TORONTO, ONTARIO--(Marketwire - Jan. 24, 2012) -Viper Gold Ltd. ("Viper Gold" or the "Company") (TSX VENTURE:VPR) is pleased to announce that it has issued 400,000 common shares to Duran Ventures Inc. ("Duran") thereby satisfying all of the payment terms of the Option Agreement with Duran. Under the terms of the Option Agreement, Viper has now earned a fifty percent (50%) beneficial interest in the Corongo Property located in the Department of Ancash of Peru
https://www.stockhouse.com/financialtools/sn_newsreleases.aspx?qm_symbol=V.VPR&newsid=8406846
I like this JV an while the first pass had mixed results I found this blurb from an old PR of Macmillan Gold back in 1998 at which time the Santa Rosa was later JV with Rio TInto which later dropped the option.
Minas Santa Rosa Property
The Minas Santa Rosa Property in the Ancash mining department of north central Peru was staked late last year by the company. Past work and recent exploration recorded significant copper mineralization that is characteristic of a large copper porphyry system. Regional geological mapping and sampling by the company has confirmed extensive alteration and disseminated copper mineralization. In 1967, five holes were drilled by Guggenhiem Exploration Co on the property, the results of these drill holes are listed below.
Drill hole 1 - 276m of 0.37% copper
Drill hole 2 - 246m of 0.60% copper
Drill hole 3 - 175m of 0.20% copper
Drill hole 4 - 196m of 0.71% copper
Drill hole 5 - 113m of 0.96% copper
Of significance is the fact that MacMillan's surface sampling has also yielded encouraging gold that was not assayed for previously.
MacMillan has received serious joint venture interest regarding the Minas Santa Rosa property on the part of major mining companies.
If nothing else it does spark the imagination.
Cheers
Shoe