Mirasol Resources Ltd. said March 22 that OceanaGold Corp. terminated the option agreements for the La Curva and Claudia gold-silver projects in Argentina.
Under the La Curva option agreement, OceanaGold spent C$3.7 million on exploration on the project. At Claudia, OceanaGold has invested C$2 million since the agreement's execution.
Mirasol President and CEO Norm Pitcher said that even though the drilling results did not meet OceanaGold's expectations, the work identified targets that warrant further testing.
Mirasol completed surface exploration and geophysical surveys on the Claudia project to define new drill targets; results are pending.
Pitcher said the company will now initiate a business development process to identify new partners to continue exploration at both projects.