Ronin Resources Expands into Argentina with Gold-Silver Project Application
RONIN RESOURCES LTD (RON) Share Update November 2024 Monday 4th
Ronin Resources Expands Portfolio with New Gold-Silver Project in Argentina
Ronin Resources Limited (ASX: RON) has announced a strategic move to expand its mineral exploration portfolio by applying for a substantial gold-silver project in the mineral-rich San Juan Province of Argentina.
Instant Summary:
- Ronin applies for exploration over 23,637 hectares in San Juan, Argentina.
- The region is known for significant gold-silver and copper-gold deposits.
- Project accessible via infrastructure used by major mining companies.
- Ronin's board leverages local experience and networks for exploration.
Project Details
Ronin Resources Limited has submitted mineral exploration applications covering approximately 23,637 hectares in the San Juan Province of Argentina. This area, known as the La Punilla Gold-Silver Project, is strategically located near the town of Rodeo, providing access via established routes used by major mining operations such as BHP and Lundin Mining's projects.
The San Juan Province is renowned for its mineral wealth, hosting significant gold-silver and copper-gold deposits, including the Veladero deposit operated by Barrick and Shandong Gold. The region's geological setting, characterized by Miocene intrusives and hydrothermal alterations, presents promising opportunities for Ronin's exploration efforts.
Strategic Significance
Ronin's Chairman, Joseph van den Elsen, emphasized the strategic importance of this project, noting that it provides the company with a foothold in a highly active area for mineral exploration and corporate activity. The board's extensive experience and professional networks in San Juan will be instrumental in overseeing the project's preliminary exploration phase.
Exploration and Next Steps
The company anticipates the approval of its exploration applications within three months. Meanwhile, Ronin plans to conduct low-cost desktop and field mapping activities to assess the project's technical merits. These activities will be funded from the company's existing working capital reserves.
Ronin remains committed to its strategy of enhancing shareholder value through the development of existing assets and the acquisition of new opportunities. The company will also continue to explore additional prospects in the San Juan Province and beyond.
This strategic expansion into Argentina could positively influence Ronin's stock by positioning the company within a region known for its rich mineral deposits. The project's proximity to major mining operations suggests potential for significant discoveries, which may enhance investor confidence and attract further investment.
Investor Reaction:
Analysts are likely to view this expansion favorably, given the region's mining potential and Ronin's strategic approach. However, investors may remain cautious until exploration results provide more concrete evidence of the project's viability.
Conclusion:
Ronin Resources' application for the La Punilla Gold-Silver Project marks a significant step in its growth strategy. Investors should watch for updates on the project's progress and potential exploration outcomes, which could impact the company's market position and shareholder value.