Progress on Calcatreu Project Permitting
Patagonia Gold Corp. (“Patagonia” or the “Company”) (TSX-V: PGDC) is pleased to announce significant progress in the permitting process for the Calcatreu project. This initiative is crucial for the company's future and has now entered its final approval phase.
Unanimous Support for Calcatreu
The permitting process has received enthusiastic endorsements from essential stakeholders, including recommendations from the Secretariat of Mining and the Secretariat of Environment and Climate Change of Rio Negro. Furthermore, the multidisciplinary environmental council (COPEAM) has shown unanimous support for the project's advancement, emphasizing the strong backing from the local native community.
Public Hearing Outcomes
A key event was the recent non-binding public hearing, where Patagonia, along with its environmental consulting partner, provided comprehensive information about the Calcatreu project. This nearly 12-hour session attracted over 200 local attendees who shared a range of opinions on the mining industry, particularly concerning the Calcatreu initiative. The feedback from this gathering indicated robust support from most stakeholders, fostering optimism for the project's future.
Next Steps for Approval
The final hurdle in this approval process is a resolution from the Secretariat of Environment and Climate Change of Rio Negro, which is anticipated to formally issue the construction and development permit for Calcatreu within the next two months. Achieving this milestone could pave the way for significant growth opportunities for Patagonia Gold.
About the Calcatreu Project
Calcatreu stands out as Patagonia's flagship mining venture, situated in the southern region of Rio Negro. The geological potential here is impressive, with gold and silver mineralization found at the surface. The measured and indicated mineral resources are estimated at 9.84 million tonnes, averaging 2.11 grams of gold per tonne and 19.8 grams of silver per tonne. Additionally, inferred resources are estimated at 8.08 million tonnes, indicating a strong likelihood of future profitability.
Future Development Plans
Once the final permit is obtained, Patagonia Gold intends to carry out detailed studies to better evaluate the mineral reserves. This research may lead to the establishment of a heap leach operation aimed at producing gold and silver doré, utilizing the company's extensive experience with heap leach processes developed over the past decade.
About Patagonia Gold
Patagonia Gold Corp. was founded with the goal of creating value for shareholders. This publicly traded mining company focuses on the exploration and development of gold and silver in Argentina’s Patagonia region. In addition to Calcatreu, Patagonia is also advancing the Cap-Oeste underground project. The company holds mineral rights to over 430 properties across various provinces in Argentina, reinforcing its position as one of the largest landholders in Santa Cruz.
Contact Information
For more information, please contact:
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.
