Patagonia acquires land surface rights

Patagonia Gold has acquired the remaining land surface rights of its main gold and silver project through its wholly-owned subsidiary Minera Minamalu. The area, which is known as El Tranquilo and covers 80 square kilometres in the Santa Cruz Province of Argentina, was purchased for £2.1m. El Tranquilo also contains the bonanza grade gold and silver deposit, where an underground mining operation is in preparation to begin in the first quarter of 2012, together with numerous other highly prospective gold and silver areas.Patagonia now has the land surface rights as well as the mineral rights over the whole gold and silver deposit. The share price rose 3.8% to 47.75p by 14:30PM. NR