Amarillo is developing an open pit gold resource at its Mara Rosa Project in the mining friendly jurisdiction of Goias State in Brazil
Amarillo Gold Corp. (“Amarillo” or the “Company”) (TSXV: AGC) (OTCQB:AGCBF), is pleased to announce that it has submitted an application for the Installation License (Licence de Instalação or “LI”) for the Mara Rosa Project.
The application was made with SEMAD (Environmental Secretary), Goias State, Brazil. The LI authorizes the installation of the project or activity according to the specifications contained in the plans, approved programs, designs, and control measures under the previously granted Pre-License (Licença Prévia or “LP”), which approved the Environmental Impact Assessment for Mara Rosa. This LI is the only major outstanding permit required to commence mine construction at Mara Rosa.
This application has been made following the Mine Plan, Process Plant and Dry Stacking designs completed by SRK, Ausenco and GeoHydroTech Engenharia, respectively. The Company is continuing with the preparation by SRK of the Feasibility Study (FS) which is expected in Q1 2020.
Amarillo’s President & CEO Mike Mutchler commented “With this application we expect to receive the LI by mid-2020 and commence construction of the Mara Rosa Project shortly thereafter. We have already engaged Auramet to assist us in sourcing project financing, and with the completion of the FS in Q1 2020 we expect to be in a position to conclude definitive financing arrangements in conjunction with the receipt of the LI. I would like to thank our employees and engineering firms in completing this important milestone on our path to develop the Mara Rosa Mine.”
Source: Company Press Release