23 February 2022 – Bromborough (UK): NewEra Metal Resources Ltd (the “Company” or “NewEra”) is pleased to announce application for one cateo (exploration concession) of 500 ha for uranium – vanadium exploration in the department of Malargue, southern Mendoza Province.
The project is to be known as Carmencita and has been identified from an independent structural and satellite study completed for the Company during 2019. Carmencita is situated approximately 10 kms southwest of the Huemul uranium mine in the Malargue uranium district of western Argentina. This district is one of seven (7) uranium districts in Argentina and was the site of the first uranium mining in the country in the 1950s. The Huemul mine is located approximately 40 km south of Malargue town, and it operated from 1955 – 1976 producing 149 tonnes of U3 O8 and 861 tonnes of copper at average ore grades of 0.21% U, 2% Cu and 0.11% V.
Carmencita is located in an area of Upper Cretaceous age sediments (sandstones, conglomerates) and tuffs with several U-Cu occurrences in the immediate vicinity. A possible anticlinal structure with bitumen occurrences has been interpreted from the structural study of 2019.
The Company is reviewing data from the Malargue uranium district and Neuquén Basin in general and subject to results will apply for additional uranium-vanadium projects.
