Soltera Mining has signed an agreement with Goldlake Group for the development of eluvial gold production at the El Torno property in northern Argentina.
Under the agreement, Goldlake will provide funding to resume alluvial gold production, maintain the property and undertake initial test work on the major gold targets for the project.
The agreement enables Soltera to continue exploring its El Torno project and allows Goldlake to develop a project concerned with the production of natural/ethical gold in line with an agreement to supply Cartier that has been active for one year.
Test work on the eluvial deposits will be carried out in September and gold production is expected before the end of 2010, Soltera said.
Goldlake Group holds a majority stake of Eurocantera, which produces natural/ethical gold from alluvial deposits in Honduras, Central America.