12 December 2018 – Bromborough (UK): NewEra Metal Resources Ltd (the “Company” or “NewEra”) announces the application of one (1) cateo (exploration concession) covering a total area of 350 ha at a new vanadium project to be known as Los Castanos in the Malargue Department, Mendoza Province, west-central Argentina.
The application is contiguous to the Company’s Mallin Largo project (500 ha), and proximal to the Los Castanos Mine permit. The area is situated approximately 50 km north of the town of Malargue at an elevation of 2,200 m. Los Castano was one of the largest bitumen mines in the region.
During the survey of the American Vanadium Corporation in the 1940s, they concluded that the Mallin Largo / Los Castanos area had very good exploration potential. At Mallin Largo bitumen veins with a reported thickness of up to 3 m are hosted in the 11 km long “Canada Ancha” anticline. Approximately 2 km of this structure occupies the Mallin Largo licence application.
