Santo Domingo.- PanTerra Gold obtained a 8,000 hectare concession from the Dominican government to carry out exploration over an area where traces of copper and gold is evident over a length of 5 kilometers, outlet proactiveinvestors.com.au reports.
It said the Fuerte concession, located near Bahoruco (southwest), is the Dominican Government’s first grant in the past 32 months. “Bulk samples of high grade copper ore were mined from the area and exported to Spain for evaluation around 1955.”
The Australian miner will carry out soil and stream sampling in early 2014 followed by geophysical surveys and drilling of any identified targets, the news source said. “The award of Fuerte follows the recent creation of a new Ministry of Mines and Energy, which is expected to improve administration of the country’s mining sector.”
Proactiveinvestors.com.au said the company also expects to be granted its two other concessions, La Paciencia and La Perseverancia before the end of this year. “It will establish an exploration team based in Santo Domingo to commence activity early next year, with the initial programs funded by part of the proceeds from the recent issue of Redeemable Preference Shares to the Central American Mezzanine Infrastructure Fund.”
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