Algold Resources Ltd has announced that the Mauritanian Council of Ministers has issued a 30-year mining licence for Algold's Tijirit project.
This licence from the ministry gives consent in regards to the continuing of the Tijirit Project.
"This milestone is a significant achievement for both Mauritania and Algold. It is an important step in our growth plan for Tijirit, as well as for the development of other deposits within the licensed area, which extends over some 300 square kilometers," said François Auclair, Chief Executive Officer, Algold. "We are very grateful for the Government of Mauritania's ongoing strong support of Algold as demonstrated by the formal grant of the 30-year mining license. This is an important endorsement by the Government of Mauritania for Algol."
"In less than 18 months, Algold has successfully acquired a highly prospective property, completed several rounds of financing to raise over $20 million, including $3.7 million from Mauritanian partners, built a growing exploration camp, carried out 45,000 meters of drilling in three phases, filed a NI 43-101 compliant resource report and received the formal grant of a 30-year mining lease from the Government of Mauritania," said Algold Chairman Benoit La Salle. "Algold has made significant progress in a short period of time and we plan to continue to build on this success with a focus on execution and results."