Amerisur Resources Plc has received a Prospection Permit by the Ministry of Public Works and Communications of the Republic of Paraguay for the Espartillar block in Paraguay.
The area covers approximately 2,400,000 hectares in the Piriti-Pilar basin in western Paraguay. This basin is believed to be an extension of the producing Lomas de Olmedo sub-basin in Argentina.
The Company will now commence initial studies on this block, alongside Las Palmas and Coronillo blocks, which cover approximately 2,400,000 and 402,000 hectares respectively to determine further detailed gravity data in these new blocks. Depending on these results, the Company will decide if it will apply for a Concession Contract for exploration and exploitation and seek farm out opportunities in these assets in order to acquire seismic data and drilling of these prospects to be developed.
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