Spokane-based Minera Andes Inc. Tuesday purchased a new gold mine in Argentina, adding to its growing profile of potential mines there.
The 12,350-acre Arroyo Nuevo land package will be the target of aggressive drilling by Minera, according to the company. The location is easy to access and should allow year-round drilling.
The company negotiated with landowners for over a year to secure the four-year option-to-purchase agreement.
Minera hunts for copper and gold deposits primarily in Argentina, which remains relatively unexplored for mineral resources.
With Arroyo Nuevo, Minera now controls 35 properties covering about 700,000 acres of mineral concentrations in Argentina.