Posted in | News | Gold | Copper

Malbex Resources Purchases Two Copper-Gold Porphyry Projects in Argentina

Malbex Resources, a gold exploration company, declared that it has purchased two potential copper-gold porphyry projects located in Argentina.

The exploration projects, Chalchalero and Quebrada Seca, can be investigated round the year, especially during the Andean winter months when Malbex’s Del Carmen gold-silver project is dormant.

The Chalchalero copper-gold project is located in western La Rioja Province close to the San Juan provincial border, about 290 km north of the company’s office in San Juan, while the Quebrada Seca copper-gold project is located in Catamarca province approximately 75 km to the southwest along the same structure as Xstrata Copper‘s Agua Rica copper-gold development and Bajo de la Alumbrera copper-gold mine project.

Malbex Resources’ President and CEO, Tim Warman informed that for the past 16 months, geologists have been assessing a number of projects across Argentina, and their work is turning out encouraging results. Warman further added that the Del Carmen is a major project for the company. However, with just seven months of exploration season in the Andes, it is vital to deliver consistent exploration results on a year-round basis. The company plans to initiate these projects as well as the new gold project in Peru, once the Del Carmen project is immobilized for the Andean winter in late April.

Malbex Resources will receive 100% ownership of the project from private owners in Argentina in return for staged payments of approximately US$1.45 million over four years without any work commitment. The payments for one year of the agreement amount to US$225,000. A 1% NSR will be retained by the vendors that can be acquired any time by the company for US$1 million.

Similarly, the company will receive 100% ownership of the Chalchalero project from a private owner in Argentina in return for a series of payments of approximately US$800,000 over three years. With the issuance of Malbex shares, about US$300,000 of the total can be fulfilled. The payments for one year of the agreement amount to US$200,000 without any work commitment. A 2% NSR will be retained by the vendors that can be acquired anytime by the company for US$1 million.

Joel Scanlon

Written by

Joel Scanlon

Joel relocated to Australia in 1995 from the United Kingdom and spent five years working in the mining industry as an exploration geotechnician. His role involved utilizing GIS mapping and CAD software. Upon transitioning to the North Coast of NSW, Australia, Joel embarked on a career as a graphic designer at a well-known consultancy firm. Subsequently, he established a successful web services business catering to companies across the eastern seaboard of Australia. It was during this time that he conceived and launched News-Medical.Net. Joel has been an integral part of AZoNetwork since its inception in 2000. Joel possesses a keen interest in exploring the boundaries of technology, comprehending its potential impact on society, and actively engaging with AI-driven solutions and advancements.

Citations

Please use one of the following formats to cite this article in your essay, paper or report:

  • APA

    Malbex Resources. (2019, February 18). Malbex Resources Purchases Two Copper-Gold Porphyry Projects in Argentina. AZoMining. Retrieved on June 23, 2024 from https://www.azomining.com/News.aspx?newsID=6082.

  • MLA

    Malbex Resources. "Malbex Resources Purchases Two Copper-Gold Porphyry Projects in Argentina". AZoMining. 23 June 2024. <https://www.azomining.com/News.aspx?newsID=6082>.

  • Chicago

    Malbex Resources. "Malbex Resources Purchases Two Copper-Gold Porphyry Projects in Argentina". AZoMining. https://www.azomining.com/News.aspx?newsID=6082. (accessed June 23, 2024).

  • Harvard

    Malbex Resources. 2019. Malbex Resources Purchases Two Copper-Gold Porphyry Projects in Argentina. AZoMining, viewed 23 June 2024, https://www.azomining.com/News.aspx?newsID=6082.

Tell Us What You Think

Do you have a review, update or anything you would like to add to this news story?

Leave your feedback
Your comment type
Submit

While we only use edited and approved content for Azthena answers, it may on occasions provide incorrect responses. Please confirm any data provided with the related suppliers or authors. We do not provide medical advice, if you search for medical information you must always consult a medical professional before acting on any information provided.

Your questions, but not your email details will be shared with OpenAI and retained for 30 days in accordance with their privacy principles.

Please do not ask questions that use sensitive or confidential information.

Read the full Terms & Conditions.