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Patagonia Gold Plc
Summary
| Project: | Cap-Oeste | |
|---|---|---|
| Deposit: | Cap-Oeste | |
| Location: | Argentina | |
| Commodities: | Gold-Silver | |
| Date: | 8/30/2016 | |
| Report Code: | (Enviro) | |
| Report Type: | EIA/ESIA | |
| Project Stage: | Mine Development | |
| Report details: | 30-8-2016: Patagonia Gold Plc announces an EIA/ESIA report for its Cap-Oeste deposit at the Cap-Oeste project. EIS and mining permit for project have now been approved and issued. Patagonia Gold Plc, the mining company with gold and silver projects in the | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Matthew Boyes (Internal) | |
| ABSTRACT: | Patagonia Gold Plc, the mining company with gold and silver projects in the southern Patagonia region of Argentina, Chile and Uruguay, is pleased to provide an update on its open pit mine and heap leach processing facility at Cap-Oeste (the "Project") and operations at the Lomada de Leiva mine ("Lomada"). The Environmental Impact Study for the development and construction of, and the mining permit for the Project have now been approved and issued respectively by the Provincial Mining Authority. This is a significant milestone in terms of the continuing development and construction of the Project. Initial earthworks commenced at the Project in April 2016 and all equipment and plant supplies for the Project have now been purchased. Construction is also advancing as planned with initial production expected to commence during September 2016. A total of US$13 million will be invested in the project to take it into production including capital expenditure and working capital. The newly purchased mining fleet, consisting of three Caterpillar 773G trucks and a CAT 390C excavator, is now on site and currently being commissioned. The new equipment will replace some of the existing mine fleet transferred from Lomada, enabling the Company to demobilise all hire machines and is also expected to increase the overall earth moving capacity, resulting in a reduction in unit costs in local currency significantly. | |
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