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Centenera Mining Enters into Letter Agreement for Acquisition of Six Precious Metals Projects, Santa Cruz Province, Argentina
Due Diligence Rock Sampling at Cerro Bayo Property Returns 572g/t silver and 0.48g/t gold VANCOUVER, British Columbia, Sept. 05, 2018 (GLOBE NEWSWIRE) -- Centen
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[{"type":"text","content":" Due Diligence Rock Sampling at Cerro Bayo Property Returns 572g/t silver and 0.48g/t gold VANCOUVER, British Columbia, Sept. 05, 2018 (GLOBE NEWSWIRE) -- Centenera Mining Corporation (“Centenera” or the “Company”) - (TSXV: CT, OTCQB: CTMIF) announces that it has signed a binding letter agreement (the “Letter Agreement”), whereby it will be granted the right to acquire up to a 100% interest in six precious metals properties (the “Properties”) from an arm’s length party, Tres Cerros Exploraciones S.R.L (“Tres Cerros”) through three separate option agreements (the “Option Agreements”), as to two Properties per agreement. The Properties are all located within the highly prospective Deseado Massif in Santa Cruz Province, Argentina, and together comprise approximately 32,900 hectares. Under the terms of the Option Agreements, Centenera will be granted an exclusive option (the “Option”) to acquire a 100% interest in the Properties by way of staged cash and common share payments, subject to a net smelter returns (“NSR”) royalty in favour of Tres Cerros. “This acquisition gives Centenera a meaningful foothold in this important mining and exploration district,” stated Keith Henderson, Centenera’s President & CEO. “This package of properties was carefully targeted by Tres Cerros, which has patiently acquired the properties through staking over the last two to three years. Tres Cerros is an Argentinean company founded by a group of exploration geologists with extensive experience in the Deseado Massif and who have been involved in several discoveries over the last few years including Cerro Moro, Mina Martha, Joaquin and Virginia deposits. Tres Cerros' geologists have been featured various times on the front cover of The Northern Miner for making gold and silver discoveries in this mining district.” Mr. Henderson continued, “Santa Cruz is a leading jurisdiction for discovery of low and intermediate sulphidation epithermal gold and silver deposits with approximately 19 million ounces of gold and 580 million ounces of silver discovered since 1990. For precious metals it is possibly the highest-ranked exploration destination in South America and, with a relatively short history of mineral exploration, the discovery potential is expected to be extremely high. The Santa Cruz Province i...