Patagonia Gold Moves Forward with Calcatreu Project Permit
Progress on Calcatreu Project Permitting
Patagonia Gold Corp. (“Patagonia” or the “Company”) (TSX-V: PGDC) is excited to share noteworthy advancements in the Calcatreu permitting process. The project, vital for the company’s future, has now reached its final approval stage.
Unanimous Support for Calcatreu
The permitting process has garnered positive feedback from key stakeholders, including recommendations from the Secretariat of Mining and the Secretariat of Environment and Climate Change of Rio Negro. Additionally, the multidisciplinary environmental council (COPEAM) has unanimously supported the project's development, highlighting the overwhelming backing from the nearby native community.
Public Hearing Outcomes
A pivotal moment was the non-binding public hearing held recently, where Patagonia and its environmental consulting partner presented detailed information regarding the Calcatreu project. The session, lasting nearly 12 hours, was attended by over 200 local individuals who expressed various views about the mining industry, specifically focusing on the Calcatreu initiative. Feedback from this event indicated strong support from the majority of stakeholders, signaling optimism for project completion.
Next Steps for Approval
The final step in this approval journey involves a resolution from the Secretariat of Environment and Climate Change of Rio Negro, which is expected to formally grant the construction and development permit for Calcatreu within the next two months. This is a crucial milestone that could lead to significant growth for Patagonia Gold.
About the Calcatreu Project
Calcatreu is not just another mining site; it is Patagonia's flagship venture located in the southern region of Rio Negro. The geological potential is substantial, with gold and silver mineralization identified on the surface. The measured and indicated mineral resources are estimated at 9.84 million tonnes at an average of 2.11 grams per tonne gold and 19.8 grams per tonne silver. Additionally, inferred resources stand at 8.08 million tonnes, indicating strong potential for future profitability.
Future Development Plans
Once the final permit is received, Patagonia Gold plans to conduct in-depth studies to assess the mineral reserves better. This could lead to the development of a heap leach operation aimed at producing gold and silver doré, leveraging the company's extensive experience with heap leach processes established over the last decade.
About Patagonia Gold
Founded with a vision to create shareholder value, Patagonia Gold Corp. is a publicly traded mining entity that focuses on gold and silver exploration and development in Argentina’s Patagonia region. Besides Calcatreu, Patagonia is also developing the Cap-Oeste underground project. The company holds mineral rights to over 430 properties across several provinces in Argentina, solidifying its status as one of the largest landholders in Santa Cruz.
Contact Information
For further information, please reach out to:
Christopher van Tienhoven, Chief Executive Officer
Patagonia Gold Corp.
T: +54 11 5278 6950
E: cvantienhoven@patagoniagold.com
Frequently Asked Questions
What is the Calcatreu project?
The Calcatreu project is Patagonia Gold's flagship mining venture located in Rio Negro, Argentina, known for its rich gold and silver mineralization.
What stage is the Calcatreu project currently in?
The Calcatreu project is in the final approval stage of its permitting process, with a resolution expected soon.
Who supports the Calcatreu project's development?
The project has received strong backing from local communities, environmental councils, and government stakeholders within Rio Negro.
What are the future plans for the Calcatreu project?
Once permitted, Patagonia plans to conduct further studies and potentially implement heap leach operations for gold and silver production.
How can I contact Patagonia Gold for more information?
For inquiries, you can reach Christopher van Tienhoven, CEO, at +54 11 5278 6950 or via email at cvantienhoven@patagoniagold.com.
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