PROAR Mineral Properties
Mineral Projects – Santa Cruz and Rio Negro Provinces, Argentina
In late 2017 Dark Horse executed the acquisition and transfer agreements for the PROAR portfolio of gold-prospective properties with the vendor, a successful, professional exploration geologist based in Argentina. Ownership of all properties will be transferred to Dark Horse’s 100% Argentine subsidiary company Excarb SA.
The PROAR properties include 23 leases covering 176,500ha in Santa Cruz province and 17 leases covering 142,000ha in Rio Negro province.
The Santa Cruz properties are all located within the Deseado Massif, which covers a large region in Santa Cruz. The Deseado Massif hosts numerous low-sulphidation, epithermal, precious-metal quartz vein and vein-breccia deposits that appear to have closely followed the Jurassic acid volcanism. There are six operating mines in the area: Cerro Negro – Goldcorp; Cerro Vanguardia – AngloGold Ashanti; Minera Santa Cruz – Mauricio Hochschild/McEwen Mining; Manantial Espejo – Panamerican Silver; Mina Marta - Hunt Mining; and Martinetas – Minera Don Nicolas. There are several advanced projects under exploration, and Cerro Moro – Yamana Gold is under construction (see Figure 9).
Dark Horse has commissioned a Prospectivity Matrix study to indicate Target Prospectivity for each of the leases. A valorization matrix using Kilburn’s modified valuation methodology, including closeness to infrastructure (energy, roads and services), stratigraphy, geophysics, alteration, geochemistry, structure and mineralization.
There are a number of properties which have indicated good prospectivity including Fenix, Aguada Grande (adjacent to Dark Horse’s Los Domos Gold project), Halcon, Cerro La Taba, Aguada del Cuero and Tres Cerros Sur.