en.Wedoany.com Reported - Jeremy Gillis, Director of Corporate Development and Capital Markets at Sendero Resources, presented the progress of the Peñas Negras project at a meeting organized by the Federal Investment Council (CFI), highlighting the geological potential of La Rioja province and the support from the provincial government. He stated that current conditions allow for planning a new exploration phase, which is expected to yield significant discoveries.

During the presentation, Gillis reviewed the evolution of Sendero Resources from corporate restructuring to the consolidation of the Peñas Negras project, located in the Sierra de La Rioja. He explained that although mining projects go through different stages and changes in corporate leadership, the geological resources remain the true potential. "Rocks don't change; they don't go anywhere. What changes are the people responsible for managing, studying, and exploring them," he said. In this context, he emphasized that the company's restructuring allowed for the introduction of new investors and strengthened project development, while thanking the La Rioja provincial government for its support throughout the process. He noted that adjustments to existing agreements made the plan viable and paved the way for a new phase of growth.

During the presentation, he outlined the strategic location of Peñas Negras within the Andean metallogenic belt, surrounded by major mining projects such as Lunahuasi, Los Helados, and Filo del Sol. He explained that this proximity is one of the project's main geological foundations, as it shares the same rock units and structures as some of the most significant discoveries in the region over the past few decades. Gillis also noted that the progress in Argentine mining exploration over the last two decades has strengthened market expectations for Peñas Negras' potential, while improved international market conditions have significantly enhanced the project's economic outlook. He cited as an example that, at current metal prices, the economic value of historical drilling results is far higher than when they were originally obtained, making the project more attractive to the market.