Argentina Mining Limited (ASX:AVK) is exploring for gold and copper in Tanzania and Argentina. In December 2013, AVK acquired 100% of the issued capital of Simba Minerals Ltd which holds a 99.95% interest in two large areas referred to as the Geita and Singida Projects, in the Nyanzian Craton in Tanzania, East Africa. The Nyanzian Craton is approximately 350,000km2 in area and includes extensive areas of Archaean "Yilgarn-Style" greenstones, similar to those in Western Australia, which are highly prospective for gold. The greenstones are host to a globally recognised major gold camp, with an estimated 70Moz potential, from which total 2011 gold production alone has been approximately 40 tonnes. Tanzania has been Africa's 4th largest gold producer in recent years and is the 15th largest producer globally (World Gold Council 2013).
The Company’s Argentine project portfolio is located in San Juan Province and includes previously established porphyry copper-gold targets at Cerro Blanco and two epithermal gold-silver exploration projects, Amiches and San Francisco, near Barrick Gold's major Veladero and Pascua-Lama operations. The Company has recently signed an Option Agreement with ASX listed Oro Verde Ltd to acquire the Argentina projects.
Leading nickel and gold company Independence Group NL is a 12.3% cornerstone investor in Argentina Mining Limited.