, Golden Peaks, the operator, and Primo will each hold 35%.