Pegasus Joins In Argentina Venture
Pegasus Gold International Inc. and Minera Andes Corp. have signed a joint-venture agreement on the Arroyo Verde gold and silver project in Argentina.
The Pegasus discovery comprises more than 940 acres in Argentina’s Chubut Province. Based on an exploration program which included 25 shallow test holes, an “inferred resource” of two million tons has been identified, according to the companies.
Within the core exploration area, Arroyo Verde’s gold grade ranged from three to eight ounces per ton, with silver grade at 10 to 20 grams per ton. If further exploration warrants the work, reconnaissance drilling will be conducted in 1998.