The Spanish writing on the Barrel is not a goverment mark but the name and address of an arms dealer in Argentina, (perhaps the importer, similar to the US requirements).
The glare prevents a clear reading, but what I can make out is;
"Armeria ** Nortena" "611 Hivalda" or "Northern (something) Armory,, 611 Hivalda Street."
This is just assuming that this is an Argentine dealer and address, based on the information above. The Spanish used could be from any number of countries and the gun could have started life almost anywhere in South America, (except Brazil) and ended up in Argentina.
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