Company sees agreement as movement toward seeking venture partners.
Centenera Mining Corp. (CT:TSX.V; CTMIF:OTCQX) recently announced it signed a definitive property option agreement for the Esperanza Copper-Gold Project in San Juan Province, Argentina. Previously, the company entered into a binding Letter of Intent with an arm's length vendor by which Centenera was granted an exclusive option to acquire a 100% interest in this project.
"Signing a definitive option agreement for Esperanza is an important milestone for Centenera. The recent drill program at the project returned excellent results, confirmed our belief that Esperanza has significant bulk tonnage potential and sets the stage for us to actively seek joint venture partners to advance the Project," said Keith Henderson, Centenera's president and CEO.
The Esperanza Copper-Gold Project consists of 32 mining claims in the San Juan Province.
Some of the drilling highlights from this project are:
- 2018 drill program intersected continuous mineralization from surface to end of hole: 387m in Hole 18-ESP-025, 451m in Hole 18-ESP-027
- Deposit remains open both laterally and at depth
- Four priority drill targets identified to assess bulk tonnage potential.
Through the payment of US$2,306,000 and the issuance of common shares in the company valued at US$500,000 to the vendor, Centenera has the exclusive right and option to earn a 100% interest in the project, subject to acceptance by the TSX Venture Exchange. Of the first figure mentioned, US$208,000 has been paid to date.
Headquartered in Vancouver, Canada, Centenera is a mineral exploration company with a diversified portfolio of assets in Argentina.
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