Newmont Corporation's Argentinean subsidiary, Oroplata S.A., entered into a binding letter agreement with Patagonia Gold Corp. on April 1, 2025. This agreement grants Newmont an option to acquire a 100% undivided interest in Patagonia's Tornado and Huracan gold and silver properties, including the El Diablo exploration permit, located in Argentina.
Under the terms of the Option Agreement, Newmont will make aggregate cash payments totaling US$1,500,000. The properties span approximately 11,900 hectares within the prospective Deseado Massif geologic region of Santa Cruz province.
This agreement allows Newmont to explore and potentially develop these properties, which have shown anomalous mineralization in previous drilling, without a large upfront investment. It aligns with Newmont's strategy of managing its extensive property portfolio and evaluating new opportunities.
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