Three months after its initial announcement, Cerrado Gold, a privately-owned Toronto-based mining and exploration company, completed a share purchase agreement with Capella Minerals to acquire 100% of its Argentine subsidiary, Minera Mariana Argentina S.A.
In a press release, Cerrado said the principal assets owned by Minera Mariana include the Las Calandrias and Los Cisnes projects, located in the southern Santa Cruz province.
Together, both projects total 60,400 hectares with the bulk of the landholdings on the property adjacent to Cerrado’s Minera Don Nicolás gold mine.
According to Cerrado Gold, the most advanced project at this time is the Las Calandrias gold and silver project, which borders the northern boundary of Minera Don Nicolás.
“The main focus of work to date on the projects has been on the Calandria Sur and Calandria Norte deposits. These deposits are characterized as low to intermediate sulphidation, epithermal-precious-metal quartz vein and vein-breccia types,” the media brief states.
“Las Calandrias project hosts 379,000 ounces of gold and 6 million ounces of silver (indicated) and 42,000 ounces of gold and 401,000 ounces of silver (inferred).”
Los Cisnes project, on the other hand, is located to the south of Minera Don Nicolás in close proximity to its Spark target and is approximately 75 kilometres southwest of Yamana Gold’s high-grade Cerro Moro Au-Ag mine.
Cerrado reported that recent exploration activities performed by Capella at Los Cisnes have resulted in the definition of two new high-grade Au-Ag vein zones (Bagual and Potranca), which lie immediately to the southwest of the high-grade Brio structure, which is a quartz-sulfide vein/breccia system whose strikes ENE can be traced on surface for approximately 2.3 kilometres, and is up to 3 metres wide.