Eco Oro announces declaration of Páramo of Santurbán boundaries in Colombia

23 December 2014 (Last Updated December 23rd, 2014 18:30)

Eco Oro Minerals has announced the official declaration of the boundaries of the Páramo of Santurbán, following approval of Resolution 2090 by the Colombian Ministry of Environment and Sustainable Development.

Layout

Eco Oro Minerals has announced the official declaration of the boundaries of the Páramo of Santurbán, following approval of Resolution 2090 by the Colombian Ministry of Environment and Sustainable Development.

The resolution provides certain areas within the Santurbán Páramo where mining can take place, subject to stricter environmental controls.

In order to fully understand the impact of the Santurbán Páramo on Eco Oro and its assets, further work is required.

The company has conducted initial assessments, which indicate that the Santurbán Páramo may affect, to a limited extent, the development of the Angostura deposit.

At present, the company is considering the Santurbán Páramo to evaluate the way the Angostura Project will be developed.

"With the uncertainty relating to the boundaries now out of the way, the company will proceed with reassessing how the Angostura Project will be developed."

Various techno-economic parameters, such as cut-off grade, production rates, mining and metallurgical approaches, access to adjacent and at depth resources and the overall infrastructure, layout will be assessed.

Eco Oro Minerals co-chairman Juan Esteban Orduz said: "We are very pleased that the boundaries of the Santurbán Páramo have finally been declared.

"With the uncertainty relating to the boundaries now out of the way, the company will proceed with reassessing how the Angostura Project will be developed."

Eco Oro Minerals president and CEO Anna Stylianides said: "The delineation of the Santurbán Páramo has been the subject of intensive and thorough interaction with the local communities and other stakeholders.

"We are committed to developing the Angostura Project in a socially and environmentally sustainable manner, abiding by all international mining standards and best practices that will be beneficial for all stakeholders, including our investors and the communities in which we operate."


Image: General layout of principal mineralised structures relating to the previously-disclosed resource for the Angostura deposit. Photo: courtesy of Eco Oro Minerals Corp.