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Sendero Resources Announces Updated Option Agreement with EMSE
Thenewswire· 2025-07-17 23:45
Core Viewpoint - Sendero Resources Corp. has executed a definitive option agreement with Energía y Minerales Sociedad del Estado (EMSE) to formalize rights to exploration claims in Argentina, enhancing its land position in a copper and gold prospective district [1][2]. Group 1: Agreement Details - The new option agreement replaces the original agreement dated March 4, 2024, and applies to eight exploration claims covering a total area of 9,177 hectares (91.7 km²) [1][2]. - The total project area, including the adjacent Peñas Negras project, now comprises 21,177 hectares (211.77 km²) [2]. Group 2: Financial Commitments - The company has the right to acquire a 100% interest in the EMSE claims by incurring a total of US$5,000,000 in exploration expenditures over five years, paying an aggregate of US$65,000 over five years, and granting a 1.0% NSR royalty over all EMSE and Peñas Negras claims [6]. Group 3: Strategic Importance - The Peñas Negras Project is strategically located in the Vicuña Belt, with geological characteristics similar to other deposits in the area, and has identified multiple porphyry and high-sulfidation epithermal targets [7]. - The project is situated approximately 18 km southeast of the Caserones mine operated by Lundin Mining, indicating its proximity to significant mining operations [7]. Group 4: Company Vision - The CEO of Sendero Resources Corp. expressed commitment to advancing exploration and ensuring equitable sharing of development benefits with the local community in La Rioja [3].