U308 signs joint venture with MH Argentina S.A.

THE BOURSE WHISPERER: Perth-based ASX-listed company U3O8 has announced that its 100 per cent-owned subsidiary, Piche Resources has signed a Joint Venture Agreement with MH Argentina S.A. on the Cerro Chacon project in Argentina. By Mark Jones,

The Cerro Chacon Project consists of 11 tenements, covering an area of approximately 419 square kilometres, in the province of Chubut, in the Patagonia region of Argentina.

 

Chubut Province, Argentina. 
Source: Company announcemen
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The project area is prospective for low sulphidation epithermal gold-silver mineralization.

Several very significant anomalies have previously been identified; however, no drilling has been undertaken on the project to date.

The Cerro Charcon project is one of a number of operations and projects in Patagonia located in similar geological settings.

MH Argentina S.A. is the Argentinean branch of Hochschild Mining, a leading underground precious metal producer in the Americas with a primary focus on gold and silver.

  

Location of Cerro Charcon Project JV, Chubut. Source: Company announcement