Amarillo Gold Corporation (Amarillo) has received approval from the Brazilian ANM (Agência Nacional de Mineração, formerly known as the DNPM or National Department of Mining Production) for a three year extension of its mining concessions for the Posse gold deposit (Mara Rosa) until 1 July 2020. The agreement allows for the continued delay of mining activities, thereby preserving the mining status of these historical mining concessions and to allow for the completion of a Feasibility Study, Basic and Detailed Engineering, and for application for the License to Install (LI).
Mike Mutchler, CEO of Amarillo commented: “We are very pleased that the ANM has granted this extension at Mara Rosa which aligns with our current development schedule. We are currently wrapping up a 12 000 m infill drilling programme to increase the Measured and Indicated Resources at Mara Rosa. We expect to complete a resource update in early 2019 and will then initiate a feasibility study, basic and detailed engineering in preparation for our application for the LI in mid-2019. Our current estimate is to receive the LI in early 2020 and to begin construction of the Mara Rosa processing plant in the first half of 2020, with commissioning and early production in late 2021, and full commercial production in early 2022. We have strong local and federal support for the project and look forward to working with the ANM and other stakeholders to advance the project to production.”
Read the article online at: https://www.globalminingreview.com/exploration-development/13122018/amarillo-secures-extension-of-mining-concessions/