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Metminco submits plan of works for Miraflores

"The lodging of the PTO is a significant step towards mine development at Miraflores,” said managing director William Howe

gold bars
There's more than 450,000 ounces of economically mineable gold at Miraflores

Metminco Ltd (ASX: MNC)(LON:MNC) has submitted a plan of works to the Colombian Mining Agency for the Miraflores gold project.

The plan follows Metminco’s announcement last year that it had established a reserve of 457,000 ounces of gold and 385,000 ounces of silver at Miraflores.

READ: Metminco draws attention in London as it emerges from slumber

In the 43-101 report, grades in the proven section of the resource were reckoned at 2.75 grams per tonne gold, while the grade in the probable reserve was put at 3.64 grams per tonne gold.

The critical path for the development of the project remains the completion of the environmental impact assessment, including the validation of the impacts on the local communities and the gaining of the social licence for the project.

READ: Metminco's full attention switches to Colombia after Los Calatos sale

"The lodging of the PTO is a significant step towards mine development at Miraflores,” said managing director William Howe.

“Although further testing of water for the EIA will delay the submission of the document to the CARDER for approval, the company is still on track to have all of its approvals for mine development during 2018. The company continues to work closely with all stakeholders as it moves towards development of the Miraflores project."

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Metminco submits plan of works for Miraflores gold project

Ram Venkat, non-executive director at Metminco Ltd (ASX: MNC)(LON:MNC), tells Proactive they've submitted a plan of works to the Colombian Mining Agency for the Miraflores gold project. The plan follows Metminco’s announcement last year that it had established a reserve of 457,000 ounces...

on 31/1/18

2 min read