Centurion has entered into a joint venture agreement with Demetra Minerals Inc. ("Demetra") to develop the Ana Sofia agricultural gypsum project in Santiago del Estero province, Argentina. Demetra is a privately-held, Vancouver-based agri-mining company and the beneficial owner of 100% interest in the Ana Sofia property. It has been focused on identifying, developing and marketing calcium sulfate, a mineral fertilizer and soil conditioner (also known as agricultural gypsum) for the markets of Argentina, Paraguay, Bolivia, Brazil and Chile. The 50/50 Joint Venture enables Centurion and Demetra to accelerate exploration and development of the project.
Ana Sofia comprises two mining concessions totaling 50 hectares (ha) in size and approximately 500 ha of exploration rights located 50 kilometers west of the provincial capital city of Santiago del Estero in north-western, Argentina. Exploration work by Demetra, including trenching and sampling has identified multiple, high grade, near surface gypsum beds. Demetra has been issued two mining permits and has received environmental and export approvals from the provincial and federal authorities. There is evidence of small scale mining activities having taken place by previous operators within the property and small scale producers located immediately to the north are currently extracting agricultural gypsum and selling to fertilizer distributors and farmers. Agricultural gypsum is a valuable plant nutrient and plays a vital role in maintaining soil structure and nutrient balance in South American soils, allowing greater crop yields.