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Patagonia Gold to acquire 4 property blocks in Argentina from Goldcorp

Patagonia Gold PLC agreed to acquire four additional exploration property blocks in Argentina's Santa Cruz province from Goldcorp Inc.

The company said Dec. 28 that it will purchase the gold-silver prospective Las Mellizas, San Agustin, La Esperanza and Mancha Blanca property blocks in exchange for a 1% net smelter royalty of any future production.

Goldcorp unit from Oroplata SA will transfer ownership of the property blocks, comprising 20 mineral tenements, to Patagonia unit Minera Minamalu SA.

Patagonia CEO Christopher van Tienhoven said the company will consolidate the properties adjacent or near to its El Tranquilo block.

In mid-December, Patagonia agreed to sell a 1.5% net smelter returns royalty on the Cap-Oeste Sur Este gold project in Argentina to Metalla Royalty & Streaming Ltd. for US$1.5 million.