Piedra Negra is located in the Jurassic aged Deseado Massif in Santa Cruz Province, Patagonia, southern Argentina. The Deseado Massif contains a number of large precious metal mines including Cerro Vanguardia (AngloGold Ashanti), Manantial Espejo (Pan American Silver), San José (McEwen Mining), Cerro Negro (Newmont), and Cerro Moro (Pan American Silver).
The Piedra Negra project contains an extensive swarm of low-sulfidation veins anomalous in gold and other trace elements. The veins are hosted by andesitic to rhyolitic volcanic rocks. At Piedra Negra, rock chips returned up to 16.0 ppm. An initial nine-hole drill program (2018 to 2019) yielded modest results, including 2 meters of 0.655 ppm gold from 14 metres below surface. Most of the veins remain untested and future documentation of structural controls may lead to improved subsurface target definition.
Transaction Overview and Summary
Orogen acquired the Piedra Negra royalty as part of the merger with Renaissance Gold in 2020.