Project overview
Ajax has the option to acquire Minas La Escondida, an area contiguous to the Eureka Project in Argentina, located approximately 100 metres from Mina Eureka.
The option, valid for a duration of 45 days for a total cash consideration of US$80,000, is binding on the Vendor subject to Ajax having completed, at its sole discretion, a satisfactory legal, technical and geological due diligence.
Land
The mining complex has a total area of 2,500 hectares
Strategic
Less than 100 meters from Mina Eureka (West) and Mina El Torno (East)
Location
It is located in the northwest of the province of Jujuy, Argentina
La Escondida is a mining project comprised of two licences: La Escondida 1 and La Escondida 2, each holding mining rights for an area covering 1,250 hectares, resulting in a cumulative total area of 2,500 hectares.
La Escondida shares the same geological prospectivity for gold and copper mineralisation as the Eureka Project, contributing potentially sizable additional resources. Like Eureka, La Escondida is located in an area with historical production activities and an established presence of material gold and copper resources.
The area has historically been recognised for the presence of alluvial deposits that were exploited in the past, mainly for gold extraction.
In addition to alluvial deposits, the region also hosts vein-form mineralisation, where minerals are found in veins or lodes within the rock. The exploitation of these veins, dating back several centuries, involved small-scale underground mining methods to extract metals such as gold, silver, and copper. Some examples of historic mines in the area include Palca Ingenio and Mina San Francisco, which contributed to the region’s mining tradition.
Eureka Project
Eureka is located in the Province of Jujuy, northern Argentina. The Project comprises 12 highly prospective gold and copper licences and is fully owned by Puna.