PanTerra Gold has announced that it has been granted a 8,000 hectare concession by the Dominican government to carry out explorations in an area where copper and gold mineralization are said to be evident in a five-kilometer stretch. The Fuerte concession is located near Bahoruco in the southwest and is the first mining permit that the Dominican government has granted in the past 32 months.
A company press release says that the area has been known for its mining potential since 1955. As reported, bulk samples of high-grade copper ore were mined in the area and exported to Spain for evaluation around 1955.
The company says that soil and stream sampling will be conducted in early 2014 followed by geophysical surveys and drilling of any identified targets.
The company says that the awarding of the exploration concession was granted by the newly created Ministry of Mines and Energy.
The company expects to be granted two other concessions, La Paciencia and La Perseverancia before the end of the year.
The company already operates the Las Lagunas gold/silver mining project that is shipping dore to refiners abroad.
www.panterragold.com/userfiles/file/news/22_8_2013%20Fuerte.pdf