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Alianza Minerals Ltd. (TSXV:ANZ) has sold its Pucarana property in Peru to Compañía de Minas Buenaventura S.A.A. for a 3% NSR. Pucarana is owned by Pucarana S.A.C. which is held as to 36% by Alianza, 60% by Alamos Gold Inc., and 4% by Gallant Minerals Ltd.
As quoted in the press release:
Under the agreement, the Pucarana joint venture grants Buenaventura the right to explore and develop the Pucarana gold property which is adjacent to Buenaventura’s operating Orcopampo (Chipmo) Gold Mine in the department of Arequipa, Peru. In return, Buenaventura grants a 3% NSR royalty to the joint venture which is then divided amongst the partners Alamos Gold Inc. (60%), Alianza (36%) and Gallant Minerals Ltd. (4%). Buenaventura also agreed to pay certain past property holding costs and will be responsible for all of the property costs going forward.
Alianza now holds a net 1.08% NSR and and is entitled to receive 1.08% of the revenues from any gold production from the Pucarana mineral claims, net of smelter costs.
Alianza CEO, Jason Weber, said:
Buenaventura is the natural choice for Pucarana. Mine infrastructure related to the operations at Chipmo is located within one kilometre of the property and it is our hope that Buenaventura will be able to demonstrate the extension of their orebodies onto the Pucarana ground.
Click here to read the Alianza Minerals Ltd. (TSXV:ANZ) press release
Click here to see the Alianza Minerals Ltd. (TSXV:ANZ) profile.