PanTerra Gold (ASX: PGI) has been granted a 8,000 hectare concession from the Dominican Republic to carry out exploration over an area where copper and gold mineralisation is evident over a length of 5 kilometres.
The Fuerte concession, located near Bahoruco on the southwest coast, is the first the Dominican Government has granted in the past 32 months.
Bulk samples of high grade copper ore were mined from the area and exported to Spain for evaluation around 1955.
The company will carry out soil and stream sampling in early 2014 followed by geophysical surveys and drilling of any identified targets.
The award of Fuerte follows the recent creation of a new Ministry of Mines and Energy, which is expected to improve administration of the country's mining sector.
The company also expects to be granted its two other concessions, La Paciencia and La Perseverancia before the end of this year.
It will establish an exploration team based in Santo Domingo to commence activity early next year, with the initial programs funded by part of the proceeds from the recent issue of Redeemable Preference Shares to the Central American Mezzanine Infrastructure Fund.
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