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NGEx Minerals secures option to acquire Valle Ancho gold project in Argentina

Josemaria Resources Inc. spinoff NGEx Minerals Ltd. entered into an option to earn a 100% interest in the Valle Ancho, Interceptor and Filo de las Vicunas properties, collectively known as the Valle Ancho gold project in Argentina.

The Valle Ancho project is held by the province of Catamarca and covers about 100,000 hectares of prospective ground on the Argentine side of Chile's Maricunga gold belt.

NGEx can acquire a 100% interest in the project by spending C$8.2 million on it over two years.

The company believes that no significant exploration has been conducted in the area for almost 20 years, it said Sept. 9.

"Valle Ancho represents a very rare opportunity to acquire a very large land package that we believe has excellent potential for both gold and copper-gold deposits," NGEx President and CEO Wojtek Wodzicki said.

Josemaria completed the spinout of its Los Helados copper-gold project in Chile in mid-July into NGEx Minerals and plans to list it on the TSX Venture Exchange under the ticker NGEX.