On 23rd July 2019, the Company delisted from the AIM market of the London Stock Exchange following which it completed a Reverse Takeover of Canadian-listed Hunt Mining Corp and changed its name to Patagonia Gold Corp. The Company is now listed on the Toronto Venture Exchange (TSX-V) under the symbol PGDC.
As a result of the transaction, the Company now holds approximately 475,500 hectares of mining properties in the Province of Santa Cruz, located in the Deseado Massif. In addition the Company holds approximately 420,000 hectares of mining properties in the Province of Chubut, primarily in the vicinity of Pan American Silver’s Navidad world class silver project and Yamana’s Esquel project, together with 20,000 hectares of properties in Rio Negro Province.
In May 2017, the Company entered into an Option Agreement with Pan American Silver to acquire the Calcatreu gold/silver project, a transaction that was completed in January 2018.
HISTORY OF HUNT MINING
Hunt Mining Corp has an impressive mining land package within the prominent geographical feature, the Deseado Massif, in Argentina’s Santa Cruz Province which is known to host significant epithermal precious metals deposits. In total, the company holds mineral rights to 39 properties covering 1,255 km sq. (310,295 acres or 125,572 hectares).
Hunt acquired Martha Mine from Coeur in May 2016 and commenced generating a silver concentrate in January 2017. Since 2007, the corporation has drilled more than 62,000 meters of diamond core, conducted 416 line km of IP/Resistivity geophysical surveys and collected more than 20,000 surface chip, channel and trench samples. Drilling led to the identification of six mineralized zones on two projects, including the company’s flagship La Josefina/La Valenciana Project and the 100% controlled El Gateado Project.
Hunt Mining operated in Argentina through its wholly owned subsidiary Cerro Cazador SA.
HISTORY OF PATAGONIA GOLD Plc
Formerly named HPD Exploration Plc, the Company was originally incorporated in 2000 as a wholly owned subsidiary of Brancote Holdings Plc in order to hold exploration projects other than its Esquel Gold Project in Argentina. Brancote Holdings Plc proceeded to demerge its subsidiary by way of an offer to shareholders and HPD Exploration Plc traded on OFEX from January 2001. Brancote Holdings Plc was subsequently acquired by Meridian Gold Inc. in July 2002 for US$368 million. HPD Exploration Plc changed its name to Patagonia Gold Plc and took a major step towards development of its holdings by listing on the AIM market of the London Stock Exchange in March 2003.
In 2007, Patagonia Gold acquired Barrick’s properties in the Province of Santa Cruz and in 2011 an agreement was entered into with the provincial mining company, Fomicruz whereby Fomicruz contributed a number of properties to Patagonia Gold in exchange for a 10% participation in the overall portfolio of properties in Santa Cruz.
Today the Company’s flagship project is Calcatreu which has a AuEq resource of over one million ounces. Mining has ceased at Lomada de Leiva and at Cap-Oeste open pit. However, work continues at Cap-Oeste to evaluate mining the high grade underground resource which contains approximately 300,000 oz AuEq at a grade of nearly 20 g/t AuEq.