8 de Julio Project
The 8 de Julio site is comprised of 34 mining properties over more than 67,000 hectares in the Deseado Massif corridor of the Province of Santa Cruz. Two of these properties are classified as “Cateos” (10,499 hectares) while the remaining properties are classified as “Manifestation of discovery” (56,888 hectares).
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In June 2013, Austral Gold Argentina completed the 2013 exploration season of the 8 de Julio Project where a new systematic surface sampling was executed. The study was carried out using a circular saw over 78 channels from the most prospective tenements (Barroso Grande, Barroso Chico, Los Pinos-Aguada Norte and El Salitral) leading to 200 additional samples including 23 rock chip and float ones. The Barroso Grande area remains the most attractive target with gold grades up to 12 g/t where further geophysics studies were performed covering an area of 38 km², a total of 332 lines (or 910km) of exploration study. As a result of this test, several buried structures were identified for further exploration with trends similar to the Deseado Massif general structure setting.
During 2014, the company concluded with an Environmental Impact Report (EIR) as requested by the mining authorities of the province of Santa Cruz. In addition, the company continues with (i) the conversion of cateos to manifestation of discovery (MDs), and (ii) the completion of base geological reports in compliance with local regulations.
The Company continue to file base geological reports in compliance with local regulations.