Concordia, through its wholly owned South American subsidiary Meryllion Minerals Corporation (“Meryllion”), has commenced with drilling at its Providencia silver-copper prospect in Northwestern Argentina. A 4,000 m drill program is currently underway. The objectives of the program are to extend known resources in the near surface environment as well as to test for high-grade mineralization at depth with an initial target of some 15 to 20 million ounces of silver based upon previous drilling on the property.
Meryllion has also acquired an option to purchase the 14 000 ha Cerro Amarillo-Cajon Grande copper-gold property located in the Malargüe District of Argentina. It is a gold-rich porphyry containing two partially explored mineralized systems and four unexplored colour anomalies. Water quality and glaciation studies have been completed. An access road and additional geophysics are being planned.