Argentina's Austral Gold Ltd. has formed a joint venture with Canada's Goldrock Mines Corp. to develop the Linares gold and copper project in the northwestern Argentine province of Salta, authorities said Wednesday.

The partnership was announced by Austral Gold Chairman Eduardo Elsztain, the chairman and largest shareholder in real-estate group Irsa, during a meeting with Argentine Mining Secretary Jorge Mayoral.

Elsztain said a work agenda was being developed for the Lindero project, located in Salta's Los Andes district, the Mining Secretariat said Wednesday in a statement.

The project will require an investment outlay of nearly 1.1 billion pesos (some $186 million) and its annual production capacity is expected to be roughly 109,000 ounces of gold equivalent. EFE