Pan American to Acquire New Argentine Mining Project

Patagonia Gold plc and Pan American Silver agreed to basically exchange mining assets in southern Argentina. Minera Triton Argentina, a subsidiary of Pan American Silver, will acquire the Cap Oeste Sur Este (COSE) project in Santa Cruz province for $15 million. Patagonia Gold gets an exclusive option to buy Minera Aquiline Argentina for $15 million. Minera Aquiline Argentina is a subsidiary of Pan American, which owns the Calcatreu gold-silver project. Patagonia Gold will have six months to execute the option.