"The Project was acquired through staking and comprises three separate exploration claims, totaling almost 10,000 hectares and located in the vicinity of the Company's Organullo gold project," stated the news release.
"Staking opportunities are rare in Salta Province where prospective ground is at a real premium," stated Keith Henderson, Centenera's president and CEO, "Property acquisitions in this region are generally achieved through option agreements with underlying owners, which can be expensive. With this acquisition, Centenera has an opportunity to assess and explore this large prospective area with an extremely low acquisition cost."
To the best of the company's knowledge, the project has not been subject to prior exploration, at least not in recent times, stated the company. Centenera has considerable expertise in the Organullo District and regionally in Salta Province.
"The area is prospective for epithermal gold deposits and associated mineralization," stated the company. "The company possesses considerable amounts of regional exploration data that will aid initial exploration and targeting. This data includes extensive BLEG sampling results covering prospective belts in northwest Argentina, which was collected in partnership with Newmont in 2008."
The company also has interpreted regional satellite imagery, regional geophysical data, and various other geological and geochemical data sets.
Centenera reported that the next steps are to include initial reconnaissance of the project areas to determine the location of initial exploration. Thereafter, exploration will likely focus on detailed surface geochemistry.
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