The Vancouver-based company said this week it had staked the Ana Maria property - three separate exploration claims that give the company control over a district, at an extremely low acquisition cost.

"Staking opportunities are rare in Salta province, where prospective ground is at a real premium," president and CEO Keith Henderson said.

"Property acquisitions in this region are generally achieved through option agreements with underlying owners, which can be expensive."

Centenera believes the Ana Maria property has not previously seen modern exploration techniques applied. The region is prospective for epithermal gold deposits and associated mineralisation.

Centenera says it owns a "considerable" amount of regional exploration data that would aid the initial surveying and drill-target selection.

The next steps will include initial reconnaissance of the project areas to determine where initial exploration should focus, followed by exploration that would likely focus on detailed surface geochemistry.

The Organullo project has about 8,000m of historical drilling and assay results. The project has a conceptual geological target range from 19.8 million tonnes grading 0.94gpt gold, for 600,000oz, to 31.6 million tonnes grading 0.92gpt for 940,000oz of gold, using a 0.5 g/t gold cut-off-grade.