Friday, 30 October 2015 00:00
Vancouver, British Columbia - October 30th, 2015: Aguila American Gold Limited ('Aguila' or the 'Company') (TSX-V: AGL) is pleased to announce the acceptance and approval of our environmental impact assessment in Peru.
Earlier this week, in a ceremony presided over by the Regional President for Apurimac and the Regional Director of Energy and Mines, Aguila American Resources Limitada SA, represented by their legal representative, James ('Jimy') Parodi, were presented with the official RESOLUTION DIRECTORIAL ACCEPTING AND APPROVING THE ENVIRONMENTAL IMPACT ASSESSMENT for their wholly owned 'El Triunfo' project, located in the Department of Apurimac, province of Grau, district of Curpahuasi, Peru. This brought to a successful conclusion the process, which began in April 2014. This 18-month process was necessitated by two significant changes to the project during the environment assessment period. Firstly, the Company was able to expand the agreement with the local community of Mollepina from an initial 5 years to 15 years duration, achieved and registered in the Public Registry in April of 2015. Secondly, the project was expanded to allow the full daily capacity of 350 tonnes in the crushing and grinding circuits to be achieved in one shift.
The El Triunfo project is on schedule to have all detailed engineering completed by the end of November 2015 and all final permit requests submitted to the government by that time. The project is aligned very well with the needs of the surrounding communities and the informal miners working in the district. El Triunfo's processing plant will be able to provide well overdue service to over 56 informal mining cooperatives, which are currently producing high-grade gold minerals in El Triunfo's catchment area. Please note that Aguila was the first to formalize communities in the Apurimac Department and has enjoyed and continues enjoying full support from the local and Federal government offices.
The Federal government has estimated greater than 400,000 informal miners are currently operating all over Peru and producing an estimated 220 - 240 tonnes of gold per annum. The formalization process brings these miners into the mainstream and will effect social change for the better, throughout the region.
The full details of the process and final metallurgical results will soon be published, however, the design concepts employed in the El Triunfo plant ensure maximum environmental protection and maximum gold recovery, while maintaining minimum operating costs. As the project will use essentially all local labour, this will greatly enhance and assist with the economic development and employment in the region.
ON BEHALF OF THE BOARD,
'John Huguet'
John Huguet
President and CEO
Aguila American Gold Limited
Aguila American Gold Limited is an emerging gold exploration company with an experienced executive management team focused on advancing and developing their prospective gold project, Angostura. Angostura is located 180 kilometres southwest of city of Cuzco, in the Department of Apurimac, southwestern Peru. Angostura is located in a prolific mineral trend, approximately 25 kilometres from the Las Bambas Mine, a major mining project being developed in the area.
For more information visit www.aguilagold.com
Aguila American Gold Limited
Tel: (604) 685 9316
Fax: (604) 683 1585
http://www.aguilagold.com
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