Everyone knows about gold mining in Canada, but you may be interested in knowing that mining for copper and gold in the Central Andes, a region stretching across Argentina, Bolivia, Chile, and Peru, has a rich history and significant economic impact. As of 2017, the Central Andes was responsible for approximately 39% of the world’s copper production, among other significant shares of metals, including gold. Argentina is rich in gold as illustrated by the Veladero, Lama and Cerro Vanguardia. Specifically the Vicuna District which is home to world-class super giant discoveries owned by Filo Mining, Lundin Mining, and NGEx Minerals which surround Sendero Resources’ (SEND.V) flagship Peñas Negras Project. With proximity and similar geology Sendero is hoping to recreate the same exploration success as its neighbours.

Sendero’s 100% owned property covers approximately 120 square kilometres of claims in highly prospective areas. Peñas Negras has multiple high-priority targets including:

• La Pena
• Cerro Verde South
• Tamberias
• La Ollita

The property has seen extensive exploration efforts by notable explorers including Anglo American, Vale, Golden Arrow, Eldorado, Solitario Resources during the 1990s and 2000s. This bevy of historical data which included magnetic, geophysical, spectral imagery and drilling campaigns has been compiled into one property-wide database for easy access and analysis. The project has easy access and excellent logistics.

Sendero is cashed up, permitted and mobilizing to commence an ambitious drill program at Peñas Negras in early 2024. The junior explorer also has seasoned in-country mining veterans leading the charge. Technical Advisor, David Royle, has 48 years of international experience in all aspects of mineral exploration and project feasibility. He has also held senior management positions at Newcrest, Newmont and MIM (Mount Isa Mines now owned by Glencore). He led exploration teams that are responsible for the discovery of several major discoveries in South America, including Cerro Negro, Argentina, Rio Blanco and Pierina.

What we think:

Sendero has managed to de-risk Peñas Negras Project as much as a junior explorer can with expert management, location, impressive historical data and boots on the ground. The proof of the pudding will make itself apparent upon the assays generated by the January 2024 program, but if things pan out as planned, investors could find themselves on a valuation ride to remember. That said, always do your due diligence and speak with an investment professional before making any investment decisions. Good luck to all.