Toronto-based Sikaman Gold Resources (TSE) and partners have been granted an exclusive option to explore and develop gold-bearing gravels along a 150-km stretch of the Neuquen River in western Argentina.
The option, from the provincial government of Neuquen, is for 180 days and will give way to a formal agreement. Sikaman’s partners include a private Canadian investor and a private corporation in Bermuda. Under the option, title to about 20,000 hectares is held by the state mining company Cormine S.E.P.
Sikaman estimates a potential resource of one billion cubic metres of gravel containing 12 million oz. recoverable gold (based on an average grade of 0.4 grams gold per cubic metre).
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