Having carried out several airborne geophysical surveys, Monarch Resources (TSE) is poised to embark on an exploration effort in the Argentine province of San Juan.
The Bermuda-registered company has a 51% interest in the Gualilan gold property, which comprises 10,000 hectares near a historic mining district. Its joint-venture partner is Solitario Resources
While skarn mineralization is documented, Monarch believes the area also has potential for Carlin-type deposits. Moreover, many of the known mineral belts in Chile extend into Argentina.
The company’s exploration spyglass is also trained on Mexico, where Monarch owns the Rodeo gold property and where it has entered into an agreement regarding the nearby Sabinas concession. Both projects are in Durango state, while the agreement, with Altiplano S.A., includes the Virgen concession in Zacatecas state.
The move into Argentina and Mexico is an attempt at “geographic diversification,” says Paul Rose, vice-president of exploration, who adds that “the company is committed to gold, rather than expanding into other commodities.”
Monarch is the largest gold producer in Venezuela.
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