Ajax Resources PLC (AQSE:AJAX) confirmed it has acquired the Minas La Escondida project in Argentina.
Minas La Escondida spans 2,500 hectares, adjacent to the company’s Eureka project.
The company has now exercised its option for Minas La Escondida, for $80,000, and, at the same time, the company’s Argentine subsidiary, Puna Metals, has agreed terms to conditionally acquire the La Norteña licence area for US$22,500.
La Norteña, which spans 6,300 hectares, will cost US$22,500, subject to due diligence, which is currently underway.
It's planned that Puna Metals and the vendor will enter into an alluvial gold extraction project, in which the vendor will retain a 20% share of profits.